Top 10 most resilient economies in Europe
Cyber attacks, natural hazards and supply chain failure have been cited as the three most pressing risks to business performance.
The 2017 FM Global Resilience Index ranks 130 countries and territories by their enterprise resilience to disruptive events such as cyber attacks and natural disasters. Now in its fourth year, the index aims to help business executives site facilities, select suppliers, evaluate established supply chains and identify customers who may be vulnerable.
The overall ranking given by FM Global is formed of three separate scores out of 100 looking at risk quality, supply chain and economic factors.
Europe dominates the top 10 rankings, accounting for the entire top eight in the world.
10: Netherlands (87.5)
Global rank: 12
Scoring a massive 93 out of 100 for supply chain, the fifth highest in the world, the Netherlands features so highly because of its tremendous sea and air freight links to the rest of the world. It’s economic rating ranked 30th out of 130 countries globally, with risk quality at 17th.
9: France (88.1)
Global rank: 11
As with the Netherlands, France’s overall rank is propped up by excellent risk and supply chain scores, which respectively rank fifth and 16th in the world. The economic factor, which represents political and macroeconomic influences on resilience, scores at 55.9 out of 100 (26th).
8: Finland (91.1)
Global rank: 8
A similar story continues here, with Finland’s supply chain resilience scoring a huge 91.9 out of 100, ranking it seventh in the world. The supply chain rank comprises four drivers: control of corruption, quality of infrastructure, local supplier quality and supply chain visibility.
7. Denmark (91.1)
Global rank: 7
Just pipping Finland to seventh spot is another northern European country in the form of Denmark, which ranks 13th in the world for risk quality. The risk quality factor measures the relative commercial and industrial property risk across countries. It comprises three drivers sourced from FM Global (exposure to natural hazard, natural hazard risk quality and fire risk quality) and a fourth driver that captures the inherent cyber risk of a country.
6. Norway (93.3)
Global rank: 7
Northern Europe is very well represented in FM Global’s rankings, and Norway scores very well on all three fronts, with its economic rating of 75.2 fourth best in the world. Risk ranks eighth and supply chain holds back at 20th.
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5. Germany (94.4)
Global rank: 5
Strong rankings of sixth in the world for risk quality and supply chain propel Germany into the top 5 overall resilient countries to do business in. The country ranks 13th economically – this score impacted by the lack of oil resources.
4. Austria (94.6)
Global rank: 4
Just ahead of its German neighbour is Austria, which ranks second in the world for supply chain resilience and credibility in areas such as supplier visibility and corruption control. Austria also comes ahead of Germany on economic resilience, ranking sixth globally.
3. Sweden (94.7)
Global rank: 3
Sweden is Northern Europe’s leading representative, praised for its stability and quality of supply chain infrastructure, second only to Japan, Austria and Switzerland.
2. Luxembourg (95.9)
Global rank: 2
Unsurprisingly, it is the economic strength of Luxembourg that launches it into the top two of FM Global’s rankings. Scoring a huge 85 out of 100, the strength of its financial services makes it a stable place to do business.
1. Switzerland (100)
Global rank: 1
Despite being third in the world for economic factors and 20th for risk quality, FM Global has given Switzerland a rating of 100 out of 100 for its supply chain resilience, which translates directly into the perfect score overall. An acknowledged area of stability for generations, the country has ranked first for the past five years. Excellent infrastructure and political stability contributed to the final ranking massively, with exposure to natural hazards bringing down the risk score. It has also been acknowledged that Switzerland has upped its game when it comes to tackling cyber security issues.
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