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Most competitive countries in the world

Last updated on: June 4, 2012 08:58 IST

An aerial view shows the Legislative Council building, centre, located in Hong Kong's Central business.

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

Last updated on: June 4, 2012 08:58 IST

Signs of fast food restaurants are seen along a busy street in Los Angeles.

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

Last updated on: June 4, 2012 08:58 IST

People walk on Zurich's main shopping street Bahnhofstrasse.

Switzerland

Score (2012): 96.68

Global rank (2011): 5

Global rank (2012): 3

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Most competitive countries in the world

Last updated on: June 4, 2012 08:58 IST

Singapore

Score (2012): 95.92

Global rank (2011): 3

Global rank (2012): 4

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Most competitive countries in the world

Last updated on: June 4, 2012 08:58 IST

Children try out a skateboard park built under a concrete viaduct in Ralambshov Park in Stockholm.

Sweden

Score (2012): 91.39

Global rank (2011): 4

Global rank (2012): 5

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Most competitive countries in the world

Last updated on: June 4, 2012 08:58 IST

People walk near the Chateau Frontenac in Quebec City.

Canada

Score (2012): 90.29

Global rank (2011): 7

Global rank (2012): 6

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Most competitive countries in the world

Last updated on: June 4, 2012 08:58 IST

Participants compete in a dragon boat race to mark the upcoming Dragon Boat Festival in Keelung River in Taipei.

Canada

Score (2012): 89.96

Global rank (2011): 6

Global rank (2012): 7

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Most competitive countries in the world

Last updated on: June 4, 2012 08:58 IST

People walk past the Grand Hotel in Oslo.

Norway

Score (2012): 89.67

Global rank (2011): 13

Global rank (2012): 8

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Most competitive countries in the world

Last updated on: June 4, 2012 08:58 IST

Pedestrians enjoy the sun and warm weather during a walk along the river Main in Frankfurt.

Germany

Score (2012): 89.26

Global rank (2011): 10

Global rank (2012): 9

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Most competitive countries in the world

Last updated on: June 4, 2012 08:58 IST

Sun reflects off the glass and steel buildings on the Doha skyline.

Qatar

Score (2012): 88.48

Global rank (2011): 8

Global rank (2012): 10

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Most competitive countries in the world

Last updated on: June 4, 2012 08:58 IST

Two women ride their bicycles on the Lindengracht in Amsterdam.

The Netherlands

Score (2012): 87.16

Global rank (2011): 14

Global rank (2012): 11

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Most competitive countries in the world

Last updated on: June 4, 2012 08:58 IST

Luxembourg

Score (2012): 86.05

Global rank (2011): 11

Global rank (2012): 12

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Most competitive countries in the world

Last updated on: June 4, 2012 08:58 IST

Boats are seen anchored at the 17th century Nyhavn district, home to many shops and restaurants in Copenhagen.

Denmark

Score (2012): 84.88

Global rank (2011): 12

Global rank (2012): 13

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Most competitive countries in the world

Last updated on: June 4, 2012 08:58 IST

Malaysia

Score (2012): 84.22

Global rank (2011): 16

Global rank (2012): 14

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Most competitive countries in the world

Last updated on: June 4, 2012 08:58 IST

Rowers train at dawn on the Yarra River in Melbourne.

Australia

Score (2012): 83.18

Global rank (2011): 9

Global rank (2012): 15

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Most competitive countries in the world

Last updated on: June 4, 2012 08:58 IST

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

Last updated on: June 4, 2012 08:58 IST

Cafe in the square of the Three Blacksmiths, Helsinki.

Finland

Score (2012): 82.47

Global rank (2011): 15

Global rank (2012): 17

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Most competitive countries in the world

Last updated on: June 4, 2012 08:58 IST

A rower trains on the River Thames at Henley in south east England.

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

Last updated on: June 4, 2012 08:58 IST

A view of central Tel Aviv backed by the Mediterranean Sea.

Israel

Score (2012): 78.57

Global rank (2011): 17

Global rank (2012): 19

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Most competitive countries in the world

Last updated on: June 4, 2012 08:58 IST

A man looks at a window display of jewellery on Grafton Street, Dublin.

Ireland

Score (2012): 78.47

Global rank (2011): 24

Global rank (2012): 20

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Most competitive countries in the world

Last updated on: June 4, 2012 08:58 IST

A traditional Fiaker horse carriage passes Burgtheater theatre in Vienna.

Austria

Score (2012): 77.67

Global rank (2011): 18

Global rank (2012): 21

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Most competitive countries in the world

Last updated on: June 4, 2012 08:58 IST

A general view shows part of central Seoul.

South Korea

Score (2012): 76.75

Global rank (2011): 22

Global rank (2012): 22

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Most competitive countries in the world

Last updated on: June 4, 2012 08:58 IST

Visitors walk through the Lujiazui Financial Area in Shanghai.

China

Score (2012): 75.77

Global rank (2011): 19

Global rank (2012): 23

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Most competitive countries in the world

Last updated on: June 4, 2012 08:58 IST

People cross a street after rainfall in central Auckland.

New Zealand

Score (2012): 74.88

Global rank (2011): 21

Global rank (2012): 24

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Most competitive countries in the world

Last updated on: June 4, 2012 08:58 IST

Tourists walk on Brussels' famous Grand Place.

Belgium

Score (2012): 73.48

Global rank (2011): 23

Global rank (2012): 25

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Most competitive countries in the world

Last updated on: June 4, 2012 08:58 IST

People walk past the recently opened Harpa Concert Hall in downtown Reykjavik.

Iceland

Score (2012): 71.54

Global rank (2011): 31

Global rank (2012): 26

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Most competitive countries in the world

Last updated on: June 4, 2012 08:58 IST

The world's steepest roller coaster 'Takabisha', with a free falling angle of 121 degrees, is seen at Fuji-Q Highland amusement park in Fujiyoshida, west of Tokyo.

Japan

Score (2012): 71.35

Global rank (2011): 26

Global rank (2012): 27

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Most competitive countries in the world

Last updated on: June 4, 2012 08:58 IST

Chile

Score (2012): 71.28

Global rank (2011): 25

Global rank (2012): 28

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Most competitive countries in the world

Last updated on: June 4, 2012 08:58 IST

A general view shows the Concorde obelisk, Champs Elysees Avenue and the Arc de Triomphe monument in Paris.

France

Score (2012): 70.00

Global rank (2011): 29

Global rank (2012): 29

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Most competitive countries in the world

Last updated on: June 4, 2012 08:58 IST

Thailand

Score (2012): 69.00

Global rank (2011): 27

Global rank (2012): 30