Israel is ranked in 20th place for economic strength. It has climbed 20 places from 45th to 25th in the ratings for international investment
The International Institute for Management Development (IMD), which is based in Lausanne, Switzerland has placed Israel in the 21st place in the World Competitiveness Yearbook (WCY) rankings for 2007.
The International Institute for Management Development annually ranks the world's top 55 most competitive nations based on four competitive factors : economic performance, government efficiency, business efficiency and infrastructure.
The survey ranks 55 countries according 323 economic criteria, and is based on data collated from business entities worldwide. Israel is ranked in 20th place for economic strength, unchanged from last year. However, it has climbed 20 places, from 45th to 25th in the ratings for international investment.
Uriel Lynn, president of the Federation of Israeli Chambers of Commerce, said following the release of ranking that "the Israeli economy has become more efficient, more innovative, more technological, more stable and more global, and this is why we continue to move up on this list”.
The US continues to top the IMD list, followed by Singapore which moved up one spot and in third place by Hong Kong. China rose three places to 15th place. Israel is ranked directly behind the UK and immediately in front of Estonia.
Also following Israel in the rankings are Japan, France and Italy, while the only other Middle-eastern country among the top 55 was Jordan, which was placed in the number 37 spot.
Other countries that have climbed up the IMD rankings this year are Germany, the Netherlands, Luxembourg, and Sweden.
On the other hand, South Africa, Japan, Finland and Australia were all ranked lower this year than last year.