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The 5 most competitive countries in the world

The U.S. has regained its standing as the world's most competitive country, according to the latest rankings from Swiss business school IMD.

.  Hong Kong

competitiveness hong kong
Pedestrians wait to cross a busy street in the Causeway Bay district of Hong Kong.

Formerly top-ranked Hong Kong has fallen to third place this year. But the financial and shipping hub still has plenty of attractive features.

Survey respondents said the city's low taxes are a big draw, as is the former British colony's effective legal environment.

But the city got poor marks for research and development, labor relations and policy stability.

Source: IMD World Competitiveness Center
Methodology: The IMD World Competitiveness Yearbook uses economic data and survey results to construct a ranking of 60 world economies. Countries are evaluated in four broad categories: economic performance, government efficiency, business efficiency and infrastructure.
  @CNNMoney - Last updated May 30 2013 09:07 AM ET

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