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The Global Competitiveness Report 2014–2015

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The Global Competitiveness Report 2014–2015

World Economic Forum,

15 min read
10 take-aways
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What's inside?

Switzerland and Singapore again lead the world in economic competitiveness.

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Editorial Rating

7

Qualities

  • Comprehensive
  • Analytical
  • Overview

Recommendation

Each year, the World Economic Forum releases a weighty statistical report on global competitiveness that ranks the world’s economies. Just as in the previous report, Switzerland and Singapore occupy the top two places in the 2014-2015 report, with the United States third. What does all the number crunching of more than 100 factors in 144 countries and regions tell you? Well, rich nations are competitive and must do more; poor nations are not and also must do more. Despite media chatter on the relative rankings of who’s up and who’s down, the report’s comprehensive look at what it takes to compete in the global society offers numerous suggestions – some hackneyed, some insightful – that make this analysis more than just clickbait for wonks. getAbstract recommends this study to those who could use a compendium of comparative, international economic statistics and to those who absolutely must know the latest news about which countries are on top, which aren’t and why.

Summary

Economic, Political and Social Uncertainty Persist

The world economy’s recovery from the global financial crisis continues, if not apace then gradually and cautiously, especially since risks and uncertainties hover on the horizon. For example, analysts don’t yet know all the effects of the normalization of monetary policies, following unprecedented easing in the United States, the United Kingdom and Japan. Tense geopolitical situations in several parts of the world also cloud the global economic outlook, as does rising income inequality, which has the potential to create social pressures with worldwide consequences in the form of demonstrations, strikes and violence. Nonetheless, the advanced economies’ growth prospects were better in 2014 than in recent years.

The most important factors for determining a country’s competitiveness include increasing economic inclusiveness, fostering good relations between the public and private sectors, ensuring the presence of reliable institutions, developing a pool of skilled talent, and having an imbedded knack for innovation. As in the previous annual report, Switzerland and Singapore are the top two nations in the 2014-2015 Global...

About the Author

The World Economic Forum is an independent global organization that engages leaders of business, politics, academia and society to improve the state of the world.

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