The World Economic Forum has released its annual report of the globe's most competitive economies.
The report ranks 148 countries based on essential economic "pillars" — institutions, infrastructure, macroeconomics, health and primary education, goods and market efficiency, higher education and training, labor market efficiency, technological readiness, financial market development, market size, business sophistication, and innovation.
Countries big and small must press ahead with structural reforms to "strengthen the transformative forces that will drive future economic growth," according to the report.
"Going forward, this means that the traditional distinction between countries being 'developed' or 'developing' will become less relevant and we will instead differentiate among countries based on whether they are 'innovation rich' or 'innovation poor.'"
Some countries are on their way more than others. We bring you the top 35.
35) SPAIN: Ranked 10th in infrastructure, 14th in market size, and 26th in higher education and training
REUTERS/Enrique Calvo
34) CHILE: Ranked 17th in macroeconomic environment, 20th in financial market development, and 28th in institutions
REUTERS/ Ivan Alvarado
33) OMAN: Ranked 5th in macroeconomic environment, 13th in institutions, and 18th in goods market efficiency
REUTERS/ Jim Young
32) ESTONIA: Ranked 12th in labor market efficiency, 23rd in higher education and training, and 29th in technological readiness
REUTERS/ Kai Pfaffenbach
31) ICELAND: Ranked 9th in health and primary education, 10th in technological readiness, and 12th in higher education and training
Paul Steele/Baldhiker
30) PUERTO RICO: Ranked 18th in financial market development, 19th in business sophistication, and 26th in goods market efficiency
29) CHINA: Ranked 2nd in market size, 10th in macroeconomic environment, and 32nd in innovation
REUTERS/ Carlos Barria
28) IRELAND: Ranked 6th in health and primary education, 11th in goods market efficiency, and 13th in technological readiness
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27) ISRAEL: Ranked 3rd in innovation, 22nd in financial market development, and 23rd in technological readiness
26) BRUNEI: Ranked 1st in macroeconomic environment, 10th in labor market efficiency, and 25th in institutions
REUTERS/ Ahim Rani
25) SOUTH KOREA: Ranked 9th in macroeconomic environment, 11th in infrastructure, and 12th in market size
24) MALAYSIA: Ranked 6th in financial market development, 10th in goods market efficiency, and 20th in business sophistication
REUTERS/Bazuki Muhammad
23) FRANCE: Ranked 4th in infrastructure, 8th in market size, and 17th in technological readiness
REUTERS/Philippe Wojazer
22) LUXEMBOURG: Ranked 2nd in technological readiness, 5th in goods market efficiency, and 10th in institutions
REUTERS
21) AUSTRALIA: Ranked 7th in financial market development, 12th in technological readiness, and 15th in higher education and training
Julian Finney/Getty Images
20) SAUDI ARABIA: Ranked 4th in macroeconomic environment, 20th in institutions, and 23rd in market size
REUTERS/Fahad Shadeed
19) UNITED ARAB EMIRATES: Ranked 4th in goods market efficiency, 5th in infrastructure, and 7th in macroeconomic environment
REUTERS/Ahmed Jadallah
18) NEW ZEALAND: Ranked 2nd in institutions, 4th in financial market development, and 5th in health and primary education
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17) BELGIUM: Ranked 3rd in health and primary education, 5th in higher education and training, and 12th in business sophistication
REUTERS/ Francois Lenoir
16) AUSTRIA: Ranked 8th in business sophistication, 13th in higher education and training, and 16th in infrastructure
REUTERS/Heinz-Peter Bader
15) DENMARK: Ranked 5th in technological readiness, 11th in innovation, and 13th in labor market efficiency
14) CANADA: Ranked 7th in health and primary education, 7th in labor market efficiency, and 12th in financial market development
13) QATAR: Ranked 3rd in goods market efficiency, 4th in institutions, and 6th in macroeconomic environment
12) TAIWAN: Ranked 7th in goods market efficiency, 8th in innovation, and 11th in health and primary education
REUTERS/Yi-ting Chung
11) NORWAY: Ranked 2nd in macroeconomic environment, 3rd in technological readiness, and 6th in institutions
REUTERS/Stian Lysberg Solum
10) UNITED KINGDOM: Ranked 4th in technological readiness, 6th in market size, and 8th in infrastructure
REUTERS/ Toby Melville
9) JAPAN: Ranked 1st in business sophistication, 4th in market size, and 5th in innovation
REUTERS/Yuriko Nakao
8) NETHERLANDS: Ranked 4th in health and primary education, 4th in business sophistication, and 6th in higher education and training
7) HONG KONG: Ranked 1st in infrastructure, 1st in financial market development, and 2nd in goods market efficiency
REUTERS/Bobby Yip
6) SWEDEN: Ranked 1st in technological readiness, 5th in institutions, and 6th in innovation
AP/TORBJORN ANDERSSON
5) UNITED STATES: Ranked 1st in market size, 4th in labor market efficiency, and 7th in higher education and training
4) GERMANY: Ranked 3rd in business sophistication, 3rd in higher education and training, and 4th in innovation
REUTERS/Fabrizio Bensch
3) FINLAND: Ranked 1st in institutions, health and primary education, and innovation
2) SINGAPORE: Ranked 1st in goods market efficiency, 1st in labor market efficiency, and 2nd in financial market development
REUTERS/Edgar Su
1) SWITZERLAND: Ranked 1st in innovation and sophistication, 2nd in labor market efficiency, and has won first overall for 3 straight years
REUTERS/Denis Balibouse
Read more: http://www.businessinsider.com/35-most-competitive-economies-2013-9?op=1#ixzz2e2bj6P2S
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