Denmark's excellent second place for Comparative Liveability is compromised by its 20th place for Economic Competitiveness, leaving it with an overall ranking of 9th, tied with New Zealand.

The poor business ownership rate and international market competitiveness indicators reduce the overall score for Economic Competitiveness.

Denmark's modern economy is heavily oriented towards foreign trade, and has a flexible labour market and high employment rate.

Government spending accounts for over half of GDP, funded by high levels of personal taxation.

The distribution of wealth is more equal than in almost any other country in the world. Denmark faces the long-term challenge of an ageing population, which may lead to labour shortages and add to an already-large social welfare bill.

Image: A man rests under a display window decorated with Danish flags and wedding dresses on the Royal Wedding Day in Copenhagen 14 May 2004. | Photograph: Claus Bech Andersen/AFP/Getty Images

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