The Complete Rankings
| 2024 Rank | 2025 Rank | Country | WCR Competitiveness | GII Innovation | HDI Human Development | Happiness | Total Score |
|---|---|---|---|---|---|---|---|
| (1) | 1 | Switzerland | 1 | 1 | 2 | 13 | 17 |
| (2) | 2 | Sweden | 8 | 2 | 5 | 4 | 19 |
| (3) | 3 | Denmark | 4 | 9 | 4 | 2 | 19 |
| (4) | 4 | Netherlands | 10 | 8 | 8 | 5 | 31 |
| (5) | 5 | Finland | 14 | 7 | 12 | 1 | 34 |
| (6) | 6 | Norway | 12 | 20 | 2 | 7 | 41 |
| (7) | 7 | Iceland | 15 | 24 | 1 | 3 | 43 |
| (9) | 8 | Ireland | 7 | 18 | 11 | 15 | 51 |
| (8) | 9 | Singapore | 2 | 5 | 13 | 34 | 54 |
| (11) | 10 | United States | 13 | 3 | 17 | 24 | 57 |
Dutch economist Matthijs Bouman recently published (paywall) his annual “List of Lists” for 2025. This is a ranking that combines four critical indices: competitiveness, innovation, human development, and happiness.
What do we learn from these rankings?
The Nordics dominate the rankings. Five Nordic countries (Sweden, Denmark, Finland, Norway, Iceland) occupy positions #2-7, with the Netherlands at #4. Together with Switzerland (#1) and Ireland (#8), small European countries hold eight of the top ten spots.
Different paths to success exist. Singapore (#2 competitiveness, #5 innovation) and the US (#3 innovation) show you can build highly competitive economies without prioritizing happiness or human development scores.
Switzerland leads overall with the best combined performance across all four metrics, ranking #1 in both competitiveness and innovation.
The Netherlands is slipping. Despite maintaining its #4 overall position, the Netherlands has fallen from the top 5 to #10 on the World Competitiveness Index in just a few years. This trend threatens the country’s long-term ability to balance economic strength with social wellbeing.
Innovation and competitiveness don’t guarantee happiness. Singapore ranks highly on economic metrics but #34 in happiness, showing that business-friendly environments don’t automatically translate to life satisfaction.
Further reading
Matthijs Bouman’s analysis in FD
World Competitiveness Ranking (WCR)
If you are interesting in a more business-focused comparison of countries, we have compiled our ‘Business Attraction Index‘ that is worth checking out.
