Denmark is one of the ten most competitive countries in the world when it comes to business, according to this year’s International Institute for Management Development (IMD) rankings.
After spending a few years outside of the top ten, the country earned the number nine slot based on achieving top marks in business efficiency and infrastructure, two of the four main categories measured.
These categories cover areas such as the adaptability of companies to market changes, worker motivation and skilled labour.
Earlier this month, the government launched a growth plan with recommendations to make it easier and cheaper to do business in Denmark, improve international recruitment and facilitate access to financing options. The survey pointed at economic improvements such as GDP growth, increased investment and lower personal taxes as part of the reason for the country’s improved ranking.
READ MORE: Blue chips break C20 index record
For the past three years, Denmark has achieved the top position among European countries in the World Bank’s Ease of Doing Business Index, thus supporting IMD’s positive evaluation of the Danish business environment.
Europe in general performed better than last year thanks to the gradual economic recovery. Scandinavian neighbours Sweden and Norway also cracked the top ten at numbers four and ten respectively.
The IMD World Competitiveness Yearbook will be published at the end of June and ranks and analyses the ability of nations to create and maintain a competitive business environment. Countries are measured according to four main areas: Economic Performance, Government Efficiency, Business Efficiency and Infrastructure.
The rankings reflect more than 300 criteria, which are judged based on statistical indicators and an IMD survey of 4,300 international executives.
The IMD business school is located in Lausanne, Switzerland, and is one of the world's premier business and management institutions.
The complete IMD rankings can be view here