Competitiveness of the European Union Member States according to the Institute of Management Development index (IMD)
Abstract
The competitiveness index of the Swiss Institute for Management Development (IMD International for Management Development), based in Lausanne, is calculated and published in the World Competitiveness Yearbook - the leading annual report published annually since 1989. Until 1995, the report was developed jointly by the IMD and the Index of Economic Freedom (IEF). IMD publishes the World Digital Competitiveness Ranking, which measures the ability of 64 economies to adapt to digital technologies and the readiness to search for new applications of digital technologies as a key factor of economic transformation in industry, the public sector and broadly understood social relations. The IMD index provides a general overview of the factors that determine the level of competitiveness. Currently, these factors are analyzed in four categories defining the competitiveness of the economy, i.e.: economic situation, government efficiency, efficiency of the public and economic sector, infrastructure.
To assess the competitiveness of EU Member States, taking into account the IMD index, rankings for 2010 and 2020 published by the World Digital Competitiveness Ranking were used. Research results indicate that the countries that achieved the best results in the IMD ranking are also leaders in the competitiveness ranking based on GDP per capita published by the European Commission.
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