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24 June, 2022

Ranking of countries with the most competitive economies in 2022

63 countries received an assessment of the economy for competitiveness. The assessment shows how well the states manage to create an environment for attracting international investment and sustainable business development. The World Competitiveness Ranking 2022 is compiled by the Swiss Institute for Management Development, IDM.

Competitiveness ranking of the countries of the world: where is it better to open a business and get a residence permit in 2022
Photo: Adobe Stock

IMD has been analyzing countries' competitiveness since 1989. Institute experts take data from open sources of international organizations, such as the UN and the World Bank.

Each state is evaluated according to four groups of indicators, which consist of 333 criteria. Key evaluation indicators:

  1. The state of the economy in the field of innovation.
  2. Level of digital technologies in the country.
  3. Government effectiveness in social policy.
  4. Social cohesion and equal opportunities.

The final grade is the total sum of all points. The indicators are equally weighted.

Top 10 countries by competitiveness in 2022

PositionCountryDynamics to 2021
10USAWithout changes
9Norway-3 positions
8Finland+3 positions
7Taiwan+1 items
6Netherlands-2 items
5Hong Kong+2 items
4Sweden-2 items
3Singapore+2 items
2Switzerland-1 items
1Denmark+2 items
Copyright ©️ 1995-2022, IMD International, Switzerland, World Competitiveness Center, www.imd.org/centers/world-competitiveness-center/

Denmark has taken 1st place in the ranking for the first time since 1989. This is the result of the country's government, which adheres to the concept of sustainable economic development. The effectiveness of the measures taken is confirmed by the results of the ranking: in 2010, Denmark ranked 15th, in 2016 - 6th, and in 2022 became the leader.

The business climate is assessed by analysts, surveys of leaders of large corporations and management specialists. According to the IMD Executive Opinion Survey, the three most important trends that will affect business development in 2022 will be:

  1. Inflationary pressure.
  2. Geopolitical conflicts.
  3. Bottlenecks in the supply chain.

The survey involved 4,097 middle and senior managers from 63 countries.

How to get a residence permit or citizenship in the countries from the ranking

7 countries from the IMD ranking in 2022 provide foreigners with the right to obtain a residence permit or citizenship by investment. State governments offer one or more investment options, such as a non-refundable contribution to a state fund, buying real estate or bonds, and investing in a business.

Countries from the IDM ranking with investment programs

PositionCountryProgramInvestments
2SwitzerlandResidence permit for financially independent personsFrom ₣450 000 per year
12UAEResidence visaFrom $136,000 
20AustriaResidence permit for financially independent personsFrom €100,000 
40CyprusPermanent residence by investmentFrom €300,000 
42PortugalResidence permit for investmentFrom €250,000 
47GreeceResidence permit for investmentFrom €250,000 
52TurkeyCitizenship by investmentFrom $400,000 

Switzerland issues a residence permit to financially independent persons without the right to work in the country. The investor concludes an agreement with the administration of the canton and pays a lump-sum tax from ₣450,000 per year.

The UAE issues residency visas to investors and entrepreneurs for investments of $136,000 or more in real estate, funds or businesses. Depending on the amount of investment, a residence visa, an analogue of a residence permit, can be obtained for 3, 5 or 10 years.

Austria issues a residence permit to financially independent persons - annually for applicants and members of their families, from 400 to 450 quotas are allocated. The cost of obtaining and maintaining the status is from €100,000 per year.

Cyprus issues permanent residence for investments from €300,000. The investor chooses from three options: purchase of residential or commercial real estate, shares of local companies or securities.

Portugal offers a residence permit for investments from €250,000. The investor can choose from eight options: buying real estate or securities, opening a deposit in a local bank, investing in a business, scientific activity or the cultural heritage of the country.

Greece issues a residence permit for the purchase of residential or commercial real estate, shares of local companies or opening a deposit in a Greek bank. The minimum investment is €250,000.

Turkey offers to obtain citizenship for investments in the amount of $400,000. Five investment options are available to choose from: buying real estate, shares of an investment fund or government bonds, participating in the fixed capital of a Turkish company, opening a deposit in a Turkish bank.

Immigrant Invest is a licensed agent that helps investors to obtain a residence permit or citizenship in Europe for investment. If you want to become a resident of a European country, please contact investment program experts for advice.

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Ranking of countries with the most competitive economies in 2022