COMPETITIVENESS OF SWITZERLAN

Competitiveness of Switzerland

Executive Summary

The research paper focuses on discussing the labor market efficiency, education, health care system and macroeconomic stability as the utmost sources of the competitiveness in Switzerland throughout the world. The research is conducted via analyzing and going through detail of qualitative research already available via online libraries and Internet along with facts and figures used as evidence of competitiveness of the country. The country is found to be the richest, capable, and highly skilful and economically or politically stable and peace full. The result is proved by lower unemployment rate, high foreign investment, low inflation, effective fiscal policy implementation and advanced technology.

Competitiveness of Switzerland

1.0: Introduction

According to World Economic Forum, Switzerland is ranked as the most viable and pioneering economy of the world. The country has been ranked on top in terms of innovation; maintain excellent educational system, making higher expenditure on research and development, and forming strengthened association between academic and business sectors as per WEP Global competitive ranking of the year 2013. Switzerland has found to be excelling at his rank for the fourth consecutive year and is also appreciated for being world's most effective leader in maintaining and making labor market efficient enough and possessing the sustainable and constantly growing macroeconomic background in the world. (Dwyer, C., 2012, n..d.).

Figure 1: (www.smartplanet.com/, 2012, n.d.)

The measure of competitiveness for any economy can be defined as the list of detailed Institutions, procedures, processes, policies, and indicators that assist in determining the degree of efficiency of a country. Therefore, it can be said that competitiveness relies upon the efficacy of Institution, communications and transportation networks, macroeconomic sustainability, health facilities, educational services, training institutions, stability of market or efficiency of market, competence of labor market, innovation in financial market, technological advancements, scale of market size, business superiority, and viability (McIntyre, D. A., 2009, n.d.).

1.1: Introduction to the Economy of Switzerland

The economy of Switzerland is considered as the steadiest economy in the world. Its core positive contributors to the growth and sustainability of economy include long term secure monetary policy and stable political structure that has become one of the most viable competitive indicator for foreign and domestic investors that is why this economy possess the highest ratio of foreign investment throughout the world. The key factors contributing to the growing trade and specialized labor are the core ingredients of its sustainable economic growth. It has been recognized for making the highest per capita income across the world along with the lowest unemployment rate and intermediate or moderate level of budget. Its GDP is calculated as $622.8 billion in 2012 and purchasing power parity as $364.5 billion (Gross domestic product - quarterly estimates, 2012, n.d.). The current inflation rate at Switzerland is estimated to be 0.2% (Swiss Bureau of Federal Statistics, 2012, n.d.), unemployment rate is receded as 3.1% in 2011 and total labor force employed accounted for 4.547 million of population.

1.2: Aims and Objectives of Research Paper

The primary aim of this research paper is to examine and ...