GENEVA (AP) – The United States’ competitiveness among global economies has risen to the No. 3 spot behind Switzerland and Singapore in rankings published annually by the World Economic Forum.
In its survey released Wednesday, the Forum said the U.S. – the world’s largest economy – moved up two spots from fifth position last year, thanks to improvements in its financial markets and public institutions.
Six European countries dominated the top 10: Switzerland, Finland, Germany, the Netherlands, the United Kingdom and Sweden. Aside from the U.S., the remaining three slots were Asian: Singapore, Japan and Hong Kong.
The results are based on data from the United Nations and other international organizations as well as the Forum’s surveys of business executives.
The Forum, which hosts the annual gathering of global business and political leaders in the Swiss ski resort of Davos every winter, ranks a country’s competitiveness according to factors such as its ability to innovate and the quality of its infrastructure.