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- Switzerland ranked at the top of INSEAD's 2023 Global Talent Competitiveness Index.
- The index analyzed countries' abilities to enable, attract, grow, and retain talent.
- Singapore, the US, and Denmark ranked high, though China and India didn't crack the top 25.
Many talented workers are packing their bags and flocking to Switzerland and Singapore.
Switzerland is once again the world's most talent-competitive country, INSEAD's 2023 Global Talent Competitiveness Index found. The index analyzed six pillars for 134 countries such as each country's ability to enable, attract, grow, and retain talent, as well as the quality of vocational and technical skills and global knowledge skills.
The list has remained rather steady at the top over the last decade of the index, dominated by wealthier countries that more easily attract talent.
It's likely that AI could further separate robust labor markets from less advanced ones, the report noted. And amid global economic uncertainty impacting trade and investments, INSEAD predicts these so-called "talent wars" to continue.
Switzerland has held the top spot on the list for 10 consecutive years. Switzerland is the global leader in enabling and retaining talent, the report found, and it ranked second in vocational and technical skills. It also ranked first in sustainability, as it has high levels of social protection and a high-quality natural environment.
Switzerland also ranked as the best country in the world, according to a U.S. News & World Report analysis released in September.
Singapore, which ranked second, topped the list for high-level skills and talent impact. It also was in the top three for its ability to attract and grow talent, and well as its vocational and technical skills, in part due to its top-ranked formal education. The report noted how Singapore has a strong ability to match workforce supply with labor market demand, and the nation also placed fourth for external openness for attracting overseas business and talent.
The US placed third overall after ranking fourth last year. The US is the global leader for growth and vocational and technical skills, as well as placed first for lifelong learning and second for formal education. The US also came in sixth for mid-level skills and employability, though it was only 22nd for attracting talent.
European countries made up 17 of the top 25 positions in the index, though the United States, Australia, and Canada all were in the top 15. Notably, Japan, Spain, and Italy were not in the top 25.
China ranked 40th, up from 47th last year, though India was only 103rd in the index. Though India is projected to become the world's third-largest economy, a "slump in business sentiment" has prevented India from attracting strong talent.