Switzerland has lost its status as the world's most competitive economy.
According to Oxu.Az, Bloomberg reported the news.
The European country dropped to third place in the prestigious global ranking by the International Institute for Management Development (IMD).
Published since 1989 and based on dozens of macroeconomic criteria, this report is a key indicator of the global economic power balance.
Singapore has reclaimed the top spot. The Asian nation, which also topped the list in 2024, regained the lead thanks to innovative technologies and flexible economic policies.
Hong Kong secured second place, reaffirming its role as a global financial center. This shift further proves that the global economic axis is rapidly moving toward the Asia-Pacific region.
According to analysts, Switzerland's decline stems from high US trade tariffs and the Swiss franc's significant appreciation, traditionally seen as a "safe haven" for global investors. The strong currency weakened export potential and negatively impacted foreign investment inflows.
Experts emphasize that Switzerland's setback reveals an important reality: even the most stable economies are highly vulnerable to capital flow changes and escalating geopolitical uncertainties.
Among other notable changes, the US re-entered the top ten, jumping from 13th to 10th place. The US had led the ranking for several years in the mid-2010s. Meanwhile, Taiwan, the undisputed leader in the global chip and semiconductor industry, rose from sixth to fourth place due to rapid growth.
The United Arab Emirates (UAE), which has successfully diversified away from oil dependence, maintained its position as the world's fifth most competitive economy.
