Switzerland has lost its top spot in the global competitiveness rankings and moves to third place, according to the Lausanne-based business school IMD. + Get the most important news from Switzerland in your inbox Switzerland now ranks behind Hong Kong and Singapore, which is once again in first place, as it was in 2024. This decline is due to a sharp fall in the economic performance indicator, which dropped 24 places to finish 37th, according to a statement released by the IMD. Next come Taiwan, which has climbed two places, and the United Arab Emirates, which has retained the fifth place it secured in 2025 following its meteoric rise of seven places the previous year. The slump in Switzerland’s economic performance is due to a sharp deterioration in direct investment flows, which is itself linked to geopolitical shocks. Within this indicator, the cost-of-living index of 109.75 (65th in the world) and petrol prices of $2.07 per litre (64th) show that Swiss businesses are facing …