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Global Competitiveness Index

VU International News and Reviews No. 99 October 9 2017

October 2017

The World Economic Forum has published its Global Competitiveness Report 2017-2018. The Global Competitiveness Index scores 137 countries in a 1-7 score. Of the eight countries with the high scores between 5.50 and the top score of 5.86, the Netherlands (4th with 5.66), Germany (5th with 5.65), Sweden (7th with 5.52), and the UK (8th with 5.51) is home to five of the nine Aurora universities. The other four (Norway, Belgium, France and Iceland) are solidly in the top 20%, with only Iceland just below the 5.00 score (28th with 4.99).

The Global Competitiveness Report identifies three main challenges worldwide: financial vulnerabilities, spreading benefits in emerging economies and matching labour market flexibility with worker protection. All three are related to the overarching problem to make globalisation more inclusive.

The indicators for the Global Competitiveness score are institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labour market efficiency, financial market development, technological readiness, market size, business sophistication, and innovation.

According to the report, the drop by one place of the United Kingdom (from 7th to 8th) does not yet reflect the outcome of Brexit negotiations. However, that is likely to undermine the country’s competitiveness further.

The Economy Profiles section of the Global Competitiveness Report 2017–2018 presents a two-page profile for each of the 137 economies covered.

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