IMD WORLDIMDCOMPETITIVENESSCENTERIMDWORLDCOMPETITIVENESSBOOKLET2022 IMDWORLDCOMPETITIVENESSBOOKLET2022IMDIMD WORLDCOMPETITIVENESSCENTER June 2022IMDWORLDCOMPETITIVENESSBOOKLET2022ISBN-13978-2-940485-52-9ISSN1026-2628Copyright 2022IMD International Institute for Management Development23, Ch. de BelleriveP.0. Box 915CH-1001 LausanneSwitzerlandTel:+41 21 618 02 51e-mail:wccinfolQimd.orgInternet:www.imd.org/wccDatabase:https://worldcompetitiveness.imd.org/Choose the productthatmeetsyourneeds.Visit our eShop:WWW.WCCESHOP.ORGIMD, IMD INTERNATIONAL REAL LEARNING. REAL IMPACT, IMD BUSINESS SCHOOL and IMD WORLDCOMPETITIVENESS YEARBOOK are trademarks of IMD International Institute for Management Development Table of ContentsPrefaceThe IMD World Competitiveness Center .Partner InstitutesWorld Competitiveness 2022: And the turmoil continues.16Rankings in a Nutshell.The 2022 IMD World Competitiveness Ranking...32Methodology in a Nutshell...34What is the IMD World Competitiveness Ranking?.35Selected Breakdowns.36Factor Rankings.42Competitiveness Country Profiles...51Statistical tables.115Economic Performance.116Government Efficiency.118Business Efficiency..120Infrastructure122This booklet is just a summary. The complete Yearbookwith full profiles and all the statistics is available digitally and in print.Visit our eShop:WWW.WCCESHOP.ORG PrefaceWe are delighted to present the /MD World Competitiveness Yearbook 2022. The 34thedition of the Yearbook is launched at a moment of tremendous turmoil. The pandemichas affected all countries worldwide by giving rise to a health and economic crisesWhile COVID-19 is still affecting large parts of the world an additional perilous situationhas emerged: the geopolitical risks re-introduced by the Russian invasion of Ukraine.In this turbulent environment, the IMD World Competitiveness Center continues tofollow its mission by studying and analyzing how economies advance in generatinglong term value for their citizens. This year we have the pleasure of welcoming anew economy in the group of countries we study, Bahrain! Yet, the total numberof economies that are ranked is 63, two economies shy of the grand total. Twoeconomies, Russia and Ukraine, are not included in the 2022 ranking due to theLimited reliability of the data collected.In 2021, the world witnessed the ability of the scientific community to develop a vaccinevery quickly and the flexibility of governmental institutions to approve the vaccine atrecord times. The results of the 2022 Yearbook highlight the implications: increaseOur results also highlight the emergence of geopolitical risks, the development ofmore regional centric challenges and the potential re-evaluation of the concept ofglobalization. As we conclude in the essay of this volume, in the last couple of yearsof the pandemic and world economic crises the fundamentals of competitivenessremained the same. Will this be the case after the re-emergence of global geopoliticalrisks?We always feel privileged for the support we enjoy from a host of stakeholders: thelarge amount of data we study need meticulous care that our Partner Institutes, theIMD Alumn/ community, and our Panel of Experts from all the countries who respondto our questionnaire thoroughly provide.Furthermore, the IMD faculty and staff provide feedback and assistance. We arefortunate and honored for their continuous collaboration. Our stakeholders, in greatpart, is the reason you can cherish this publication. We are tremendously thankful!Professor Arturo BrisDr Christos CabolisDirectorChief Economist & Head of Operations4 The IMD WorldCompetitiveness CenterFor more than thirty years, the IMD World Competitiveness Center has pioneeredsustainable value creation. The competitiveness of nations is probably one of the mostsignificant developments in modern management and IMD is committed to leadingthe field. The World Competitiveness Center conducts its mission in cooperation witha network of 56 Partner Institutes worldwide to provide the government, businessand academic communities with the following services:> Competitiveness Special Reports> Competitiveness Prognostic Reports> Workshops/Mega Dives on competitiveness> IMD World Competitiveness Yearbook> IMD World Digital Competitiveness Ranking> IMD World Talent RankingTheIMDWorldCompetitivenessCenterteamAt IMD:Professor Arturo BrisDirectorChristos CabolisChief Economist & Head of OperationsJose CaballeroSenior EconomisMadeleine HedigerData Research and Online Services SpecialistCatherine JobinOrder and Sales AdministratorOdete MadureiraCenter CoordinatorWilliam MilnerResearch Projects Associate ManagerMarco PistisResearch SpecialistMaryam ZargariResearch SpecialistAt KAESCO Consulting:Jean-Francois KaeserWe also have the privilege of collaborating with a unique network of Partner Institutesand other organizations, which guarantees the relevance of the data gathered.ContactTel :+41 21 618 02 51e-mail :wccinfolimd.orgInternet:www.imd.org/wcc5 Partner Institut