The Netherlands ranks 5th in Global Competitiveness Index
According to the most recent IMD Global Competitiveness Ranking, the Netherlands climbed one spot to take 5th among 64 global economies measured on long-term economic well being. Following a strong performance over the last few years, the Dutch score particularly high in areas including business efficiency and infrastructure.
Maintaining a strong performance despite rising challenges
The IMD World Competitiveness Ranking 2023 evaluates 64 countries worldwide, analysing the impact of multiple factors such as government, taxation, productivity, and unemployment on the competitiveness of their economies.
This latest edition focuses on navigating the fragmented economic landscape, concluding that agile governance and good access to markets boost citizens’ quality of life. Through the combination of hard data analysis and qualitative surveys completed by partner institutions, IMD assesses each country across 4 key categories:
- Economic performance - encompassing trade, employment, and the domestic economy.
- Government efficiency - including taxes and public spending.
- Business efficiency - covering the labor market and productivity.
- Infrastructure - including education, healthcare, and digitisation.
The Netherlands remains highly competitive worldwide
According to the report, the Netherlands maintained a strong performance ranking 5th most competitive economy worldwide, improving its position from 2022. The top spots were claimed by Denmark (#1), Switzerland (#2), and Ireland (#3).
The Dutch performed particularly well in the business efficiency and infrastructure categories, coming in 2nd and 5th place respectively - an all time high in both categories.
The Amsterdam Area is a hotspot for innovation
The Amsterdam Area has recently been recognised as the most innovative small city of 2023 thanks to its open business environment and public-private collaboration. With several innovation districts focusing on technological advancements in urban solutions, life sciences and health, and energy transition, the region is emerging as a leading European business environment.