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The Global Competitiveness Index 2017–2018 Rankings
Covering 137 economies, the Global Competitiveness Index 2017–2018 measures
national competitiveness—defined as the set of institutions, policies and factors that
determine the level of productivity.
Economy

Score1

Prev.2

Switzerland

5.86

United States

5.85

3

Singapore

4

Trend3

Economy

Score1

Prev.2

Economy

Score1

Prev.2

58

92

Brunei Darussalam

4.52

Costa Rica

4.50

Argentina

3.95

104

54

93

Nicaragua

3.95

48

Slovenia

103

4.48

56

94

Cambodia

3.93

4

49

89

Bulgaria

4.46

50

95

Tunisia

3.93

5.65

5

95

50

Panama

4.44

42

96

Honduras

3.92

Hong Kong SAR

5.53

88

9

51

Mexico

4.44

51

97

Ecuador

3.91

7

Sweden

91

5.52

6

52

Kuwait

4.43

38

98

Lao PDR

3.91

8

93

United Kingdom

5.51

7

53

Turkey

4.42

55

99

Bangladesh

3.91

106

1

46

3

47

5.71

2

Netherlands

5.66

5

Germany

6

1
2

Trend3

9

Japan

5.49

8

54

Latvia

4.40

49

100

Egypt

3.90

115

10

Finland

5.49

10

55

Viet am

4.36

60

101

Mongolia

3.90

102

11

Norway

5.40

11

56

Philippines

4.35

57

102

Kyrgyz Republic

3.90

111

12

Denmark

5.39

12

57

Kazakhstan

4.35

53

103

Bosnia and Herzegovina

3.87

107

13

New Zealand

5.37

13

58

Rwanda

4.35

52

104

Dominican Republic

3.87

92

14

Canada

5.35

15

59

Slovak Republic

4.33

65

105

Lebanon

3.84

101

15

Taiwan, China

5.33

14

60

Hungary

4.33

69

106

Senegal

3.81

112

16

Israel

5.31

24

61

South Africa

4.32

47

107

Seychelles

3.80

n/a

17

United Arab Emirates

5.30

16

62

Oman

4.31

66

108

Ethiopia

3.78

109

18

Austria

5.25

19

63

Botswana

4.30

64

109

El Salvador

3.77

105

19

Luxembourg

5.23

20

64

Cyprus

4.30

83

110

Cape Verde

3.76

110

20

Belgium

5.23

17

65

Jordan

4.30

63

111

Ghana

3.72

114

21

Australia

5.19

22

66

Colombia

4.29

61

112

Paraguay

3.71

117

22

France

5.18

21

67

Georgia

4.28

59

113

Tanzania

3.71

116

23

Malaysia

5.17

25

68

Romania

4.28

62

114

Uganda

3.70

113

24

Ireland

5.16

23

69

Iran, Islamic Rep.

4.27

76

115

Pakistan

3.67

122

25

Qatar

5.11

18

70

Jamaica

4.25

75

116

Cameroon

3.65

119

26

Korea, Rep.

5.07

26

71

Morocco

4.24

70

117

Gambia, The

3.61

123

27

China

5.00

28

72

Peru

4.22

67

118

Zambia

3.52

118

28

Iceland

4.99

27

73

Armenia

4.19

79

119

Guinea

3.47

n/a

29

Estonia

4.85

30

74

Croatia

4.19

74

120

Benin

3.47

124

30

Saudi Arabia

4.83

29

75

Albania

4.18

80

121

Madagascar

3.40

128

31

Czech Republic

4.77

31

76

Uruguay

4.15

73

122

Swaziland

3.35

n/a

32

Thailand

4.72

34

77

Montenegro

4.15

82

123

Mali

3.33

125

33

Chile

4.71

33

78

Serbia

4.14

90

124

Zimbabwe

3.32

126

34

Spain

4.70

32

79

Tajikistan

4.14

77

125

Nigeria

3.30

127

35

Azerbaijan

4.69

37

80

Brazil

4.14

81

126

Congo, Democratic Rep.

3.27

129

36

Indonesia

4.68

41

81

Ukraine

4.11

85

127

Venezuela

3.23

130

37

Malta

4.65

40

82

Bhutan

4.10

97

128

Haiti

3.22

n/a

38

Russian Federation

4.64

43

83

Trinidad and Tobago

4.09

94

129

Burundi

3.21

135

39

Poland

4.59

36

84

Guatemala

4.08

78

130

Sierra Leone

3.20

132

40

India

4.59

39

85

Sri Lanka

4.08

71

131

Lesotho

3.20

120

41

Lithuania

4.58

35

86

Algeria

4.07

87

132

Malawi

3.11

134

42

Portugal

4.57

46

87

Greece

4.02

86

133

Mauritania

3.09

137

43

Italy

4.54

44

88

Nepal

4.02

98

134

Liberia

3.08

131

44

Bahrain

4.54

48

89

Moldova

3.99

100

135

Chad

2.99

136

45

Mauritius

4.52

45

90

Namibia

3.99

84

136

Mozambique

2.89

133

91

Kenya

3.98

96

137

Yemen

2.87

138

East Asia and
Pacific

Eurasia

Europe and
North America

Latin America and
the Caribbean

Middle East and
North Africa

South Asia

Trend3

Sub-Saharan
Africa

Note: The Global Competitiveness Index captures the determinants of long-term growth. Recent developments are reflected only in-so-far as they have an impact on data measuring
these determinants. Results should be interpreted in this context.
1 Scale ranges from 1 to 7.
2 2016-2017 rank out of 138 economies.
3 Evolution in percentile rank since 2007 or earliest edition available.
The Global Competitiveness Report 2017–2018 | ix

Economy Profiles

Switzerland

1st

/ 137

The Global Competitiveness Index 2017-2018 edition

Key indicators, 2016

Source: International Monetary Fund; World Economic Outlook Database (April 2017)

Population millions

8.3 GDP per capita US$

GDP US$ billions

659.9

79,242.3

GDP (PPP) % world GDP

0.41

Performance overview
Index Component

Global Competitiveness Index

Rank/137

Score (1-7) Trend

1

Edition

2012-13

2013-14

2014-15

2015-16

2016-17

2017-18

5.9

Rank

1 / 144

1 / 148

1 / 144

1 / 140

1 / 138

1 / 137

Score

5.7

5.7

5.7

5.8

5.8

5.9

Subindex A: Basic requirements

1

6.4

1st pillar: Institutions

4

5.9

2nd pillar: Infrastructure

6

6.3

3rd pillar: Macroeconomic environment

3

6.6

4th pillar: Health and primary education

2

6.8

3

5.6

5th pillar: Higher education and training

5

6.1

6th pillar: Goods market efficiency

6

5.5

7th pillar: Labor market efficiency

1

5.9

8th pillar: Financial market development

8

5.3

9th pillar: Technological readiness

2

6.4

39

4.7

Subindex C: Innovation and sophistication factors

1

5.9

11th pillar: Business sophistication

1

5.9

12th pillar: Innovation

1

5.8

Subindex B: Efficiency enhancers

10th pillar: Market size

Distance from best

1st pillar:
Institutions
12th pillar:
Innovation

11th pillar:
Business
sophistication

19.0

Restrictive labor regulations

18.0

Inadequately educated workforce

13.7

Tax regulations

10.1

Insufficient capacity to innovate

9.9

Access to financing

9.7

Tax rates

6.8

Policy instability

5.6

Foreign currency regulations

3.7

Poor work ethic in national labor force

2.7

Corruption

0.6

Poor public health

0.2

Inadequate supply of infrastructure

0.2

Inflation

0.0

Government instability/coups

0.0

Crime and theft

0.0
0

4th pillar:
Health and primary
education

1

9th pillar:
Technological
readiness
8th pillar:
Financial market
development

5th pillar:
Higher education
and training

7th pillar:
Labor market
efficiency

Switzerland

Most problematic factors for doing business

2nd pillar:
Infrastructure

3rd pillar:
Macroeconomic
environment

10th pillar:
Market size

Switzerland (1st) continues to top the overall rankings, with strong
results evenly balanced across the different components of
competitiveness. Economic performance benefits from extremely
strong fundamentals including public health, primary education, and a
comparatively solid macroeconomic environment. Its economy has a
high level of flexibility, with its labor markets being ranked as the best-

Inefficient government bureaucracy

7

6th pillar:
Goods market
efficiency

Europe and North America

functioning globally. Absorptive capacity for new technologies is high,
with an overall 2nd place ranking in the tech readiness of citizens and
businesses. Switzerland further improves its scores for business sector
sophistication and its innovation environment, thereby defending its top
global ranking on those two important pillars.

Source: World Economic Forum, Executive Opinion Survey 2017

5

10

15

20

Note: From the list of factors, respondents to the World Economic Forum's Executive Opinion Survey were asked to select the five most problematic factors for doing business in their country
and to rank them between 1 (most problematic) and 5. The score corresponds to the responses weighted according to their rankings.

278 | The Global Competitiveness Report 2017–2018

Economy Profiles

Switzerland

The Global Competitiveness Index in detail
Index Component

1st pillar: Institutions
1.01 Property rights
1.02 Intellectual property protection
1.03 Diversion of public funds
1.04 Public trust in politicians
1.05 Irregular payments and bribes
1.06 Judicial independence
1.07 Favoritism in decisions of government officials
1.08 Efficiency of government spending
1.09 Burden of government regulation
1.10 Efficiency of legal framework in settling disputes
1.11 Efficiency of legal framework in challenging regulations
1.12 Transparency of government policymaking
1.13 Business costs of terrorism
1.14 Business costs of crime and violence
1.15 Organized crime
1.16 Reliability of police services
1.17 Ethical behavior of firms
1.18 Strength of auditing and reporting standards
1.19 Efficacy of corporate boards
1.20 Protection of minority shareholders’ interests
1.21 Strength of investor protection 0-10 (best)

Rank/137

Value Trend

Index Component

Rank/137

4

5.9

2
1
8
9
8
4
8
9
6
3
2
3
30
13
12
2
4
7
7
13
90

6.5
6.6
6.0
5.5
6.4
6.5
5.3
5.3
4.8
5.9
5.4
6.2
5.7
5.8
6.1
6.6
6.1
6.3
6.1
5.4
5.0

6

6.3

1
3
1
56
7
30
2
34
10

6.6
6.3
6.6
4.5
6.2
1,121.5
6.9
135.6
48.4

3

6.6

20
12
74
60
1

-0.1
34.4
-0.4
45.4
95.2

2

6.8

9.01 Availability of latest technologies

n/a
n/a
21
7
73
14
25
5
2
7

s.l.
7.0
7.4
6.8
0.4
6.6
3.4
83.2
6.2
99.6

9.02 Firm-level technology absorption

5

6.1

42
47
1
3
1
11
1
1

101.2
57.7
6.2
6.1
6.4
5.9
6.7
5.7

6th pillar: Goods market efficiency
6.01 Intensity of local competition
6.02 Extent of market dominance
6.03 Effectiveness of anti-monopoly policy
6.04 Effect of taxation on incentives to invest
6.05 Total tax rate

profits

6.06 No. of procedures to start a business
6.07 Time to start a business days
6.08 Agricultural policy costs
6.09 Prevalence of non-tariff barriers
6.10 Trade tariffs % duty
6.11 Prevalence of foreign ownership
6.12 Business impact of rules on FDI
6.13 Burden of customs procedures
6.14 Imports % GDP
6.15 Degree of customer orientation
6.16 Buyer sophistication

7th pillar: Labor market efficiency
7.01 Cooperation in labor-employer relations
7.02 Flexibility of wage determination
7.03 Hiring and firing practices
7.04 Redundancy costs weeks of salary

2nd pillar: Infrastructure
2.01 Quality of overall infrastructure
2.02 Quality of roads
2.03 Quality of railroad infrastructure
2.04 Quality of port infrastructure
2.05 Quality of air transport infrastructure
2.06 Available airline seat kilometers millions/week
2.07 Quality of electricity supply
2.08 Mobile-cellular telephone subscriptions /100 pop.
2.09 Fixed-telephone lines /100 pop.

3rd pillar: Macroeconomic environment
3.01 Government budget balance % GDP
3.02 Gross national savings % GDP
3.03 Inflation annual % change
3.04 Government debt % GDP
3.05 Country credit rating 0-100 (best)

4th pillar: Health and primary education
4.01 Malaria incidence cases/100,000 pop.
4.02 Business impact of malaria
4.03 Tuberculosis incidence cases/100,000 pop.
4.04 Business impact of tuberculosis
4.05 HIV prevalence % adult pop.
4.06 Business impact of HIV/AIDS
4.07 Infant mortality deaths/1,000 live births
4.08 Life expectancy years
4.09 Quality of primary education
4.10 Primary education enrollment rate net %

5th pillar: Higher education and training
5.01 Secondary education enrollment rate gross %
5.02 Tertiary education enrollment rate gross %
5.03 Quality of the education system
5.04 Quality of math and science education
5.05 Quality of management schools
5.06 Internet access in schools
5.07 Local availability of specialized training services
5.08 Extent of staff training

7.05 Effect of taxation on incentives to work
7.06 Pay and productivity
7.07 Reliance on professional management
7.08 Country capacity to retain talent
7.09 Country capacity to attract talent
7.10 Female participation in the labor force ratio to men

8th pillar: Financial market development
8.01 Availability of financial services
8.02 Affordability of financial services
8.03 Financing through local equity market
8.04 Ease of access to loans
8.05 Venture capital availability
8.06 Soundness of banks
8.07 Regulation of securities exchanges
8.08 Legal rights index 0-10 (best)

9th pillar: Technological readiness

9.03 FDI and technology transfer
9.04 Internet users % pop.
9.05 Fixed-broadband Internet subscriptions /100 pop.
9.06 Internet bandwidth kb/s/user
9.07 Mobile-broadband subscriptions /100 pop.

Value Trend

6

5.5

29
1
10
6
31
53
60
85
32
49
10
8
13
43
2
3

5.5
5.9
5.2
5.4
28.8
6
10.0
3.6
4.8
3.5
5.6
5.7
5.4
55.1
6.1
5.1

1

5.9

1
6
2
33
5
1
5
1
1
33

6.2
6.0
5.6
10.1
5.7
5.6
6.1
6.0
6.2
0.89

8

5.3

1
1
4
18
15
13
10
49

6.0
5.8
5.5
4.9
4.2
6.0
5.9
6

2

6.4

3
4
12
15
1
9
18

6.5
5.9
5.4
89.4
46.3
269.2
103.7

10th pillar: Market size

39

4.7

10.01 Domestic market size index

38
29
38
21

4.4
5.5
496.0
63.0

1

5.9

2
1
12
1
3
6
1
3
7

5.7
6.3
5.1
6.5
5.8
5.4
6.5
5.8
5.8

1

5.8

1
1
1
1
37
12
3

6.2
6.6
6.1
5.8
3.7
5.1
300.1

10.02 Foreign market size index
10.03 GDP (PPP) PPP $ billions
10.04 Exports % GDP

11th pillar: Business sophistication
11.01 Local supplier quantity
11.02 Local supplier quality
11.03 State of cluster development
11.04 Nature of competitive advantage
11.05 Value chain breadth
11.06 Control of international distribution
11.07 Production process sophistication
11.08 Extent of marketing
11.09 Willingness to delegate authority

12th pillar: Innovation
12.01 Capacity for innovation
12.02 Quality of scientific research institutions
12.03 Company spending on R&D
12.04 University-industry collaboration in R&D
12.05 Gov't procurement of advanced technology products
12.06 Availability of scientists and engineers
12.07 PCT patents applications/million pop.

Note: Values are on a 1-to-7 scale unless indicated otherwise. Trend lines depict evolution in values since the 2012-2013 edition (or earliest edition available). For detailed definitions,
sources, and periods, consult the interactive Economy Profiles and Rankings at http://gcr.weforum.org/

The Global Competitiveness Report 2017–2018 | 279


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