World Competitiveness Yearbook 2019



SHARE IT

Australia has climbed one place in a global ranking on the competitiveness of 63 nations released today, with our overall performance remaining largely the same for the last five years.

Australian WCY 2019 results

Australia has climbed one place in a global ranking on the competitiveness of 63 nations released today, with our overall performance remaining largely the same for the last five years.

In releasing the Australian results of the IMD World Competitiveness Yearbook, CEDA CEO Melinda Cilento said boosting Australia’s global competitiveness should be a central focus for governments, with the Federal election now clearing the way to step up our efforts in areas like tax and energy.

“Failure to reduce the company tax rate, bracket creep, stalled energy policy and lackluster productivity have been identified as weaknesses in Australia’s competitiveness in these latest rankings,” Ms Cilento said.

“Australia’s ranking has stalled, fluctuating narrowly between 17 and 21 in the last five years. The new term of parliament provides an opportunity to refocus attention and action on persistent issues where too little progress has been made over the past decade."

Key strengths for Australia included the resilience of our economy, ranking at five, and our overall economic performance, which ranks at 14. Areas of weakness for Australia include energy infrastructure and digital/technological skills, falling to 55 and 44 respectively. 

Overall Singapore moved to the top ranking from third in 2018, overtaking Hong Kong (2) and the US (3), which lost the top spot. The top five was rounded out by Switzerland and for the first time, the UAE.

International WCY 2019 results

Download the 2019 Australian results
See the 2019 international rankings
Read IMD media release - Singapore topples United States as world’s most competitive economy 
Read CEDA media release - Australia improves one place ranking 18, Federal election clears the way for renewed focus

Related content

Blog: What makes Singapore the most competitive country in the world? 

Singapore's top ranking in the IMD World Competitiveness Yearbook 2019 is no surprise, writes Mukund Narayanamurti. The city state's competitiveness is due to its open economy, world-class talent and innovation ecosystem and much can be learned from Singapore's pursuit of excellence.  

Blog: Six reasons why corporate tax reform in Australia is hard

The World Competitiveness Yearbook 2019 has pointed to corporate tax as a weakness in Australia’s global competitiveness. Grant Wardell-Johnson writes that while corporate tax reform is needed, achieving it won’t be easy. 

Blog: Time to recognise and support Australia's industry-university partnerships
  Industry-university collaboration has long been recognised as fundamental to an innovative economy. But is Australia as poor as portrayed? Dr Peter Binks provides a new perspective, based on Australia’s ranking in the IMD World Competitiveness Yearbook 2019 and Business Higher Education Roundtable's (HERT) two decades of awards.

About the survey

The rankings are part of the Switzerland based IMD’s 2018 World Competitiveness Yearbook, which compares and ranks 63 countries based on more than 340 business competitiveness criteria. Two thirds of the criteria are based on statistical indicators and one third is based on a survey of more than 6000 international executives conducted in March/April this year. CEDA is the Australian partner for the yearbook.

Other recent CEDA research