Research Institute IMD, Which deals with international business development, ranks 63 countries in the world according to their ability to attract businesses and enable them to compete in the domestic and global market. The index is based on criteria such as economic performance, government efficiency, and physical and technological infrastructure.
Recently, we published One figure per day On Israel’s continuing decline in the rankings: from the peak (21st place) in 2018, to 27th place in 2021. But according to the 2022 report, Israel broke the trend and rose to 25th place. The analysis is performed by the Association of Chambers of Commerce in Israel, according to the criteria defined by theIMD. Israel’s place in the ranking rose thanks to impressive growth figures, war on bureaucracy and corruption, debt reduction and significant exports.
In general, Israel’s strengths in the ranking are economic resilience (eighth place), export of high-tech services (second place), investment in research and development (first place), expenditure on education (sixth place), use of technological means (eighth place), establishment of start-ups ( Sixth place), senior management abilities (ninth place) and digital skills (eighth place).
Israel’s weaknesses, on the other hand, are labor force participation (53rd place), exports of goods (61st place), inbound tourism (44th place), investment in communications infrastructure (58th place), establishment of international corporations (54th place), and encouraging competition ( 40th place), labor productivity (46th place) and women in management positions (41st place).
B-IMD Israel is recommended to work to increase productivity in the trade and services industries, increase the employment rate, reduce government bureaucracy, and encourage competition in the business sector.
In a global perspective, Denmark climbs to first place in the index, overtaking Switzerland (which drops to second place). Singapore comes in third, followed by Sweden in fourth. Hong Kong closes the opening five. The United States is only in 10th place, and the United Arab Emirates in 12th place. Israel is between the United Kingdom (23rd place) and France (28th place). The country with the lowest rank in the competitiveness index is Venezuela, and the second lowest is Argentina.