The Global Competitiveness Index ranks Swedens economy as the worlds 7th highest. Finland, Norway, and Denmark come close behind at 10th, 11th and 12th place.
“Sweden's reputation in the tech world was reflected in the index, as it received top 10 marks in the ‘technological readiness’, ‘business sophistication’ and ‘innovation capacity’ categories.”
The index use data from the International Monetary Fund (IMF), the World Health Organization (WHO) and UN, among others.
"The report considers a wide range of factors that are important for the wider innovation ecosystem: firms' capacity for innovation, the quality of scientific research institutions, government procurement of advanced technologies and availability of scientists and engineers."
Switzerland topped the ranking for 2017.