The Global Competitiveness Report 2015–2016 is being
launched at a pivotal time for the global economy. On
the one hand, economic development is characterized
by the “new normal” of higher unemployment, lower
productivity growth, and subdued economic growth
that could still be derailed by uncertainties such as
geopolitical tensions, the future path of emerging
markets, energy prices, and currency changes.
On the other hand, other recent developments show great promise—the so-called fourth industrial revolution and new ways of consuming such as the sharing economy could lead to another wave of significant innovations that drive growth. At the same time, across countries we are witnessing economic policymaking become increasingly people-centered and embedded in overall societal goals.
Whether economies get trapped in the new normal or harvest the benefits of the latest innovations for
their societies will crucially depend on their levels of competitiveness. Policymakers, businesses, and civil society leaders must work together to ensure continued growth and more inclusive outcomes of economic development. Enhancing competitiveness requires not only well-functioning markets; other keys to success include strong institutions that ensure the ability to adapt, the availability of talent, and a high capacity to innovate. These essential ingredients will become even more important in the future because economies that are competitive are more resilient to risks and better equipped to adapt to a rapidly changing environment.
For over 35 years, the Global Competitiveness Report series has shed light on the key factors and
their interrelations that determine economic growth and a country’s level of present and future prosperity. By doing so, it aims to build a common understanding of the main strengths and weaknesses of an economy so stakeholders can work together to shape economic agendas that address challenges and enhance opportunities.
The Global Competitiveness Index has served to assess country performance since 2004, a time frame that has seen great changes in the global economic landscape and seen also an exploration of new avenues in how we think about economic growth. In order to maintain our cutting-edge value, we need to take into account the latest ideas about competitiveness.
This year’s Report provides an overview of the competitiveness performance of 140 economies and thus continues to be the most comprehensive assessment of its kind. It contains a detailed profile of each of the economies included. This Report is one of the flagship publications of the Forum’s Global
Competitiveness and Risks Team, which produces a number of related research studies aimed at supporting countries in their transformation efforts and raising awareness about the need to adopt holistic and integrated frameworks for understanding complex phenomena related to competitiveness and global risks.
References :
http://www.weforum.org/reports/global-competitiveness-report-2015-2016
Posted by:
Muhammad Basharat
Pakistan
