The 27 Most Competitive Countries In The World
REUTERS/Chris Wattie
Weight lifting on Parliament Hill in Ottawa.
The report ranks these economies on the "12 pillars of competitiveness": 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.
"Smart investment in skills and innovation is key to enhanced productivity and competitiveness," the report said. "It also supports more inclusive growth by allowing everyone to contribute to and benefit from higher levels of prosperity. Economies that consistently rank high in the competitiveness rankings are those that are able to develop, attract and retain talent, and constantly introduce new and higher value-added products and services into the market."
The report adds that "while all of the pillars described above will matter to a certain extent for all economies, it is clear that they will affect different economies in different ways: the best way for Cambodia to improve its competitiveness is not the same as the best way for France to do so" because the two countries are in different stages of development.
The WEF ranked 144 economies.
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