Norway strengthens its competitiveness in international rankings

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Norway is climbing the ranking of among various countries’ competitiveness,as developed by the Swiss Business School, IMD.

 

The US tops the list, which was released on Wednesday night. Norway is in eighth place,up three places from last year. Last year Norway went down in rank, but chief economist, Christos Cabolis, believes there is little reason to relinquish an idea of Norway moving up or down a few places from year to year.

“It goes up and down, but Norway is largely in the same place. It is the same with the entire Nordic region. It’s doing very well,’’ said Cabolis to NTB news.

Denmark is doing a bit better than Norway, with a sixth place position, while Sweden is number nine, and Finland is number 16. Cabolis said Norway’s strengthened position is linked to the stabilization of oil prices last year, as well as a stable set of governance.

Competitive Nordic rankings

On the rankings, it is shown that Norway and other Nordic countries have high taxes.

Wages and working hours are also listed as weaknesses. But Cabolis pointed out that the Nordic countries, sharing many of the same values, all end up high on the list of competitive countries.

“The Nordic model is doing very well, he concluded, and added that tax policy is not just about tax levels, but also how the tax benefits are being used.

 

© NTB scanpix / #Norway Today

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