Top of the pile was Switzerland, the United States fell one place to fifth; Nordic countries dominated the top 10
The 2011 World Economic Forum's Annual Competitive Index, a widely watched barometer of economic vitality, ranked Israel 22nd in its Global Competitive Report, up two places from last year, and up five places from 2009.
The annual report covers 142 countries. The survey examines the business-operating environment and competitiveness of the economy on a global basis, but does not examine the level of centralization or competition between companies.
Top of the pile was Switzerland - for the third year in a row - while the world's largest economy, the United States, fell one place to fifth. Nordic countries dominated the top 10, with Sweden 3rd, Finland 4th, and Denmark 8th, and Norway was ranked 16th. Canada slipped out of the top ten to 12th, with the United Kingdom taking 10th place. Australia ranked 20th, down four places. China's ranking is the strongest among the large, developing so-called BRIC economies. South Africa ranked 50th, Brazil 53rd, India 56th, and Russia, 66th.
The World Economic Forum's Center for Global Competitiveness and Performance is publishing the Global Competitiveness Report (GCR) every year. It is considered the most comprehensive and authoritative assessment of the comparative strengths and weaknesses of national economies, used by governments, academics and business leaders.
The Global Competitiveness Report's competitiveness ranking is based on the Global Competitiveness Index (GCI), developed for the World Economic Forum by Sala-i-Martin and introduced in 2004.
The GCI comprises 12 categories - the pillars of competitiveness - which together provide a comprehensive picture of a country's competitiveness landscape. The pillars are: institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labor market efficiency, financial market development, technological readiness, market size, business sophistication and innovation.