For its Global Competitiveness Report, the World Economic Forum (WEF) assesses 140 countries every year. In the current study, Germany achieved third place. The Federal Government is delighted about this very good assessment of Germany as a business location. However, it must also be seen in the context of other analyses of German competitiveness.

Good location for implementing ideas

In particular, the WEF praised the stability and the capacity for innovation in Germany. In both areas, Germany achieved first place.

Germany offers the best conditions for successful innovation processes. No other country is better able to take a good idea into production and marketing. The numbers of patent applications and scientific publications were very high.

Social cohesion and economic equality are also incorporated into the study. Germany also received a positive rating in these areas, too.

Work to do on digitalisation

At the same time, the WEF also highlighted the important challenges facing Germany. These include, for example, the dissemination of digital technologies and the expansion of high-speed data connections.

The World Economic Forum, with headquarters in Cologny near Geneva, is a foundation supported by around 1,000 member companies. It was founded in 1971 by the economist Klaus Schwab. Its annual meeting of leading politicians and economists in Davos is well known.  The Chancellor has also participated on numerous occasions.