Tag #Imd Ranking

What factors contribute to Denmark's high ranking in global competitiveness despite the challenges facing the European Union?

"The 2024 IMD World Competitiveness Ranking placed Denmark third, behind Singapore and Switzerland. Denmark's strong showing is notable given the ongoing discussion about declining EU competitiveness. A key factor is Denmark's flexible labor market, known as 'flexicurity.', A2="Denmark's 'flexicurity' model combines easy hiring and firing with robust unemployment benefits and active labor market policies. This system, built on trust, allows businesses to adapt quickly while providing a safety net for workers. The unemployment rate is significantly below the EU average, with less than 0.36% of the workforce unemployed for 52 weeks in May 2024.