Northern Europe leads in post-pandemic competitiveness ranking. (picture alliance/dpa)
Several northern European countries have a head start to compete in the changed global economic landscape after the COVID-19 pandemic, according to an international ranking by the World Economic Forum (WEF).
The Switzerland-based think tank and leaders' network analysed which countries are best prepared for a far-sighted recovery that goes hand in hand with sharing wealth more equally and protecting the environment.
"During this time of profound uncertainty, the health crisis and economic downturn have forced a fundamental rethink of growth and its relationship to outcomes for people and planet," Saadia Zahidi, the WEF managing director, said on Wednesday.
Finland, Denmark and Sweden variously rank among the top three nations in nine out of 11 priority areas that were identified by the organization.
These policy areas include investing in digital infrastructure, building greener energy systems, updating education curricula and expanding health care.
Estonia, the Netherlands and New Zealand also ranked highly for several of the competitiveness benchmarks.
The world's two biggest economies, the United States and China, are best placed to create vibrant environments where businesses can thrive, according to the WEF.
The organization that stages an annual summit of country leaders and corporate executives also looked at which countries have navigated the pandemic crisis successfully.
Besides northern European countries, the report lauded countries such as Austria, Switzerland, the United Arab Emirates and Singapore for their strong economic safety nets.
The latter countries also managed to cushion the effects of the pandemic by integrating health, fiscal and social policies, the WEF said.
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