The World Economic Forum, or WEF, has issued the Global Competitiveness Report 2016–2017, which assesses the competitiveness landscape of 138 economies, in which Peru climbed two places to 67th from the previous report.
Switzerland (1st) leads the global rankings for the eighth consecutive year, and along with Singapore (2nd) and the United States (3rd) remain the three world’s most competitive economies.
The Netherlands improved its score by rising by one spot to 4th and Germany dropped one place to 5th.
Sweden (6th) and the United Kingdom (7th) moved up three spots, with the latter’s data collected before the Brexit vote. Japan (8th), Hong Kong (9th) and Finland (10th) are also within the top 10 economies.
Peru has climbed two spots to 67th compared to the previous report.
“We remain the third most competitive economy in South America after Chile and Colombia, and we hold the sixth place in Latin America and the Caribbean,” said the Industrial Development Center at the National Industrial Society (SNI).
Eight countries improved in the region. Highlights include Panama (up 8 spots to 42nd) Mexico (+6, 51st), Jamaica (+11, 75th) and Dominican Republic (+6, 92nd); whereas the strongest declines occurred in Brazil (-6, 81st), Ecuador (-15, 91st) and El Salvador (-10, 105th).
Peru remains ahead of those economies that lagged behind it during the previous year’s edition, except for Botswana, which ranks 64th.
Six out 12 pillars have shown improvement: institutions (from 116 to 106), health and primary education (from 100 to 98), higher education and training (from 82 to 80), labor market efficiency (from 64 to 61), financial market development (from 30 to 26), technological readiness (from 92 to 88), and business sophistication (from 81 to 78).
Published since 1979, the Global Competitiveness Report, aims to serve as a neutral and objective tool for governments, the private sector, and civil society to work together on effective public-private collaboration to boost future prosperity.
(END) NDP/MDV/RMB
Published: 9/28/2016