The '2024 IPS National Competitiveness Global Conference' was successfully held on October 29, recording the highest attendance ever. Co-hosted by the Graduate School of Science and Technology Management (aSSIST), the United Nations Institute for Training and Research (UNITAR) in Switzerland, and IPS Switzerland, this event has established itself as a significant occasion in the field of national competitiveness. The conference featured in-depth discussions on the importance of national competitiveness and its future directions.
The event was organized by the International Competitiveness Research Institute, leveraging 26 years of accumulated expertise and reliability. Nearly 180 participants attended, nearly double the number from the previous year, including professors from various countries such as Switzerland, the United States, and China, as well as officials from the Seoul City Hall and foreign embassies in South Korea. This reflects a growing interest in national competitiveness.
In announcing the national competitiveness rankings, three major global institutions— the International Institute for Management Development (IMD), the World Economic Forum (WEF), and IPS Switzerland— presented various ranking reports. IMD and WEF focus on comprehensive competitiveness rankings, while IPS Switzerland evaluates countries based on two criteria: cost strategy and differentiation strategy. The cost strategy emphasizes a country’s cost efficiency, while the differentiation strategy focuses on innovation and the creation of unique value.
Notably, the 2024IPS ranking presentation gave special attention to analyzing the impact of the U.S.-China conflict on national competitiveness. In this presentation, the United States ranked 4th in both the cost strategy and differentiation strategy, showcasing its strengths in innovation and industrial development. This ranking is attributed to advancements in high-tech development and active growth in the industrial sector. In contrast, although China dropped to 22nd in the differentiation strategy rankings, it maintained its 9th position in the cost strategy. This suggests that ongoing geopolitical tensions are negatively impacting China's economic positioning.
The IPS model evaluates national competitiveness through eight elements, divided into tangible factors (such as factor conditions, demand conditions, related industries, and business environment) and intangible factors (including workers, policymakers, entrepreneurs, and experts). Adopting a cost strategy focuses on cost-related elements like factor conditions and workers, while choosing a differentiation strategy places more emphasis on demand conditions and innovation elements like experts.
In the cost strategy rankings, Canada, the United Arab Emirates (UAE), Australia, and the United States ranked at the top, benefiting from significant economic resources and geographical advantages. Conversely, in the differentiation strategy rankings, Switzerland, Denmark, Singapore, and the United States excelled, driven by technological innovation and high social capital.
The upcoming U.S. presidential election is expected to be a crucial variable that significantly influences national competitiveness, with in-depth discussions planned regarding the impact of this political event on the economy and preparations for the following year’s conference.
Established in 1993 in South Korea, the International Competitiveness Research Institute (IPS) aims to globalize research on national competitiveness and relocated to Geneva, Switzerland in 2020. This institute partners with international organizations to enhance the breadth and depth of its research and provides the World University Ranking for Innovation (WURI), which assesses innovation capabilities. The International Competitiveness Research Institute has been developed under South Korea's Ministry of Strategy and Finance since its establishment in 2006, inheriting and advancing longstanding research projects.
