The United States has regained the top spot in a global economic competitiveness ranking thanks to a rebound of its financial sector, abundant technological innovation and successful companies, News.com.au reported.
In its annual ranking, released on Thursday, May 30 by the Swiss-based Institute for Management Development (IMD), the United States jumped back from the No.2 slot in which it found itself in 2012.
Last year's frontrunner, Hong Kong, meanwhile fell to third place in the 2013 ranking, while Switzerland moved up to second from third.
The top 30 includes 10 members of the austerity-gripped European Union, with Sweden in fourth, a notch up from 2012, and Germany and Britain at an unchanged ninth and 18th respectively.
Ireland rose from 20th to 17th, and France from 29th to 28th. Australia dropped one place to 16 over the past year.
Its highest competitive factor rankings were for domestic economy (6), finance (4), and business legislation and education (both 10) while its lowest scores were for international trade (53), prices (49), labour (37) and technical infrastructure (33).
New Zealand dropped one place to 25th. Japan also climbed from 27th place to 24th.
Fortunes were mixed for the BRICs group of emerging economies, made up of Brazil, Russia, India, China and South Africa. China climbed to 21st from 23rd, and Russia to 42nd from 48th. But India slipped from 35th to 40th, Brazil from 46th to 51st, and South Africa from 50th to 53rd.
