OTTAWA – Canada has fallen to 10th place in the latest rankings of business competitiveness by the IMD World Competitiveness Center, its worst position in several years.
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The Swiss-based group, part of the IMD business school, ranked Canada in fifth place last year.
The drop comes as the downturn in commodity prices hits the Canadian economy hard.
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The IMD says weak performance by the domestic economy hurt Canada’s overall ranking.
Hong Kong was ranked first in competitiveness for 2016, moving up from second place last year.
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Switzerland was second, while the United States was third.
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