Switzerland is in third place when it comes to global competitiveness, according to the annual ranking from the IMD Business School in Lausanne.

That is the first time Switzerland broke into the top three, jumping two places from last year.

Hong Kong came in at number one, followed by the United States.

Stephane Garelli is director of the World Competitiveness Yearbook at IMD, and he told radio RTS that the Swiss need to focus on three things to stay in the top three.

“I think we’re rediscovering the power of exports. Secondly the “Swiss made” is important for us .. a country somehow is what it manufactures and manages to export,” he said. “And it’s also about reindustrialisation, creating jobs. And that’s perhaps not so popular.”

Singapore and Sweden rounded out the top five.