US tops dynamic economy ranking

BRUSSELS -- The United States is head and shoulders above the rest of the world in terms of competitiveness but Europe risks ceding second place to Asian regions, according to a study released yesterday.

US regions took all but one of the 30 top spots in a ranking of world competitiveness by British-based consultancy Robert Huggins Associates, with San Francisco in the top position and Stockholm the lone European interloper.

The report, which said Asia Pacific regions should start catching up, will stoke fresh concern that the European Union is set to miss its goal of becoming the world's most dynamic economy in the world by the end of the decade.

Averaging regional continental scores put North America at 137.3, Europe at 76.9, and Asia at 60.9.

The index incorporates indicators such as patent registrations, research and development investment by the public and private sectors, access to private equity, information and communication technology infrastructure, and education spending.

San Francisco, with its cluster of high-technology industry in the Silicon Valley, won for the second year running as it combined sustainable economic development with high productivity through investment in technology and people.

Boston, home to eight research universities which added an estimated $7.4 billion to the regional output, rose one place to second and scored highly for labor productivity, research and development activity, and patent registration.