May 082013

World Economies

The top 10 economies in the world 2013 is a hard list to make considering the state the world economy finds itself in. However, some countries have triumphed over others.

1 – Switzerland: The number one country when it comes to the top 10 economies in the world 2013 list is Switzerland, as they had the highest overall score when it came to the World Economic Forum. Switzerland scored at the top in cooperation in labor-employer relations and the availability of financial services while also scoring high when it came to education, training and research.

#2 – Singapore: Singapore is notably one of the top 10 economies in the world for having one of the best governments and legal system. Singapore has the best score of all countries in terms of public trust in politicians, minimizing wastefulness in government spending and transparency in government according to the World Economic Forum. With a Human Development Index (HDI) score of .866, the economy is still doing considerably well despite 5.2 percent rate of inflation.

#3 – Finland: Being the second most innovative country in the world, Finland is becoming one the best economies today. While the macroeconomic environment may be struggling at the moment due to inflation, it far beats the majority of other European countries. Moreover, the country scored well overall when it came to its economic measures and scored high in terms of education.

#4 – Netherlands: The Netherlands is known for having a strong base when it comes to the fields of business sophistication, health and primary education. Using some of the most sophisticated marketing strategies, the Netherlands fit the profile of having a stable and successful economy. Moreover, being the 6th country on the World Economic Forum for the availability of financial services, the Netherlands is a great place for business which is why it makes the top 10 economies in the world 2013 list.

#5 – Sweden:
Sweden made the top 10 economies in the world 2013 due to its low debt and for being one of the most technologically ready countries in the world. While the country made the top five portion of the list, one of the most difficult aspects of Sweden’s economy is the high tax rate as it has a 52.8% total tax rate on profits.

#6 – Germany: Ranked third in the world for business sophistication by the World Economic Forum, Germany is inching closer and closer every year to being one of the top 10 economies in the world. Germany is ranked first for its ability to produce a broad range of goods and services and is slowly becoming one the most innovative countries in the world. Moreover, considering the global economy, specifically in Europe, Germany is seen as a leader in terms of economical stability.

#7 – United Kingdom: The United Kingdom made the top 10 economies in the world 2013 list for its labor market efficiency and for the fact that the majority of highly educated residents are choosing to stay in the country. However, with a challenging macroeconomic environment and the country’s Office of Budget Responsibility notes that finances are “clearly unsustainable” over the coming 50 years, the U.K. still has a lot of work ahead before making it to the top five.

#8 – United States: Despite the Fiscal Cliff debacle and the immense amount of debt the U.S. finds itself in, America still makes th top 10 economies in the world 2013 list due to its large economy. With a HDI score of .91 and a GCI score of 5.47 while also being the world’s second largest exporter, the United States is still one of the worlds best economies. However, if the U.S. does not handle the debt situation properly, this might not be true come 2014.

#9 – Japan: Being one of the more innovative countries, Japan is a definite contender in the top 10 economies in the world 2013 list. Having the third-largest gross domestic product and generating large domestic and export demand for the goods and services, Japan has a GCI score of 5.4 and a HDI of .9.

#10 -Hong Kong: Well-known for its amazing infrastructure and quality railroads, ports and air transportation, Hong Kong is one of the best economies in the world and continues to grow. Despite being one the smallest developed countries, Hong Kong ad the 40th-highest GDP of all 144 economies studied by the World Economic Forum. Hong Kong is also home to one of the most-developed financial markets, beating out the U.S. and even China.

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