In this fiercely competitive world, a single talent alone cannot propel a company or economy forward. Any country needs a vast pool of entrepreneurial talent to drive transformation. An open and collective entrepreneurial approach leads to “greater success in governments, education and business,” says the World Economic Forum. Here we take a look at the top 10 most talent competitive countries in the world.
The most talent competitive countries
The 2019 Global Talent Competitiveness Index (GTCI) focuses on entrepreneurial talent and global competitiveness. The top 10 most talent competitive countries in 2019 are the same countries as last year. The GTCI measures the ability of countries to grow, attract, and retain talent. It provides a resource for decision makers around the world to develop strategies to boost their talent competitiveness.
The GTCI determines a country’s ranking based on four metrics: enabling talent through markets and regulations, growing new talent, attracting talent, and retaining talent by offering a high quality of life. These are the top 10 most talent competitive countries on the planet:
Luxembourg has once again made it to the top 10 most talent competitive countries. The country has done an outstanding job nurturing and retaining local talent. Its international reputation in finance helps it attract international talent. It’s also one of the world’s least corrupt countries.
9- United Kingdom
The United Kingdom and its capital city of London continue to draw international talent. The UK is home to some of the world’s best educational institutions such as the Oxford and Cambridge Universities. It has also invested in creating and encouraging entrepreneurial talent. However, the Brexit could undermine its talent competitiveness.
8- The Netherlands
The Netherlands offers a high quality of life. It’s one of the world’s happiest, healthiest, and least corrupt countries. The Netherlands puts a strong emphasis on innovation and education. Amsterdam has incredible access to talent. The country has also been praised for its talent diversity.
Nordic countries offer the best of almost everything. Sweden creates as well as attracts talent, thanks to its high quality of life, an advanced education system, corruption-free governance, and advanced healthcare facilities. Sweden also has one of the best startup ecosystems in the world.
Just like Sweden, Finland is one of the best places to live in the world. It has developed incubators and innovation zones to encourage entrepreneurship. According to the World Economic Forum, Finland is preparing its younger generation for the challenges of the Fourth Industrial Revolution by using “novel teaching approaches.”
Denmark ranks among the best countries to live in the world. It’s known for creating and attracting talent, thanks to the institutions of higher education and training. The rights of workers are well protected. This Nordic country has achieved high employment and low inequality.
Norway has consistently ranked among the top 10 most talent competitive countries for years. It leads in nurturing talent and offering a high quality of life. Norway is well positioned to take advantage of the opportunities of digital transformation.
3- United States
The United States is home to some of the world’s best institutions of higher education and the Silicon Valley. It’s also a global economic powerhouse. The US attracts talent from across the globe. The World Economic Forum has praised its culture of innovation, labor market, business dynamism, and the financial system. However, it’s held back by a not-so-great healthcare system.
The tiny city-state of Singapore is always buzzing with business activity. It’s home to the world’s best airport, one of the busiest seaports, and one of the world’s best universities. Singapore attracts talent from neighboring countries in large numbers. Singapore’s fair and transparent government policies have been one of the biggest drivers of its economic success.
Switzerland has topped the list once again. It offers excellent healthcare facilities, exceptional higher education, and a high quality of life to retain talent. Switzerland also leads in employability, sustainability, and lifelong learning. It has held the No.1 spot since 2012.
All of the top 10 most talent competitive countries are high-income nations. The GTCI data shows that talent competitiveness is strengthening in countries that already rank high. It’s weakening in countries ranked lower. China, which falls in the upper-middle-income group, was ranked 41st. China is improving its position due to its vast talent pool, rising income, and the rise of its universities in international rankings.