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The IMD World Competitiveness Centre, a research group at the International Institute for Management Development (IMD) business school in Switzerland, compiles the ranking using 260 indicators, about two thirds of which come from ‘hard’ data such as national employment and trade statistics.
The remaining third comes from more than 6,250 responses to an Executive Opinion Survey that measures the business perception of issues such as corruption, environmental concerns and quality of life.
This year 63 countries are ranked with Cyprus and Saudi Arabia making their first appearance.
Click through the slides above to see which countries ranked top and bottom and who made the biggest gains and losses.