Switzerland tops the global competitiveness rankings for the fourth consecutive year, the World Economic Forum's Global Competitiveness Report 2012-2013 showed on Wednesday. Croatia slid five places from last year, finishing 81st.
Singapore remained in second place, followed by Finland and Sweden.
Croatia dropped from 76th position in 2011 to 81st, with a score of 4.04. By comparison, the top-ranking Switzerland scored 5.72.
Compared with countries in the region, Croatia was behind Slovenia (56th), Hungary (60th), Montenegro (72nd) and Macedonia (80th), but ahead of Bosnia and Herzegovina (88th), Albania (89th) and Serbia (95th).
The United States has been falling in the rankings for the fourth year in a row, finishing 7th, down two notches from 2011.
Northern and Western European countries dominated the top 10, with the Netherlands, Germany and the United Kingdom ranking 5th, 6th and 8th respectively. Two Asian countries also made it into the top 10 -- Hong Kong, which placed 9th, and Japan in 10th position.
The report showed that Switzerland and Northern European countries have been consolidating their strong competitiveness since the outbreak of the financial and economic crisis in 2008. On the other hand, Portugal (49th), Spain (36th), Italy (42nd) and Greece (96th) are still suffering from poor competitiveness in terms of macroeconomic imbalances, difficult access to finances, rigid labour markets, and a lack of innovations.
The report covered 144 countries, two more than last year.
