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What are the most competitive nations? - Answers

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What are the most competitive nations?

World Map depicting global competitiveness index

According to estimations by the World Economic Forum, the global economy shows recovery in 2017-2018, yet the policymakers and business leaders are doubtful about the prospects of economic growth in the future. There is an increased uncertainty among individuals regarding technology and geopolitical forces which are reshaping today’s economic order. Also, many countries have witnessed growth because of increased inequality and technological challenge. Globalization has also impacted the world in complex ways.

The Global Competitiveness Index assesses the ability of countries to achieve high levels of prosperity for their people. Areas of improvement in the economy can be identified by the leaders with detailed study of the released report. The rankings are based on aggregating indicators across the report’s 12 pillars which cover both social and business areas, these are: level of institutions, appropriate infrastructure, a stable macroeconomic framework, good health and primary education, higher education and training, efficient goods markets, efficient labor markets, developed financial markets, the ability to harness the benefits of existing technologies, domestic and international market size, sophisticated production processes, and innovation.

According to Global Competitiveness Index for 2017-18, Switzerland is the most competitive country in the world and it has remained at the top for nine years. The European nation attained a score of 5.86. Due to efficient work force, innovation, and high-quality business landscape, Switzerland has remained quite competitive. The people of the country attain high standards of living.

Amid the developing BRICS nation, China attained the highest score, and that is 5, whereas Brazil scored 4.14.

Meanwhile, Yemen was ranked as the least competitive nation, having a score of 2.87.
The report analyzed by the results that there are few challenges which are still faced by the economy, that is, financial sector remains vulnerable and labor market needs to be more flexible, along with protection of workers’ rights.

The table below mentions the rankings and scores of nations in Global Competitiveness Index 2017:

Rank Economy Score
1 Switzerland 5.86
2 United States 5.85
3 Singapore 5.71
4 Netherlands 5.66
5 Germany 5.65
6 Hong Kong SAR 5.53
7 Sweden 5.52
8 United Kingdom 5.51
9 Japan 5.49
10 Finland 5.49
11 Norway 5.4
12 Denmark 5.39
13 New Zealand 5.37
14 Canada 5.35
15 Taiwan, China 5.33
16 Israel 5.31
17 United Arab Emirates 5.3
18 Austria 5.25
19 Luxembourg 5.23
20 Belgium 5.23
21 Australia 5.19
22 France 5.18
23 Malaysia 5.17
24 Ireland 5.16
25 Qatar 5.11
26 Republic of Korea 5.07
27 China 5
28 Iceland 4.99
29 Estonia 4.85
30 Saudi Arabia 4.83
31 Czech Republic 4.77
32 Thailand 4.72
33 Chile 4.71
34 Spain 4.7
35 Azerbaijan 4.69
36 Indonesia 4.68
37 Malta 4.65
38 Russia 4.64
39 Poland 4.59
40 India 4.59
41 Lithuania 4.58
42 Portugal 4.57
43 Italy 4.54
44 Bahrain 4.54
45 Mauritius 4.52
46 Brunei 4.52
47 Costa Rica 4.5
48 Slovenia 4.48
49 Bulgaria 4.46
50 Panama 4.44
51 Mexico 4.44
52 Kuwait 4.43
53 Turkey 4.42
54 Latvia 4.4
55 Vietnam 4.36
56 Philippines 4.35
57 Kazakhstan 4.35
58 Rwanda 4.35
59 Slovakia 4.33
60 Hungary 4.33
61 South Africa 4.32
62 Oman 4.31
63 Botswana 4.3
64 Cyprus 4.3
65 Jordan 4.3
66 Colombia 4.29
67 Georgia 4.28
68 Romania 4.28
69 Iran 4.27
70 Jamaica 4.25
71 Morocco 4.24
72 Peru 4.22
73 Armenia 4.19
74 Croatia 4.19
75 Albania 4.18
76 Uruguay 4.15
77 Montenegro 4.15
78 Serbia 4.14
79 Tajikistan 4.14
80 Brazil 4.14
81 Ukraine 4.11
82 Bhutan 4.1
83 Trinidad and Tobago 4.09
84 Guatemala 4.08
85 Sri Lanka 4.08
86 Algeria 4.07
87 Greece 4.02
88 Nepal 4.02
89 Moldova 3.99
90 Namibia 3.99
91 Kenya 3.98
92 Argentina 3.95
93 Nicaragua 3.95
94 Cambodia 3.93
95 Tunisia 3.93
96 Honduras 3.92
97 Ecuador 3.91
98 Laos 3.91
99 Bangladesh 3.91
100 Egypt 3.9
101 Mongolia 3.9
102 Kyrgyzstan 3.9
103 Bosnia and Herzegovina 3.87
104 Dominican Republic 3.87
105 Lebanon 3.84
106 Senegal 3.81
107 Seychelles 3.8
108 Ethiopia 3.78
109 El Salvador 3.77
110 Cape Verde 3.76
111 Ghana 3.72
112 Paraguay 3.71
113 Tanzania 3.71
114 Uganda 3.7
115 Pakistan 3.67
116 Cameroon 3.65
117 Gambia 3.61
118 Zambia 3.52
119 Guinea 3.47
120 Benin 3.47
121 Madagascar 3.4
122 eSwatini 3.35
123 Mali 3.33
124 Zimbabwe 3.32
125 Nigeria 3.3
126 Democratic Republic of the Congo 3.27
127 Venezuela 3.23
128 Haiti 3.22
129 Burundi 3.21
130 Sierra Leone 3.2
131 Lesotho 3.2
132 Malawi 3.11
133 Mauritania 3.09
134 Liberia 3.08
135 Chad 2.99
136 Mozambique 2.89
137 Yemen 2.87

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