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COUNTRYPROFILE UNITED KINGDOM
CONTENTS<<COUNTRY>>
IMD World Competitiveness Yearbook, Talent & Digital 2020: summaries
WORLD COMPETITIVENESSRANKING 2020
All data are available from theWorld Competitiveness Online.
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BASIC FACTSCapital
Land area (square km '000) 2442019
Exchange Rate (per $) 0.7832019
Population - market size (millions) 66.872019 13
Gross Domestic Product (GDP) (US$ billions) 2,827.12019 6
GDP (PPP) per capita (US$) 47,2942019 22
Real GDP growth (%) 1.42019 42
Consumer price inflation (%) 1.792019 31
Unemployment rate (%) 3.742019 19
Labor force (millions) 33.962019 12
Current account balance (% of GDP) -3.782019 57
Direct investment stocks inward ($bn) 1,890.42018 3
Direct investment flows inward (% of GDP) 0.962019 51
PEER GROUPS RANKINGSEUROPE - MIDDLE EAST - AFRICA (40 countries) POPULATIONS > 20 MILLION (29 countries)
COMPETITIVENESS TRENDS - OVERALL
UNITED KINGDOMOVERALL PERFORMANCE (63 countries) Rank
London
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COMPETITIVENESS LANDSCAPE
18 19 20 23 19
2016 2017 2018 2019 2020
19 1712
19
61
3627
1610
23 2027
9
2534
25
1511 12
18
Dom
estic
Eco
nom
y
Inte
rnat
iona
l Tra
de
Inte
rnat
iona
l Inv
estm
ent
Empl
oym
ent
Pric
es
Publ
ic F
inan
ce
Tax
Polic
y
Inst
itutio
nal F
ram
ewor
k
Busi
ness
Leg
isla
tion
Soci
etal
Fra
mew
ork
Prod
uctiv
ity &
Effi
cien
cy
Labo
r M
arke
t
Fina
nce
Man
agem
ent
Prac
tices
Att
itude
s an
d V
alue
s
Basi
c In
fras
truc
ture
Tech
nolo
gica
l Inf
rast
ruct
ure
Scie
ntifi
c In
fras
truc
ture
Hea
lth a
nd E
nvir
onm
ent
Educ
atio
n
Economic Performance Government Efficiency Business Efficiency Infrastructure
11 12 13 14 13
2016 2017 2018 2019 2020
6 6 7 86
2016 2017 2018 2019 2020
IMPROVEMENTSWCY 2019
WCY 2020 DECLINES
WCY 2019
1.1.18 Gross fixed capital formation - real growth -0.01 2.28 1.4.04 Employment - long-term growth 2.52
2.5.04 Risk of political instability 3.32 6.79 2.4.07 Government subsidies 0.86
2.3.08 Exchange rate stability 0.031 0.005 3.2.20 Attracting and retaining talents 7.60
3.2.14 Labor force long-term growth 0.26 0.40 4.4.23 Environment-related technologies 3.36
2.5.05 Social cohesion 4.25 5.97 1.2.25 Tourism receipts 1.94
4.3.18 Number of patents in force 242.1 330.6 3.3.01 Banking sector assets 186.27
1.3.13 Relocation threats of business 3.75 4.91 4.1.07 Population - growth 0.65
3.5.02 Image abroad or branding 4.80 6.21 4.4.04 Health infrastructure 6.37
1.5.01 Consumer price inflation 2.48 1.79 3.4.11 Women in management 36.17
2.3.10 Adaptability of government policy 4.17 5.29 4.4.27 Environmental laws 6.99
4.5.20 Language skills 4.48 5.44 2.4.03 Public sector contracts 7.46
1.2.12 Exports of commercial services ($bn) 347.34 412.05 2.5.02 Homicide 1.20
3.1.07 Workforce productivity 5.66 6.71 2.4.09 State ownership of enterprises 7.21
1.4.08 Long-term unemployment 1.10 0.90 3.3.19 Corporate debt 6.93
3.5.06 Digital transformation in companies 5.13 5.97 4.5.06 Pupil-teacher ratio (secondary education) 15.78
COMPETITIVENESS EVOLUTION & ATTRACTIVENESS INDICATORS
UNITED KINGDOMCOMPETITIVENESS EVOLUTION
2.06
1.81
174.21
0.60
5.97
34.22
6.65
6.68
The criteria below highlight the 15 biggest Improvements and the 15 biggest Declines in the overall performance of the economy. They are
determined by the largest percentage changes in the value of each criterion from one yearbook to the next.
WCY 2020
16.35
KEY ATTRACTIVENESS INDICATORSFrom a list of 15 indicators, respondents of the Executive Opinion Survey were asked to select 5 that they perceived as the key
attractiveness factors of their economy. The chart shows the percentage of responses per indicator from the highest number of responses
to the lowest.
0.99
6.79
3.10
7.15
1.25
6.94
11.8%13.2%14.7%22.1%23.5%25.0%27.9%27.9%29.4%30.9%39.7%42.6%51.5%55.9%57.4%
0% 10% 20% 30% 40% 50% 60% 70%
Competency of governmentCompetitive tax regime
Cost competitivenessEffective labor relations
Reliable infrastructurePolicy stability & predictability
Dynamism of the economyOpen and positive attitudes
Quality of corporate governanceStrong R&D cultureAccess to financing
High educational levelBusiness-friendly environment
Skilled workforceEffective legal environment
WORLD COMPETITIVENESSDIGITAL RANKING 2020
All data are available from theWorld Competitiveness Online.
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Alpha AlphaLabelBeta BetaLabel Gamma GammaLabel1 2 2 2 2 2 24 4 4 2 2
6.5 4 4 2 28.5 4 4 2 211 4 4 2 2
2016 2017 2018 2019 2020
12 11 10 15 13
11 10 10 14 13
18 16 13 18 16
11 9 3 13 13
OVERALL
Future readiness
PEER GROUPS RANKINGS
EUROPE - MIDDLE EAST - AFRICA (40 countries) POPULATIONS > 20 MILLION (29 countries)
COMPETITIVENESS & DIGITAL RANKINGS
Technology
DIGITAL TRENDS - OVERALL
UNITED KINGDOM
OVERALL PERFORMANCE (63 countries)
OVERALL & FACTORS - 5 years
Knowledge
12 11 10
1513
18 19 2023
19
2016 2017 2018 2019 2020
Digital
Competitiveness
7 7 78
7
2016 2017 2018 2019 2020
3 3 36 5
2016 2017 2018 2019 2020
13 10 25 8
16 17 22 2213
13 11 25 11
Knowledge Talent Training & education Scientific concentration
Technology Regulatory framework Capital Technological framework
Future readiness Adaptive attitudes Business agility IT integrationThe direction of the triangle indicates the performance change from the last year: improved or stabledeclined
Overall Factors Sub-Factors
N.B. This graph provides only a comparison of the country’s performance in the two rankings.
u Overall top strengths
w Overall top weaknesses
Subfactors 2016 2017 2018 2019 20207 7 9 17 10
19 19 20 23 25
10 11 8 8 8
Talent Rank Rank Rank
Educational assessment PISA - Math 17 w 41 22 International experience 18 27 19 Foreign highly-skilled personnel 18 16 24 Management of cities 19 35 u 5 Digital/Technological skills 20 22 9u Net flow of international students 5 18 22 u 6
Subfactors 2016 2017 2018 2019 202011 12 7 18 17
25 24 17 22 22
16 16 17 18 22
Regulatory framework Rank Rank Rank
Starting a business 9 32 31 Enforcing contracts 27 17 19w Immigration laws 43 17 25 Development & application of tech. 13 18 15 Scientific research legislation 16 u 5 w 35 Intellectual property rights 10 w 53 14
Subfactors 2016 2017 2018 2019 20204 6 4 10 11
25 22 16 26 25
13 6 2 14 11
Adaptive attitudes Rank Rank Rank
E-Participation 6 28 7u Internet retailing 3 14 18 Tablet possession 17 26 27 Smartphone possession 22 23 10w Attitudes toward globalization 39 18 34
Training & education Scientific concentration
Talent
Robots in Education and R&D
IT integration
Business agility IT integration
Scientific concentration
Capital Technological framework
FACTORS BREAKDOWN - STRENGTHS AND WEAKNESSES
UNITED KINGDOM
FUTURE READINESS
TECHNOLOGY
Technological framework
Opportunities and threats E-GovernmentWorld robots distribution Public-private partnerships
IT & media stock market capitalization Communications technology
Regulatory framework
Capital
KNOWLEDGE
Entrepreneurial fear of failure
Agility of companies Cyber securityUse of big data and analytics Software piracyKnowledge transfer
Adaptive attitudes
Business agility
Venture capital Internet bandwidth speedInvestment in Telecommunications High-tech exports (%)
Funding for technological development Mobile Broadband subscribersBanking and financial services Wireless broadbandCountry credit rating Internet users
Training & education
Employee training Total expenditure on R&D (%)Total public expenditure on education Total R&D personnel per capitaHigher education achievement Female researchersPupil-teacher ratio (tertiary education) R&D productivity by publicationGraduates in Sciences Scientific and technical employmentWomen with degrees High-tech patent grants
WORLD TALENTRANKING 2020
All data are available from theWorld Competitiveness Online.
Visit our eShop
Alpha AlphaLabel Beta BetaLabel Gamma GammaLabel1 2 2 2 2 2 24 4 4 2 2
Value
4.8 % 27 9,052 US$ 20w 19.89 ratio 52w 17.08 ratio 51 5.24 Survey [0..10] 30w 5.65 Survey [0..10] 41 47.16 % 18 5.97 Survey [0..10] 35
Value
w 94.20 index 50 6.79 Survey [0..10] 32 6.06 Survey [0..10] 29 6.38 Survey [0..10] 16 7.22 Survey [0..10] 29 6.61 Survey [0..10] 18 39,774 US$ 17u 250,925 US$ 13 20.07 % 37u 7.91 Survey [0..10] 15 10.44 micrograms 16
Value
0.78 % 35 6.03 Survey [0..10] 28u 7.44 Survey [0..10] 14 6.24 Survey [0..10] 18 6.53 Survey [0..10] 15 6.62 Survey [0..10] 27 26.91 % 21 7.62 Survey [0..10] 17 7.13 Survey [0..10] 19w 5.44 Survey [0..10] 43u 6.80 number 7u 503 Average 13
Investment & Development 2020 Rank
Health infrastructure meets the needs of society
2020 Rank
Total public expenditure on education Percentage of GDP
ApprenticeshipsEmployee training is a high priority in companies
Readiness 2020 Rank
Educational assessment - PISA PISA survey of 15-year olds
Appeal
Exposure to particle pollution Mean population exposure to PM2.5, Micrograms per cubic metre
Labor force growth Percentage change
Index of a basket of goods & services in the main city, including housing (New York City = 100)
Skilled labor is readily available
Cost-of-living index
Female labor force Percentage of total labor force
Pupil-teacher ratio (secondary education) Ratio of students to teaching staff
are sufficiently implemented
Total public exp. on education per student Spending per enrolled pupil/student, all levels
Pupil-teacher ratio (primary education) Ratio of students to teaching staff
Management education meets the needs of the business community
Language skills are meeting the needs of enterprises
Student mobility inbound Foreign tertiary-level students per 1000 inhabitants
Primary and secondary education meets the needs of a competitive economy
Graduates in Sciences % of graduates in ICT, Engineering, Math & Natural Sciences
University education meets the needs of a competitive economy
Finance skills are readily available
International experience of senior managers is generally significant
Competent senior managers are readily available
Justice is fairly administered
Gross annual income including supplements such as bonuses, US$
Remuneration of management Total base salary plus bonuses and long-term incentives, US$
Effective personal income tax rate Percentage of an income equal to GDP per capita
Attracting and retaining talents is a priority in companies
Worker motivation in companies is high
Brain drain (well-educated and skilled people) does not hinder competitiveness in your economy
Quality of life is high
Foreign highly-skilled personnel are attracted to your country's business environment
Remuneration in services professions
OVERALL PERFORMANCE (63 countries)
IMD World Talent Ranking 2020
UNITED KINGDOM
2021
2324
23
3637 37
38 38
16
1918
192020 20
17
23
17
2016 2017 2018 2019 2020
Overall
Investment &Development
Appeal
Readiness
38
2023
17
Investment & Development
Appeal
Readiness
The direction of the triangle indicates the performance change from the last year: improved or stabledeclined
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IMD WORLDTALENTRANKING 2020
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ANK
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