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Latest News / Netherlands and UK progress in World Economic Forum’s annual measure of economic competitiveness

 

The World Economic Forum’s 2016-2017 Competitiveness Report sees both the Netherlands and the UK progress up the top ten rankings, with the Netherlands moving from 5th to 4th place, and the UK moving from 10th to 7th. Switzerland, previous Shell LiveWIRE programme host Singapore, and the US remained the top three ranked countries.

The Netherlands continued to climb the rankings, after being positioned 8th in the 2013-2014 report. Its movement is attributed to the quality of its scientific research and the access private sector organisations have to that research, as well as the prevalence of successful social innovation by businesses and start-ups.

Reported global findings included that investment in innovation is now as important as infrastructure, skills and efficiency in determining economic competitiveness. It was also revealed that more openness, nurtured through policy and support, leads to more innovation.

To compare their competitiveness, each country was scored in twelve categories, including: higher education and training; labour market efficiency; technological readiness; market size; business sophistication; and, innovation.

Brunei was ranked for the first time in 58th place, out of 138 listed countries. Pakistan and South Africa also moved up the rankings, from 126th to 122nd place, and 49th to 47th respectively.

The full report can be viewed here.

 


 

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