Switzerland topples Singapore in IMD's world competitiveness ranking; first time in 33 years for the Swiss

A woman wearing a protective face mask passes the city skyline during the coronavirus outbreak (Covid-19) outbreak in Singapore June 10, 2021. - Reuters

MOSCOW, June 18 (Bernama): Switzerland has unseated Singapore as the world’s most competitive economy for the first time in the 33-year history of the Institute for Management Development (IMD)’s ranking.

"Switzerland has been competing with Singapore in recent years but the latter has suffered significantly on an economic level during the pandemic, as it depends on the export and import of services and on people’s mobility," the report found.