The Global Competitiveness Report 2016-2017

The Global Competitiveness Report released by the World Economic Forum, measures competitiveness of 138 economies according to 12 key pillars. 2016-2017 report shows that Switzerland, Singapore and the United States ranked in top three of the world’s most competitive economies. Besides the rankings, the report reaches key conclusions in terms of drivers of productivity and growth. This year’s edition highlights that monetary stimulus in countries without strong economic conditions is not enough as efforts to revitalize growth through monetary policies alone would be less effective. Secondly, to stimulate entrepreneurship and the establishment of new businesses, countries need to adopt

more comprehensive competitiveness agendas putting technology and innovation at the core of their strategies. Last but not least, reducing openness represents a major risk for a country’s future growth and prosperity. Openness to trade and foreign investments is fundamental to incentive businesses to innovate. Inclusive growth strategies shall be a top priority for countries to avoid the risk of protectionism.

For more findings, please download the report here.