Iran's Ranking Drops in WEF's Global Competitiveness Index
The World Economic Forum’s “Global Competitiveness Report 2019” shows Iran’s ranking has dropped by 10 places with a score of 53 out of 100 compared to last year's report.
The country now ranks 99th out of a total of 141 countries surveyed. This year’s Global Competitiveness Report is the latest edition of the series launched in 1979, which provides an annual assessment of the drivers of productivity and long-term economic growth.
With a score of 84.8, Singapore was the world’s most competitive economy in 2019, overtaking the United States, which falls to second place, together with Hong Kong (third), Netherlands (fourth) and Switzerland (fifth) rounding up the top five.
Building on four decades of experience in benchmarking competitiveness, GCI maps the competitiveness landscape of 141 economies through 103 indicators organized into 12 themes. Each indicator, using a scale of 0 to 100, shows how close an economy is to the ideal state or “frontier” of competitiveness.
The average GCI score across the 141 economies studied is 60.7.
The 12 themes, which cover broad socioeconomic elements, are: institutions, infrastructure, ICT adoption, macroeconomic stability, health, skills, product market, labor market, the financial system, market size, business dynamism and innovation capability.
source: Financial Tribune
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