gaps in global competitiveness persist widen

The "persisting divides in competitiveness "across regions and within regions, particularly in Europe, "are at the origin of the turbulence we are experiencing today, and this is jeopardising our future prosperity," said Klaus Schwab, founder and executive chairman of the Geneva-based WEF. 

“We urge governments to act decisively by adopting long-term measures to enhance competitiveness and return the world to a sustainable growth path.”

As in the past, the ranking’s of the ten most competitive jurisdictions is dominated by Northern and Western European countries, with the Netherlands in fifth place and Germany in sixth, this year’s WEF compilation shows.

(See table featuring top 10 jurisdictions, below).

While countries in Southern Europe — such as Portugal, Italy, Greece and Spain — "continue to suffer from competitive weaknesses", the UK, managed to leap two notches, to eighth place from tenth, leapfrogging Hong Kong, a summary of the report’s findings, on the WEF’s website, notes. 

 Elsewhere, Singapore remains in second position and Finland third, overtaking its Nordic neighbour, Sweden, which has fallen to fourth place.

Among the large, emerging market countries, the People’s Republic of China stands out as the most competitive, the report reveals.

The the WEF, which is best known to many for its hosting of an annual meeting in Davos, Switzerland, of politicians, economists and business leaders every year study by the WEF, compiles its annual competitiveness ranking by looking at more than 100 economic indicators, as well as by surveying 15,000 executives about their experiences with the countries in which they do business. The report profiles and ranks some 144 world economies.

The five least competitive countries, in declining order of competitiveness according to the WEF index, areYemen, Gunea, Haiti, Sierra Leone and Burundi.

 To download the full, 545-page report, click here.

 Source: World Economic Forum