Netherlands fourth most likely to recover economically from the pandemic

Out of 37 countries, the Netherlands has come in as fourth most likely to recover financially from the coronavirus crisis. This is according to the Global Competitiveness Report by the World Economic Forum (WEF).

The top three countries are Finland, Sweden, and Denmark. After the Netherlands, China comes in at number 5, then Canada, followed by New Zealand in seventh.

Where the Netherlands ranks high

A few areas that set the Netherlands up for success are the nation’s digital skills, flexible work schedules, preparedness through infrastructure, and the commitment to keeping school curricula up-to-date.

These strengths are greatly beneficial when working from home, and when preparing for the future labour market.

“Although we are now in a hard lockdown, the Dutch economy is so robust that it can transform itself out of this crisis,” researcher Henk Volberda tells the NOS. “You now hear economists say that the lockdown is bad for our economy. But the Netherlands can handle it well. The expected recovery capacity is great.”

Health systems

Also expected to aid the country’s economic recovery is the widespread access to healthcare, the overall capacity of the healthcare system, and the level of health research.

According to the report, this benefit can also be seen in collaborations between universities and companies in biotechnology and vaccine development. This proven ability to develop solutions also places the nation in a better position to manage future pandemics.

Poor tax score

Where the Netherlands holds room for improvement is in the field of taxes. Considered a tax haven for large corporations, Volberda says that the tax on companies, as well as capital and labour, must be adjusted in a national and international context.

The Netherlands can also improve research and innovation regarding new markets. To be more competitive in the global market, more effort could go toward new technologies such as artificial intelligence, robotics, and big data.

How do think the Netherlands will fare in economic recovery post-pandemic? Tell us your thoughts in the comments below.

Feature Image: Skitterphoto/Pixabay

Brin Andrews
Brin Andrewshttp://brinandrews.com
Brin is an avid ice cream eater from the US, calling Amsterdam home since early 2019. As a lover of mountains, life below sea level has been a bit of an adjustment, but she manages to stay afloat with long runs, wine, and frequent travel. Incidentally, these are a few of her favourite topics to write about.

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