Denmark’s position as number 9 is based on top rankings within two of four main categories; business efficiency and infrastructure. These categories cover areas such as adaptability of companies to market changes, worker motivation and skilled labour.
Europe generally fares better than last year, thanks to a gradual economic recovery and, likewise, Denmark’s improved ranking also owes to economic improvements such as GDP growth, increased investment flows and lower personal taxes.
Director of Invest in Denmark, Susanne Hyldelund, says:
- “The Danish Government has a clear ambition of continuously improving the attractive Danish business climate and a range of initiatives have been launched to drive this development - including lowering of the corporate tax level, better access to funding and talent and improved administrative procedures. I am pleased to see that IMD’s ranking confirms that Denmark is a competitive business destination and I hope that it will result in more foreign investors considering Denmark.”
The Danish Government launched another growth plan earlier this month with recommendations to make it easier and cheaper to run a company in Denmark, improve international recruitment and facilitate access to financing options.
For the past three years, Denmark achieved the top position among European countries in the World Bank’s Ease of Doing Business Index which supports IMD’s positive evaluation of the Danish business environment.
About IMD’s Competitiveness Ranking
The IMD World Competitiveness Yearbook will be published at the end of June and ranks and analyzes the ability of nations to create and maintain an environment in which enterprises can compete. Based on analysis made by leading scholars and IMD’s own experience, the methodology divides the national environment into four main factors: Economic Performance, Government Efficiency, Business Efficiency and Infrastructure.
The overall ranking reflects more than 300 criteria, two-thirds of which are based on statistical indicators and one-third on an exclusive IMD survey of 4,300 international executives.