World's Most Competitive Countries, 2015
Overall, says the report, global economic growth remains low and unemployment "persistently high" despite efforts to re-ignite a recovery in the seven years since the beginning of the world financial crisis in 2008. The agency says the recovery has been "less robust, more uncertain and taken longer than many expected," suggesting a “new normal” of subdued economic growth, lower productivity growth and high unemployment. It adds that recent geopolitical shocks — from the crisis in Ukraine to conflicts in the Middle East, terrorism and the migrant crisis — have added to the world's economic difficulties. Switzerland remains No. 1 on the list, a position it has held since 2007. Singapore is second in the annual ranking, followed by the United States, Germany and the Netherlands. The bottom five consists of Burundi, Sierra Leone, Mauritania, Chad and last-place Guinea.