Denmark’s quality of life praised as country tops global business ranking

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Denmark’s quality of life praised as country tops global business ranking
An annual business ranking which says it is a measure of quality of life has placed Denmark 1st out of 64 economies. Photo by Febiyan on Unsplash

Denmark has been listed first on the annual World Competitiveness Ranking produced by Swiss-based institute IMD, indicating a high quality of life in the Nordic country.


The World Competitiveness Ranking, produced annually by the Switzerland-based International Institute for Management Development (IMD), ranks countries based on “how they manage their competencies to achieve long-term value creation”, the institute states on its website.

The 2023 edition of the ranking places Denmark first among 64 different economies analysed for the ranking. Switzerland and Ireland join Denmark in the top three.

“All three are small economies that make good use of their access to markets and trading partners – as does Singapore, which came fourth.

“Denmark maintained its grip on first place from last year, when it enjoyed a momentous inaugural rise to the top,” IMD said.


The ranking is “a valuable tool for evaluating highly contrasting business environments, for supporting international investment decisions, and for assessing the impact of various public policies” according to IMD.

It is an indicator of the quality of life in each country it assesses and can be an aid to policy makers and business leaders.

The ranking makes assessments in of economies in four areas: economic performance, government efficiency, business efficiency and infrastructure.

To do this, it analyses 164 competitiveness based on research including economic literature, international along with feedback from the business community, government agencies and academics.

It also uses answers from 92 survey questions answered by 6,400 senior executives. The hard data accounts for two thirds of the overall ranking results, with the survey data comprising one third.

Denmark’s top position is based on “its continuous achievements across all four competitiveness factors measured,” IMD states.

“It remains first in business efficiency and second in infrastructure, and shows slightly improved results in government efficiency, going to fifth from sixth.”



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