ČR drops to 39th place in WEF global competitiveness ranking

Geneva/Bratislava, Sept 5 (CTK) - The Czech Republic this year dropped by one notch to the 39th place in the ranking of countries' competitiveness compiled by the World Economic Forum (WEF), the WEF said in the Global Competitiveness Report released yesterday.

Switzerland for the fourth straight year topped the overall rankings of 144 countries, according to the report which CTK obtained from the Business Alliance of Slovakia (PAS), the WEF's partner organisation

Although the position of the Czech Republic worsened again, the country remained the leader among Visegrad Four countries comprising Hungary, Poland and Slovakia, apart from the Czech Republic.

Poland ranked 41st, the same as in the previous year. Hungary fell to the 60th position from the 48th position, and Slovakia dropped by two notches to the 71st place.

Singapore maintained the second position in the ranking. Finland came third, overtaking Sweden. The last positions were occupied by Haiti, Sierra Leone and Burundi.

Persisting differences in competitiveness among regions and within regions, especially in Europe, are the reason behind the turbulences seen at the moment, which poses a threat to future prosperity, WEF founder and executive chairman Klaus Schwab said.

Governments should take decisive steps when adopting long-term measures aimed to boost competitiveness, Schwab said.

Switzerland and countries in the north of Europe managed to consolidate their competitiveness after the start of the global economic crisis in 2008, the report said.

In contrast, countries in the south of Europe such as Italy, Portugal, Spain and Greece continue to tackle problems owing to low competitiveness.

Greece and Portugal are dependent on financial aid from the EU and the International Monetary Fund, and Spain has asked the EU for financial aid for its banks.

Global Competitiveness Index 2012-2013:

RANKING* COUNTRY INDEX
1. (1.) Switzerland 5.72
2. (2.) Singapore 5.67
3. (4.) Finland 5.55
4. (3.) Sweden 5.53
5. (7.) Netherlands 5.50
6. (6.) Germany 5.48
7. (5.) USA 5.47
8. (10.) Great Britain 5.45
9. (11.) Hong Kong 5.41
10. (9.) Japan 5.40
...
39. (38.) Czech Republic 4.51
41. (41.) Poland 4.46
60. (48.) Hungary 4.30
71. (69.) Slovakia 4.14

*ranking in the previous year is in parentheses

Source: Global Competitiveness Report 2012-2013, Business Alliance of Slovakia (PAS)