5.1.2 Number of international schools per 100,000 inhabitants

5.1 EDUCATION 5.1.1 Quality of the educational system The educational system meets the needs of a competitive economy (on a scale from 0 to 10, the higher the better) 2.56 3.31 3.81 4.38 6.31 6.00 5.90 5.74 5.60 5.46 5.15 5.15 7.37 7.23 7.12 7.03 8.25 8.46 5.1.2 Number of international schools per 100,000 inhabitants Dubaï Dubai Singapour Singapore Genève Geneva Vienne Vienna Amsterdam Varsovie Warsaw Bruxelles Brussels Shanghai Paris Barcelone Barcelona Bombay Mumbai Dublin Moscow Moscou Francfort Frankfurt Milan Londres London Sao Paulo New York 0.62 0.61 0.48 0.39 0.30 0.26 0.24 0.22 0.19 0.16 0.10 0.07 0.02 1.43 1.36 1.15 1.07 4.27 Source: ISC Research Ltd, Oxon 2012 www. Iscreserach.com Note: This statistic takes into account the population of the urban area. The figures relate therefore only to English-medium international schools. Furthermore, data regarding Geneva includes some English-medium international schools in the state of Vaud, near Geneva. The figures do not include French and German International schools. 48

5.1.3 Quality of management education Management education meets the needs of the business community (on a scale from 0 to 10, the higher the better) 4.63 4.52 4.31 4.18 3.94 5.26 7.49 7.19 7.03 6.97 6.75 6.43 6.37 6.29 5.93 5.79 8.12 8.00 5.1.4 Executive education ranking School Country Rank IMD Switzerland (Lake Geneva Region) 1 Harvard Business School United States 2 Thunderbird School of Global Management United States 3 IESE Business School Spain 4 University of Virginia: Darden United States 5 London Business School United Kingdom 8 HEC Paris 9 INSEAD /Singapore 10 Fundação Dom Cabral Brazil 17 Ceibs China 29 SDA Bocconi Italy 32 Vlerick Leuven Gent Management Belgium 41 Nyenrode Business Universiteit Netherlands 50 Source: Financial Times, Executive Education 2012 www.ft.com Note: Data for Austria, India, Ireland, Germany, Hungary, Poland, Russia and the United Arab Emirates are not available. 49

5.1 education 5.1.5 University rankings University Country Rank Swiss Federal Institute of Technology Lausanne (EPFL) Switzerland 1 Swiss Federal Institute of Technology of Zurich (ETHZ) Switzerland 2 Cambridge University United Kingdom 3 Oxford University United Kingdom 4 Imperial College London United Kingdom 6 Zurich University Switzerland 10 ERASMUS University Rotterdam Netherlands 12 Basel University Switzerland 14 Geneva University Switzerland 15 Paris XI Sud University 25 Catholic University of Leuven Belgium 34 Heidelberg University Germany 45 Vienna University Austria 65 Milan University Italy 72 Valence University Spain 81 Moscow Lomonosov State University Russia 100 Source: Leiden University The Centre for Science and Technology Studies (CWTS) 2012 5.1.6 Development of knowledge transfer Level of development of knowledge transfer between companies and universities (on a scale from 0 to 10, the higher the better) Émirats United Arabes Emirats Unis 4.75 4.35 4.30 4.13 4.04 3.62 3.42 3.23 7.50 7.40 7.19 6.69 6.62 6.42 6.07 5.76 5.65 8.11 50

5.1.7 Local availability of specialized research and training services 4.0 4.4 4.3 5.6 5.4 5.4 5.2 5.0 4.9 4.9 4.8 4.8 6.1 6.1 6.1 5.9 5.9 6.4 Source: World Economic Forum The Global Competitiveness Report 2012-2013 www.weforum.org 51

5.2 LABOR MARKET 5.2.1 Labor market regulation Labor regulations do not hinder business activities (on a scale from 0 to 10, the higher the better) Russia Russie 2.18 3.85 3.51 3.09 3.02 5.53 5.44 5.37 5.28 5.22 4.97 4.58 4.44 6.54 6.41 6.80 7.37 8.28 5.2.2 Unemployment rate (in %) Singapour Singapore Chine China Brésil Brazil Irlande Ireland 2.00 3.76 4.10 4.20 4.30 4.43 5.75 6.00 6.63 7.20 8.05 8.40 8.95 9.67 9.70 9.80 14.20 21.60 Reference year: 2011 52

5.2.3 Statutory notice of termination for an employee with 8 years of service 1 Notice period (month/s) Brazil 1 Singapore 1 Spain 1 China 1 United Arab Emirates 1 Switerland 2 United States 2 2 United Kingdom 2 Russian Federation 2 2 Netherlands 2 Ireland 2 Germany 3 India 3 Poland 3 Italy 3 Austria 3 Belgium 6 Notes : 1. These figures refer to white-collar employees with an open-ended work contract. More generous provisions may be specified in sectors where collective labor contracts apply. 2. United States: Minimum notice period mandatory for companies employing 100 people and more. For smaller size companies, there is no legal minimum requirement but generally a two-week notice is given. 5.2.4 Severance package for managers (monthly salaries) 1 This study is d on the analysis of different compensation systems adopted by most companies in each country. 5 years of service 10 years of service 20 years of service Germany 8-10 10-12 12-18 Austria 3-6 4-8 9-18 Belgium 9 15 24 Brazil 0 0 0 China 2 0-5 10 0-12 United Arab Emirates 3.45 8.38 18.23 Spain 3-5 6-10 12-20 United States 3 0 0 0 4-8 5-10 6-18 India 0.5-2.5 2.5-5 5-7.5 Ireland 8-12 10-14 12-18 Italy 4 18-24 20-28 24-30 Netherlands 8-10 15-18 15-18 Poland 2 3 3 United Kingdom 6-9 9-12 14-22 Russian Federation 0.5-1 0.5-1 0.5-1 Singapore 5 0-5 0-10 0-20 Switzerland 3-6 4-8 5-8 Notes: 1. These figures do not include mandatory notice period and represent the common and/or legal severance pay. On the other hand, age and length of service are determining factors. 2. China: The amount of severance pay varies according to the region but must not exceed 12 months. 3. United States: No legal severance pay. 4. Italy: Legal severance pay. 5. Singapore: No legal severance pay. In practice, some employers pay a severance pay of one month per year of service. 53

5.2 LABOR MARKET 5.2.5 Global pension The table shows the overall value for each country, together with the value for each of the three sub-indices: adequacy (40%), sustainability (35%) and integrity (25%). Each value represents a score between 0 (lowest level) and 100 (highest level). Overall value Adequacy Sustainability Integrity Netherlands 78.9 77.0 73.0 90.3 Switzerland 73.3 71.3 67.9 84.1 United Kingdom 64.8 68.1 46.5 85.0 United States 59.0 58.3 58.4 61.1 Poland 58.2 63.6 43.4 70.1 Brazil 56.7 71.5 26.9 74.8 Germany 55.3 65.2 35.9 66.7 Singapore 54.8 42.0 54.2 76.2 54.7 74.3 32.0 55.2 China 45.4 55.7 30.5 49.7 India 42.4 37.4 40.7 52.8 Source: Mercer, Melbourne Mercer Global Pension Index, October 2012 www.mercer.com Note: Data for Austria, Belgium, Ireland, Italy, Poland, Spain, the Russian Federation and the United Arab Emirates are not available. 5.2.6 and weekly working hours, holidays and paid vacation working time * (in hours) Weekly working time ** (in hours) Holidays and paid vacation (in days) India 2,181 48 20 Singapore 2,088 40 25 United Arab Emirates*** 2,000 48 37 China 1,999 40 21 United States 1,911 40 25 Switzerland 1,886 41 30 Brazil 1,825 44 30 Ireland 1,807 39 33 Italy 1,790 38 39 Poland 1,784 40 38 Russian Federation 1,763 40 34 United Kingdom 1,762 38 36 Austria 1,746 40 39 Netherlands 1,745 37 35 Spain 1,714 40 32 Germany 1,704 41 39 Belgium 1,698 37 30 1,588 35 36 Note: * Excluding weekends and statutory holidays. ** This corresponds to the legal weekly work hours according to the national legislation. *** During Ramadan, a working day includes 6 hours instead of 8. 54

5.2.7 Hiring and firing practices Hiring and firing practices are flexible (on a scale from 1 to 7, the higher the better) 4.0 3.9 3.7 3.5 3.5 3.3 3.1 3.1 3.1 2.9 2.8 2.6 4.3 4.5 5.0 5.0 5.7 5.6 Source: World Economic Forum The Global Competitiveness Report 2012-2013 www.weforum.org 5.2.8 Work days lost through labor conflicts (per year and per 1,000 employees) 4 5 8 30 32 33 57 89 93 103 173 Source: Ernst & Young Switzerland and Europe in the eyes of international managers 2009 www.ey.com Note: Data for Brazil, China, India, Poland, Singapore, the Russian Federation and the United Arab Emirates are not available. 55

5.3 HUMAN RESOURCES 5.3.1 Global Talent Index The benchmarks the countries on their capacity for developing, attracting and retaining talent, both in 2011 and projected to 2015. Overall score Quality of labor force Talent environment Proclivity to attracting talent 2011 2015 2011 2015 2011 2015 2011 2015 United States 74.2 74.5 88.8 89.6 100.0 100.0 62.2 71.9 Singapore 60.2 61.9 83.5 86.0 81.9 87.5 68.4 66.9 Switzerland 58.5 60.9 84.0 84.7 87.5 87.5 58.7 53.8 Netherlands 58.3 59.4 81.9 82.4 75.0 80.6 41.6 38.4 United Kingdom 58.2 59.3 73.6 74.2 84.1 86.1 41.0 45.1 Germany 57.9 59.9 81.9 82.9 75.0 81.9 43.2 51.1 Ireland 57.4 58.0 74.3 74.4 75.0 80.6 46.6 48.1 Austria 55.7 53.5 74.0 71.4 87.5 87.5 45.2 43.2 Belgium 55.5 57.2 68.2 64.1 36.4 75.0 43.5 44.9 55.1 58.1 77.1 77.1 75.0 80.6 41.3 47.3 Spain 49.7 49.5 60.0 59.3 51.4 63.9 43.6 42.3 Italy 46.7 48.4 51.8 52.4 56.9 62.5 38.3 40.9 Poland 44.0 46.7 46.7 57.3 55.6 55.6 36.3 29.1 China 41.1 46.3 40.4 41.2 58.3 59.7 13.6 20.0 Russian Federation 40.8 43.1 49.4 50.2 55.6 55.6 21.0 31.4 India 40.5 42.2 64.0 64.2 44.4 50.0 19.7 29.9 Brazil 38.2 41.7 39.4 45.2 50.0 50.0 30.3 40.0 Source: Heidrick & Struggles International, Inc The Global Talent Index 2011 Note: Data for the United Arab Emirates are not available. 5.3.2 Language skills Adequacy of language skills with the needs of enterprises (on a scale from 0 to 10, the higher the better) 3.23 3.04 3.30 4.40 4.40 4.37 4.06 4.02 5.04 6.33 6.63 7.50 7.35 7.31 7.22 8.07 8.32 8.75 56

5.3.3 Availability of skilled labor Availability of skilled labor (on a scale from 0 to 10, the higher the better) 3.80 4.44 6.77 6.65 6.64 6.63 6.59 6.57 6.39 6.13 5.88 5.85 5.78 5.73 5.48 5.11 4.98 8.08 5.3.4 Workers motivation Level of workers motivation in companies (on a scale from 0 to 10, the higher the better) 5.20 5.08 4.78 4.65 4.46 6.55 6.27 6.10 6.07 6.06 5.78 5.73 8.05 7.73 7.41 7.39 7.17 7.15 57

5.3 HUMAN RESOURCES 5.3.5 Attractiveness for foreign high-skilled labor Foreign high-skilled labor is attracted to a country s business environment (on a scale from 0 to 10, the higher the better) 3.31 4.41 4.37 7.30 6.90 6.74 6.73 6.21 6.06 6.03 5.88 5.73 5.35 5.20 7.88 8.21 8.56 9.29 5.3.6 International experience of senior managers International experience of senior managers is generally significant (on a scale from 0 to 10, the higher the better) 3.75 4.09 4.03 6.50 6.46 6.16 5.84 5.76 5.45 5.36 5.14 4.80 4.69 4.68 7.45 7.35 7.26 8.33 58

5.4 5.4.1 General Manager CEO AVERAGE REMUNERATION AND SALARIES ADJUSTED TO PRODUCTIVITY, IN US$ Ireland 261,849 110 288,033 27,958 260,075 United Arab Emirates 273,548 70 191,484 0 191,484 Netherlands 349,896 89 311,407 35,752 275,655 Austria 359,729 87 312,964 65,229 247,735 Belgium 399,998 99 395,998 96,838 299,160 Italy 450,790 85 383,171 85,632 297,539 Switzerland 470,925 108 508,599 66,147 442,453 478,159 94 449,469 138,202 311,267 United States 495,267 100 495,267 35,195 460,071 Germany 504,234 78 393,303 64,399 328,904 Spain 545,124 72 392,489 74,941 317,548 Singapore 582,822 68 396,319 54,694 341,625 United Kingdom 601,879 73 439,372 53,281 386,091 Poland 1,008,341 28 282,336 44,819 237,516 Russian Federation 1,788,772 20 357,754 73,822 283,932 Brazil 2,483,352 16 397,336 74,299 323,038 China 2,821,587 6 169,295 45,722 123,573 India 4,954,579 3 148,637 21,868 126,770 Note: : data for China and India are high in comparison to other countries. This is due to the fact that these are emerging countries, the lower productivity therefore generates higher amounts. 5.4.2 Head of finance CFO United Arab Emirates 138,340 70 96,838 0 96,838 Ireland 158,654 110 174,520 16,940 157,580 Netherlands 220,269 89 196,039 22,507 173,532 United Kingdom 248,624 73 181,496 22,009 159,486 248,661 94 233,741 71,871 161,871 Belgium 250,767 99 248,259 60,710 187,549 Spain 254,899 72 183,527 35,042 148,485 Austria 266,192 87 231,587 48,268 183,319 United States 272,813 100 272,813 19,387 253,426 Italy 274,553 85 233,370 52,154 181,216 Switzerland 289,858 108 313,046 40,714 272,333 Germany 315,734 78 246,273 40,325 205,948 Singapore 338,479 68 230,166 31,764 198,402 Poland 601,992 28 168,558 26,758 141,800 Russian Federation 1,027,473 20 205,495 42,404 163,091 Brazil 1,353,866 16 216,619 40,506 176,113 China 2,482,993 6 148,980 40,235 108,744 India 3,510,142 3 154,752 21,460 133,292 Note: : data for China and India are high in comparison to other countries. This is due to the fact that these are emerging countries, the lower productivity therefore generates higher amounts. 59

5.4 5.4.3 Head of Human Resources AVERAGE REMUNERATION AND SALARIES ADJUSTED TO PRODUCTIVITY, IN US$ United Arab Emirates 114,008 70 79,805 0 79,805 Ireland 152,347 110 167,582 16,266 151,315 Netherlands 187,452 89 166,833 19,154 147,679 Austria 196,297 87 170,779 35,594 135,185 United States 226,298 100 226,298 16,082 210,217 Spain 227,163 72 163,557 31,229 132,328 United Kingdom 233,330 73 170,331 20,655 149,676 Belgium 233,569 99 231,233 56,546 174,687 233,809 94 219,781 67,578 152,203 Italy 260,027 85 221,023 49,395 171,628 Germany 276,926 78 216,003 35,368 180,634 Singapore 278,310 68 189,251 26,118 163,133 Switzerland 284,866 108 307,655 40,013 267,643 Poland 513,440 28 143,763 22,822 120,941 Russian Federation 753,572 20 150,714 31,100 119,615 Brazil 1,349,510 16 215,922 40,376 175,546 China 2,407,539 6 144,452 39,013 105,440 India 3,033,923 3 91,018 13,391 77,627 Note: : data for China and India are high in comparison to other countries. This is due to the fact that these are emerging countries, the lower productivity therefore generates higher amounts. 5.4.4 Head of IT Ireland 135,953 110 149,548 14,516 135,032 United Arab Emirates 162,509 70 113,757 0 113,757 Netherlands 167,048 89 148,673 17,069 131,604 Spain 178,600 72 128,592 24,553 104,039 Singapore 189,031 68 128,541 17,739 110,802 Belgium 197,350 99 195,376 47,778 147,599 Austria 202,454 87 176,135 36,711 139,425 Italy 204,138 85 173,517 38,778 134,739 247,179 94 232,348 71,442 160,906 Switzerland 257,662 108 278,275 36,191 242,083 United States 264,331 100 264,331 18,784 245,547 Germany 267,328 78 208,516 34,142 174,374 United Kingdom 364,178 73 265,850 32,238 233,611 Poland 511,685 28 143,272 22,744 120,528 Russian Federation 770,604 20 154,121 31,803 122,318 Brazil 1,241,549 16 198,648 37,146 161,502 China 2,458,160 6 147,490 39,833 107,657 India 3,018,722 3 90,562 13,324 77,238 Note: : data for China and India are high in comparison to other countries. This is due to the fact that these are emerging countries, the lower productivity therefore generates higher amounts. 60

5.4.5 Programmer Analyst United Arab Emirates 32,685 70 22,880 0 22,880 Ireland 56,293 110 61,922 6,011 55,912 Italy 76,673 85 65,172 14,565 50,607 Belgium 81,688 99 80,871 19,776 61,094 83,065 94 78,081 24,008 54,073 Singapore 84,162 68 57,230 7898 49,332 United States 86,293 100 86,293 6132 80,161 Germany 108,333 78 84,500 13,836 70,664 Austria 111,244 87 96,782 20,172 76,611 Netherlands 119,542 89 106,393 12,215 94,178 Switzerland 122,263 108 132,044 17,173 114,871 Spain 133,503 72 96,122 18,353 77,769 Poland 137,352 28 38,459 6,105 32,353 Russian Federation 192,395 20 38,479 7,940 30,539 United Kingdom 197,516 73 144,187 17,485 126,702 Brazil 238,951 16 38,232 7,149 31,083 China 324,690 6 19,481 5,261 14,220 India 416,294 3 12,489 1,837 10,651 Note: : data for China and India are high in comparison to other countries. This is due to the fact that these are emerging countries, the lower productivity therefore generates higher amounts. 5.4.6 Accountant United Arab Emirates 25,028 70 17,519 0 17,519 Ireland 53,735 110 59,109 5,737 53,371 Spain 62,168 72 44,761 8,547 36,214 Netherlands 67,774 89 60,319 6,925 53,394 Austria 70,466 87 61,305 12,777 48,528 Italy 72,129 85 61,310 13,702 47,608 United States 73,660 100 73,660 5,235 68,425 Belgium 76,936 99 76,166 18,626 57,541 79,682 94 74,901 23,030 51,870 Singapore 79,947 68 54,364 7,503 46,861 Poland 82,743 28 23,168 3,678 19,490 United Kingdom 91,792 73 67,008 8,126 58,882 Russian Federation 93,959 20 18,792 3,878 14,914 Germany 95,751 78 74,686 12,229 62,457 Switzerland 101,903 108 110,056 14,313 95,742 Brazil 175,725 16 28,116 5,257 22,858 China 267,518 6 16,051 4,335 11,716 India 290,811 3 8,724 1,284 7,441 Note: : data for China and India are high in comparison to other countries. This is due to the fact that these are emerging countries, the lower productivity therefore generates higher amounts. 61

5.4 5.4.7 Purchasing Manager AVERAGE REMUNERATION AND SALARIES ADJUSTED TO PRODUCTIVITY, IN US$ Ireland 73,683 110 78,921 5,737 73,184 Singapore 95,134 68 63,266 7,503 55,764 Netherlands 96,208 89 82,720 6,925 75,795 Belgium 97,318 99 91,410 18,626 72,784 Austria 102,780 87 83,559 12,777 70,782 111,399 94 95,548 23,030 72,517 Spain 114,641 72 75,328 8,547 66,781 Italy 116,985 85 90,917 13,702 77,215 United States 121,718 100 118,303 5,235 113,068 United Arab Emirates 121,771 70 85,240 0 85,240 Germany 143,770 78 106,008 12,229 93,778 Switzerland 145,192 108 150,727 14,313 136,414 United Kingdom 145,203 73 101,270 8,126 93,144 Russian Federation 196,957 20 35,141 3,878 31,263 Poland 291,154 28 72,259 3,678 68,582 Brazil 312,088 16 45,854 5,257 40,597 India 908,638 3 24,532 1,284 23,249 China 969,366 6 46,789 4,335 42,454 Note: : data for China and India are high in comparison to other countries. This is due to the fact that these are emerging countries, the lower productivity therefore generates higher amounts. 5.4.8 Marketing Manager United Arab Emirates 75,894 70 53,126 0 53,126 Ireland 91,364 110 100,500 9,755 90,745 Netherlands 123,408 89 109,833 12,610 97,223 Belgium 133,276 99 131,943 32,266 99,677 Austria 133,962 87 116,547 24,291 92,256 Spain 140,004 72 100,803 19,247 81,556 Italy 152,177 85 129,350 28,907 100,443 157,074 94 147,649 45,399 102,250 Switzerland 165,192 108 178,407 23,203 155,204 Germany 170,963 78 133,351 21,835 111,516 United States 180,983 100 180,983 12,861 168,122 United Kingdom 183,867 73 134,223 16,277 117,947 Singapore 187,771 68 127,684 17,621 110,063 Poland 286,169 28 80,127 12,720 67,408 Russian Federation 421,549 20 84,310 17,397 66,913 Brazil 632,785 16 101,246 18,932 82,313 India 742,934 3 22,288 3,279 19,009 China 1,038,266 6 62,296 16,824 45,472 Note: : data for China and India are high in comparison to other countries. This is due to the fact that these are emerging countries, the lower productivity therefore generates higher amounts. 62

5.4.9 Communication and PR Specialist United Arab Emirates 70,355 70 49,249 0 49,249 Ireland 76,825 110 84,507 8,203 76,304 Netherlands 112,179 89 99,839 11,462 88,377 Belgium 112,470 99 111,345 27,228 84,116 United States 123,691 100 123,691 8790 114,901 Austria 127,533 87 110,954 23,125 87,829 Spain 142,227 72 102,404 19,553 82,851 Italy 142,391 85 121,033 27,049 93,984 Switzerland 144,479 108 156,037 20,294 135,743 151,449 94 142,363 43,774 98,589 Germany 152,003 78 118,562 19,413 99,149 Singapore 161,735 68 109,980 15,178 94,802 United Kingdom 167,960 73 122,611 14,868 107,742 Poland 254,905 28 71,373 11,330 60,043 Russian Federation 290,869 20 58,174 12,004 46,170 Brazil 516,559 16 82,649 15,455 67,195 India 662,186 3 19,866 2,923 16,943 China 765,820 6 45,949 12,410 33,540 Note: : data for China and India are high in comparison to other countries. This is due to the fact that these are emerging countries, the lower productivity therefore generates higher amounts. 5.4.10 Legal Adviser Ireland 77,093 110 84,802 8,231 76,571 United Arab Emirates 79,489 70 55,642 0 55,642 Belgium 92,966 99 92,036 22,507 69,529 Austria 102,056 87 88,788 18,505 70,283 Netherlands 110,906 89 98,706 11,332 87,374 Italy 119,897 85 101,912 22,776 79,137 Spain 122,122 72 87,928 16,789 71,139 133,789 94 125,761 38,669 87,092 Poland 147,982 28 41,435 6,578 34,857 Germany 152,245 78 118,751 19,444 99,307 United States 153,822 100 153,822 10,931 142,890 Singapore 157,212 68 106,904 14,753 92,151 Switzerland 158,491 108 171,171 22,262 148,909 United Kingdom 165,200 73 120,596 14,624 105,972 Russian Federation 173,116 20 34,623 7,144 27,479 Brazil 289,867 16 46,379 8,672 37,706 China 547,807 6 32,868 8,877 23,992 India 676,171 3 20,285 2,984 17,301 Note: : data for China and India are high in comparison to other countries. This is due to the fact that these are emerging countries, the lower productivity therefore generates higher amounts. 63