Friday, November 3, 2017

Japan Drops One Spot Down in World Economic Forum's Global Competitiveness Index

The World Economic Forum's Global Competitiveness Index (GCI) ranks 137 countries and regions based on three stages: factor-drive, efficiency-driven, and innovation-driven. There are also 12 pillars of competitiveness, shown below, that are also considered and has their own rankings:

  1. institutions
  2. appropriate infrastructure
  3. a stable macroeconomic framework
  4. good health and primary education
  5. higher education and training
  6. efficient goods markets
  7. efficient labor markets
  8. developed financial markets
  9. the ability to harness the benefits of existing technologies
  10. and its market size, both domestic and international
  11. by producing new and different goods using the most sophisticated production processes
  12. innovation

This year, Japan has dropped its ranking from number 8 to number 9, being replaced by the United Kingdom. Though Japan has slipped in the GCI, they have moved up a couple spots in the other pillars such as: infrastructure, technological readiness, and macroeconomic environment. 

"Japan slips to No. 9 in World Economic Forum’s competitiveness index". (2017, November 3). Japan Times. Retrieved from https://www.japantimes.co.jp/news/2017/09/27/business/japan-slips-notch-ninth-wefs-competitiveness-rankings-137-economies/#.WfyMpWhSyM8
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2 comments:

  1. UnknownNovember 16, 2017 at 1:05 PM

    Is that because Japan is doing less good than before focusing on all these factors or is the UK just doing better?

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  2. Addie EytchesonNovember 21, 2017 at 5:15 AM

    It's interesting that Switzerland topped the list overall for the 9th straight year - they must be doing something right! I wouldn't have guessed that Switzerland would be at the top of that list, let alone for that long of a time period.

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