Source: World Competitiveness Scoreboard 2009
"... “How nations and businesses are managing the totality of their competencies to achieve greater prosperity”. Competitiveness is not just about growth or economic performance but should take into consideration the “soft factors” of competitiveness, such as the environment, quality of life, technology, knowledge, etc. This helps explain why some countries, the US, Japan, the UK, Nordic economies and small, open economies like Hong Kong, Singapore and Switzerland are able to maintain their rankings in the top league despite short-term disruptions. Too much focus on short-termism helped trigger the crisis!..."
Source: IMD’s definition of competitiveness