Australia climbs six places in global competitiveness rankings

Australia has recorded its best global competitiveness ranking in more than a decade, with growing investment, a strong labor market and technological infrastructure improvements helping it surpass other international leaders.

But challenges, particularly around economic complexity persist, with poor levels of entrepreneurship, office rents and internet speeds just some of the issues flagged in the global index.

The latest International Institute for Management Development (IMD) World Competitiveness Yearbook report, released on Tuesday, places Australia 13th out of 67 nations, up from 19th last year.

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