04.09.2013

Finland takes third place in global competitiveness ranking

Finland is the third most competitive nation in the world for the second year running, according to the latest WEF Global Competitiveness Report (2013-2014). The reports states well-functioning public institutions, outstanding health and primary education, and culture of innovation as key reasons for Finland’s top-three placing.

Challenges ahead

The report suggests that one way to maintain the Finland’s long-term competitiveness is to improve the country’s capacity to utilize new technologies (currently ranked 18th). Finland’s rising inflation was also singled out as a challenge, even though the current inflation rate of 3 per cent is not significantly higher than in other euro-zone countries.

Text by: Tommi Koivisto

Source: WEF