![]() ![]() ![]() How are Global Competitiveness Reports compiled?Global Competitiveness Reports are a comprehensive assessment of economies worldwide.The report evaluates the competitiveness of economies on several factors such as innovation, infrastructure, institutions, macroeconomic conditions, healthcare, education, and more.The World Economic Forum (WEF) is responsible for compiling these reports annually.Since 1979, the WEF has been publishing these reports to help the governments, businesses, and other stakeholders to identify the key issues that need attention to improve the overall competitiveness of economies. ![]() 2 Health and Primary Education 14ĩ Higher Education and Training 16.9 Goods Market Efficiency 19.9 Labor Market Efficiency 16.7 Financial Market Development 18.ĥ Technological Readiness 19.1 Market Size 10.7 Business Sophistication 16.8 Innovation 13.Ĥ The scores of the 12 pillars are then aggregated into an overall competitiveness score, which ranges from 0 to 100.The higher the score, the more competitive the economy is considered to be.The GCRs are widely used by businesses, policymakers, and academics to identify strengths and weaknesses of countries in terms of competitiveness, and to develop strategies to improve competitiveness.They also provide useful insights into global trends and challenges, and help to foster dialogue and collaboration among different stakeholders. Pillars of Competitiveness Score (out of 100) Institutions 22.8 Infrastructure 21.7 Macroeconomic Environment 18. What are Global Competitiveness Reports?Global Competitiveness Reports (GCRs) are annual assessments of the economic competitiveness of countries around the world.The reports are compiled by the World Economic Forum (WEF), which is a non-profit organization that aims to improve the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas.Each GCR assesses the competitiveness of 141 economies based on various factors, including institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labor market efficiency, financial market development, technological readiness, market size, business sophistication, and innovation.These factors are classified into 12 pillars of competitiveness, and each pillar is given a score out of 100. Global competitiveness is a crucial aspect for any country seeking to attract foreign investment, expand business opportunities, and improve the standard of living for its citizens.The World Economic Forum, recognizing the importance of measuring a country's competitiveness, publishes an annual Global Competitiveness Report.This report is a comprehensive tool that assesses a country's landscape of productivity, stability, institutions, and infrastructure, among other factors, which impact their competitiveness in the global market.In this blog post, we will discuss what Global Competitiveness Reports are, how they are compiled, and the benefits of using them as a resource for investors, policymakers, and the general public. ![]()
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