SA slips in global competitiveness index
SA HAS slipped in the global competitiveness index ranks from 36th position last year to 44th this year, according to the World Economic Forum (WEF).
When compared with the same countries included in the index last year, SA would be at position 41. The countries included in the index this year differ to those of the previous year, as two countries that were included last year - Angola and Malawi - are excluded this year due to lack of survey data.
In addition Serbia and Montenegro are now treated as two individual countries after being treated as a single entity last year. Several other countries were also added to the list this year.
Only one other sub-Saharan African country is included in the top half of the rankings - Mauritius - ranked in 60th position. Several countries from the region are positioned at the very bottom. SA has the same competitiveness score - 4,42 - as Bahrain, ranked 43.
Several countries in the Middle East and North Africa region are in the upper half of the rankings, led by Israel (17), Kuwait (30), Qatar (31), Tunisia (32), Saudi Arabia (35) and the United Arab Emirates (37).
The US tops the overall ranking in the global competitiveness report, while Switzerland is in second position followed by Denmark, Sweden, Germany, Finland and Singapore, respectively.
Chile is the highest ranked country in Latin America, followed by Mexico and Costa Rica. China and India continue to lead the way among large developing economies.
"The United States confirms its position as the most competitive economy in the world. The efficiency of the country’s markets, the sophistication of its business community, the impressive capacity for technological innovation that exists within a first-rate system of universities and research centres, all contribute to making the United States a highly competitive economy," said Xavier Sala-i-Martin, Professor of Economics at Columbia University and Co-Editor of the Report.
"However, some weaknesses, particularly related to macroeconomic imbalances, continue to present a risk to the country’s overall competitiveness potential, and to the global economy as a whole. This danger has most recently been demonstrated by the fallout and contagion caused by the country’s sub-prime mortgage crisis and the ensuing global credit crunch," said Sala-i-Martin.
The rankings are calculated from both publicly available data and the executive opinion survey, a comprehensive annual survey conducted by the WEF together with its network of partner institutes in the countries covered by the report. This year, more than 11 000 business leaders were polled in a record 131 countries, the WEF said.
