Switzerland is the most competitive economy in Europe and second most competitive in the world according to new research by the IMD Business School. Each ranking is based on analysis of over 340 criteria derived from four principal factors: economic performance, government efficiency, business efficiency and infrastructure. Responses from an in-depth survey of more than 5,400 business executives, who are asked to assess the situation in their own countries, are also taken into consideration. Insidermonkey experts made a list of 10 most competitive economies in Europe in 2016.
The study reveals some of the most impressive strides in Europe have been made by countries in the East, chief among them Latvia, the Slovak Republic and Slovenia. Western European economies have also continued to improve, with researchers highlighting the ongoing post-financial-crisis recovery of the public sector as a key driver. You can also check out our list of the Countries with the Highest Economic Growth Rates.