By Margareta Drzeniek Hanouz Sep 29, 2015
The Global Competitiveness Report 2015-2016
assesses the competitiveness of 140 world economies. Using a mixture of
quantitative and survey data, it ranks countries overall by combining
113 indicators grouped under 12 pillars of competitiveness:
institutions; infrastructure; macroeconomic environment; health and
primary education; higher education and training; goods market
efficiency; labour market efficiency; financial market development;
technological readiness; market size; business sophistication; and
innovation.
Switzerland tops the Global Competitiveness Index for
the seventh year in a row. It leads the world in its capacity to
innovate and scores highly for its education system and labour market
efficiency. Switzerland’s infrastructure is strong, its public
institutions are effective and transparent, and its macroeconomic
environment is more stable than most. Still, the cost of doing business
in Switzerland is high – and its strong currency, negative real interest
rates and uncertainty about future immigration policy are all cautions
against complacency.
Singapore beats everyone but Switzerland for the fifth
consecutive year. Its competitiveness is broad-based – it scores in the
top 10 in nine out of the 12 pillars. Its particular strengths are the
efficiency of its goods, labour and financial markets and the quality of
its higher education and training system. It also scores strongly for
its infrastructure, macroeconomic stability and the transparency and
efficiency of institutions. Areas for improvement include a relatively
low rate of participation of women in the workforce.
The United States holds steady in third place. The
foundations for its competitiveness include human capital, sophisticated
businesses and capacity for innovation, with high levels of spending on
research and development and good collaboration between the private
sector and academia. It has improved in the last year on measures of
government efficiency and the soundness of its financial markets – but
the expected phase-out of accommodative monetary policy will test
improvements in macroeconomic stability. The US must also avoid
complacency on education – the country ranks 18th for quality of education and improvements are required for the nation to remain a talent-driven economy.
Global Competitiveness Report 2015-2016 video
The Global Competitiveness Report 2015-2016 is available here.
Read the complete article here:
World Economic Forum
https://agenda.weforum.org/2015/09/the-worlds-top-10-most-competitive-economies/?utm_content=buffer4d2d5&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer
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