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Luxembourg back in the top 5 of the World Talent Report

Published Wednesday December 04 2019

The Swiss IMD institute just published its sixth edition of their “World Talent Report” which scores countries across the three factors of investment and development, readiness and appeal. The study evaluates the extent to which economies develop, attract, and retain highly-skilled professionals. The report states that "Fostering a skilled and educated workforce strengthens competitiveness and enables long-term prosperity, particularly in a dynamic landscape where AI, robotics, and other new technologies are redefining current and future challenges for business, policy makers, and educational institutions."

The study’s Investment & Development factor measures the resources committed to cultivate home grown human capital. The Appeal factor evaluates the extent to which a country attracts local and foreign talent. Finally, the Readiness factor quantifies the quality of the skills and competencies that are available in a country. The report considers a total of 32 different criteria that are used to show the overall ranking for the 63 studied economies. These are ranked from the most to the least competitive, and the change from the previous year’s ranking are also shown. The scores are actually indices (0-100) generated for the unique purpose of constructing graphics.

The 2019 general ranking is led by Switzerland (100/100), followed by Denmark (90,80), Sweden (86,94) and Austria (86,91). Luxembourg returns with its score of 86,65 to the worldwide top 5 with a strong performance in Investment and Development (5th) and Appeal (4th). Compared to the member states of the European Union, Luxembourg ranks 3rd and 2nd in these sub-categories. Some of Luxembourg’s strengths are in total public expenditure on education (per student) and pupil-teacher ratio (primary education) (ranking 1st in both), and the availability of language skills (4th). Among its lowest performance are the percentage of graduates in sciences (55th), the female percentage of total labor force (51st) and the availability of skilled labor (50th). 

The complete report can be found here:  https://www.imd.org/wcc/world-competitiveness-center-rankings/world-talent-ranking-2019/

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