Cyprus 34rth in Global Competitiveness Report

Cyprus is the 34rth most competitive economy in the world, according to the World Economic Forum's Global Competitiveness report for 2009-2010.

The report places Cyprus in the 34rth position with 4.57 points in an index of 133 countries. The competitiveness of the Cypriot economy advanced six positions compared to the 2008-2009 report.

Switzerland tops the overall ranking, while the United States fell one place to second position. Singapore, Sweden and Denmark complete out the top five.