Switzerland is once more the world’s most talent-competitive country, in response to the 2023 Global Talent Competitiveness Index by business school INSEAD.
The European country has held its crown for ten consecutive years, benefiting from its “high levels of social protection” and quality of its natural environment, the report noted.
Similarly, Singapore also held its fort for second place due to its highly educated labor force and modern economy, followed by the U.S. which has climbed to 3rd place after taking fourth in 2022’s rankings.
The annual report measures how 134 countries attract, grow and retain their talent. The highest-ten countries have remained regular over the past decade, with Switzerland and Singapore consistently topping the charts as “clear leaders.”
“Over the past decade, we have seen an unwavering link between a rustic’s wealth and its talent competitiveness, with richer economies continuing to outshine poorer economies,” the report stated.
Other European countries have also fared well on the list. Denmark, Netherlands, Finland and Norway got here in fourth, fifth, sixth and seventh respectively.
Other notable mentions include Australia, which got here in eighth, and the UK at tenth. China has risen within the rankings from forty seventh to fortieth place.
India, which is widely forecast to turn into the third-largest economy by 2030, got here in at 103rd place. INSEAD attributed this to a "slump in business sentiment," which dented its ability to draw talent each from overseas and domestically.
"This has also led to an increased skills mismatch, and a greater difficulty to find expert employees," the report added.
Countries' competition for talent is ready to turn into fiercer over the following decade as uncertainties and international tensions proceed to fester in trade, investment and politics.
"We are able to expect more moderately than fewer talent wars," the report noted, adding that quality of life and sustainability can be a "critical asset" for countries posturing themselves to turn into talent hubs.
Moreover, the appearance of AI in various industries could exacerbate talent disparity. "Unqualified or low-qualified labor will bear much of the extra pressure, while latest categories of employees, some with higher skills, will suffer from stronger competition from algorithms and specialized equipment."