Sweden has been confirmed as one of the world's most competitive places to do business in an international study by consultants Deloitte Touche, Radio Sweden reported on Thursday.

The report, "Trading Places," ranked Sweden second out of 25 economies in terms of business competitiveness, behind the United States and ahead of Finland, Denmark, Germany and the UK.

The rankings were compiled using a competitiveness index based on key drivers of wealth creation -- innovation, enterprise, investment and macroeconomic data.

It also included attitudes from business leaders who provided their perspectives on Sweden's business environment today as well as predictions for the future.

Sweden also came second in an equivalent report by Deloitte in 2004.

Deloitte said Sweden, along with its Nordic neighbors Finland and Denmark, was ranked highly due chiefly to its strength in innovation and investment.

A study published in September by the Geneva-based World Economic Forum placed Sweden third in economic competitiveness, behind Finland and the US.

Source: Xinhua