Singapore loses to Switzerland as world's most competitive nation

Guess which region dominated the rankings?

The first edition of the Global Talent Competitiveness Index (GTCI) was launched last 26 November by INSEAD. The GTCI ranking is heavily dominated by European countries.

The top ten include only two non-European countries, namely Singapore (2) and the United States (9). Within Europe, it is mostly the northern part of the continent that appears as most ‘talent competitive’.

The top-ranked nations all have many aspects in common, including a long-standing commitment to quality education (UK, Switzerland, Finland, Sweden), history of immigration (US, Australia) and a clear strategy to grow and attract the best and brightest (Singapore).

First-placed Switzerland excelled in almost all variables, its least convincing performance being on the Attract pillar (18).

It also ranked first on both LV and GK pillars. Denmark outdid its Nordic neighbours by excelling in variables such as voicing concern to officials paired with high government effectiveness. Additionally, Denmark has better labour market flexibility and social protection than its neighbours in Northern Europe, which allowed it to achieve third place in the ranking.

Paul Evans, The Shell Chaired Professor of Human Resources and Organisational Development, Emeritus, at INSEAD, and co-editor of the report noted, “There are differences among the 103 countries covered by this first edition of the GTCI: rich countries need more global knowledge skills to foster innovation and a job-rich recovery; developing countries still need the labour and vocational skills required to build infrastructure, health and education systems.

But all of them have to build better environments to grow, attract and retain the skills and talents they need.”