Colombia has moved between 50th and 60th place in the World Competitiveness Ranking in recent years. Credit reference image: desarrolloeconomico.gov.co
The latest 2026 World Competitiveness Ranking by the International Institute for Management Development (IMD) reshuffled the positions of the 70 economies evaluated. The top ten places were occupied by Singapore, which regained global leadership, Hong Kong, Switzerland, Taiwan, the United Arab Emirates, Denmark, Ireland, the Netherlands, Sweden, and the United States.
Behind that group of the world’s ten most competitive economies, which the United States joined after previously occupying 13th place, other Asian economies also moved up, including China and Saudi Arabia, which each gained four positions to rank 12th and 13th, respectively.
Luxembourg, which climbed six places, and Malaysia, which improved by eight positions to reach 15th place, also stood out.
Colombia Lost Five Positions
At the lower end of the ranking, which measures countries’ ability to create and maintain an environment that favors business competitiveness, investment, productivity, and economic growth by incorporating variables related to economic performance, government efficiency, business efficiency, and infrastructure, is Colombia.
The country fell five positions, moving from 54th place to 59th. This means it remained only eleven places above the lowest-ranked economy in competitiveness, which was Venezuela in 70th place for the second consecutive year. Colombia also ranked behind several countries in the region.
For example, Chile remained the best-positioned economy in Latin America, ranking 43rd despite slipping one place from the previous year. Argentina advanced four positions to 58th place. Behind Colombia (59th) were Peru (60th), Mexico (62nd), Brazil (65th), and Venezuela (70th).
One interpretation of Colombia’s decline is that the country lost ground to several emerging economies that managed to improve their indicators of productivity, institutional efficiency, and investment.
A retrospective view shows that Colombia has moved between 50th and 60th place in the World Competitiveness Ranking in recent years: in 2022 it ranked 57th; in 2023 it fell to 58th; in 2024 it rose to 57th; in 2025 it achieved its best recent result by reaching 54th place; and in 2026 it fell again to 59th place.
But Colombia was not the only country to experience a setback. Developed economies posted significant declines, such as Lithuania, which dropped 13 places, the largest decline among the top 40 economies. Belgium and the Czech Republic each lost eight places. Canada, Norway, Finland, and Iceland also recorded significant deteriorations.
One figure that stands out in the report is related to government efficiency. Between 2022 and 2026, that is, during the administration of President Gustavo Petro, the country moved from 59th place to 68th, one of the worst rankings in the entire measurement, with a score of only 20.3 points.
This result contrasts with other components where performance was relatively better. In business efficiency, Colombia ranked 51st; in economic performance, 53rd; and in infrastructure, 57th.
Five Recommendations for Colombia
The data show that the country’s main weaknesses continue to be concentrated in areas related to public finances, regulatory stability, institutional capacity, and the creation of favorable conditions for investment.
The report outlines five priority challenges for Colombia to regain competitiveness in the coming years.
Improve public finance management and reduce the fiscal deficit, an issue that has gained relevance amid discussions about debt sustainability and pressures on the National Government’s accounts.
Balance interest rate reductions with inflation control, seeking to boost economic growth without compromising price stability.
Improve job quality and close gender gaps in the labor market, factors considered fundamental for increasing productivity and well-being.
Strengthen collaboration between the public and private sectors to promote investment, especially in projects that expand the country’s productive capacity.
Move toward a growth model based on innovation, technology, and productivity gains, elements that are becoming increasingly important in global competitiveness.