Photographs: Bobby Yip/Reuters
Institute for Management Development, a Switzerland-based business school, has announced the findings of its annual World Competitiveness Yearbook.
The WCY rankings measure how well countries manage their economic and human resources to increase their prosperity.
One-third of the 329 ranking criteria come from an exclusive IMD survey of more than 4,200 international executives, which reveals a growing scepticism in some of the 59 economies towards globalisation and the need for economic reforms
Let's take a look at the most competitive countries in the world.
Hong Kong
Score (2012): 100
Global rank (2011): 1
Global rank (2012): 1
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Most competitive countries in the world
Photographs: David McNew/Reuters
The United States
Score (2012): 97.75
Global rank (2011): 2
Global rank (2012): 1
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Most competitive countries in the world
Photographs: Arnd Wiegmann/Reuters
Switzerland
Score (2012): 96.68
Global rank (2011): 5
Global rank (2012): 3
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Most competitive countries in the world
Photographs: David Loh/Reuters
Singapore
Score (2012): 95.92
Global rank (2011): 3
Global rank (2012): 4
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Most competitive countries in the world
Photographs: Scanpix/Reuters
Sweden
Score (2012): 91.39
Global rank (2011): 4
Global rank (2012): 5
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Most competitive countries in the world
Photographs: Mathieu Belanger/Reuters
Canada
Score (2012): 90.29
Global rank (2011): 7
Global rank (2012): 6
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Most competitive countries in the world
Photographs: Pichi Chuang/Reuters
Canada
Score (2012): 89.96
Global rank (2011): 6
Global rank (2012): 7
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Most competitive countries in the world
Photographs: Kyrre Lien/Scanpix/Reuters
Norway
Score (2012): 89.67
Global rank (2011): 13
Global rank (2012): 8
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Most competitive countries in the world
Photographs: Ralph Orlowski/Reuters
Germany
Score (2012): 89.26
Global rank (2011): 10
Global rank (2012): 9
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Most competitive countries in the world
Photographs: Jacky Naegelen/Reuters
Qatar
Score (2012): 88.48
Global rank (2011): 8
Global rank (2012): 10
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Most competitive countries in the world
Photographs: Michael Kooren/Reuters
The Netherlands
Score (2012): 87.16
Global rank (2011): 14
Global rank (2012): 11
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Most competitive countries in the world
Photographs: Francois Lenoir/Reuters
Luxembourg
Score (2012): 86.05
Global rank (2011): 11
Global rank (2012): 12
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Most competitive countries in the world
Photographs: Bob Strong/Reuters
Denmark
Score (2012): 84.88
Global rank (2011): 12
Global rank (2012): 13
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Most competitive countries in the world
Photographs: Bazuki Muhammad/Reuters
Malaysia
Score (2012): 84.22
Global rank (2011): 16
Global rank (2012): 14
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Most competitive countries in the world
Photographs: Toby Melville/Reuters
Australia
Score (2012): 83.18
Global rank (2011): 9
Global rank (2012): 15
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Most competitive countries in the world
Photographs: Mohammed Salem/Reuters
The United Arab Emirates
Score (2012): 82.49
Global rank (2011): 28
Global rank (2012): 16
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Most competitive countries in the world
Photographs: Stringer/Reuters
Finland
Score (2012): 82.47
Global rank (2011): 15
Global rank (2012): 17
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Most competitive countries in the world
Photographs: Toby Melville/Reuters
The United Kingdom
Score (2012): 80.14
Global rank (2011): 20
Global rank (2012): 18
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Most competitive countries in the world
Photographs: Nir Elias/Reuters
Israel
Score (2012): 78.57
Global rank (2011): 17
Global rank (2012): 19
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Most competitive countries in the world
Photographs: Cathal McNaughton/Reuters
Ireland
Score (2012): 78.47
Global rank (2011): 24
Global rank (2012): 20
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Most competitive countries in the world
Photographs: Heinz-Peter Bader/Reuters
Austria
Score (2012): 77.67
Global rank (2011): 18
Global rank (2012): 21
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Most competitive countries in the world
Photographs: Lee Jae Won/Reuters
South Korea
Score (2012): 76.75
Global rank (2011): 22
Global rank (2012): 22
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Most competitive countries in the world
Photographs: Aly Song/Reuters
China
Score (2012): 75.77
Global rank (2011): 19
Global rank (2012): 23
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Most competitive countries in the world
Photographs: Stefan Wermuth/Reuters
New Zealand
Score (2012): 74.88
Global rank (2011): 21
Global rank (2012): 24
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Most competitive countries in the world
Photographs: Sebastien Pirlet/Reuters
Belgium
Score (2012): 73.48
Global rank (2011): 23
Global rank (2012): 25
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Most competitive countries in the world
Photographs: Ingolfur Juliusson/Reuters
Iceland
Score (2012): 71.54
Global rank (2011): 31
Global rank (2012): 26
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Most competitive countries in the world
Photographs: Handout/Reuters
Japan
Score (2012): 71.35
Global rank (2011): 26
Global rank (2012): 27
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Most competitive countries in the world
Photographs: Victor Ruiz Caballero/Reuters
Chile
Score (2012): 71.28
Global rank (2011): 25
Global rank (2012): 28
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Most competitive countries in the world
Photographs: Gonzalo Fuentes/Reuters
France
Score (2012): 70.00
Global rank (2011): 29
Global rank (2012): 29
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Most competitive countries in the world
Photographs: Chaiwat Subprasom/Reuters
Thailand
Score (2012): 69.00
Global rank (2011): 27
Global rank (2012): 30
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