The World Economic Forum has released the 2019 edition of The Global Competitiveness Report series aimed at offering insight into the economic prospects of 141 countries across the world.
“Drawing on these results, the report provides leads to unlock economic growth, which remains crucial for improving living standards. In addition, in a special thematic chapter, the report explores the relationship between competitiveness, shared prosperity and environmental sustainability, showing that there is no inherent trade-off between building competitiveness, creating more equitable societies that provide opportunity for all and transitioning to environmentally sustainable systems.
“However, for a new inclusive and sustainable system, bold leadership and proactive policy-making will be needed, often in areas where economists and public policy professionals cannot provide evidence from the past. The report reviews emerging and promising ‘winwin’ policy options to achieve the three objectives of growth, inclusion and sustainability,” excerpts of its Executive Summary read.
It added: “A country’s performance on the overall GCI results as well as each of its components is reported as a ‘progress score’ on a 0-to-100 scale, where 100 represents the ‘frontier’, an ideal state where an issue ceases to be a constraint to productivity growth. Each country should aim to move closer to the frontier on each component of the index. The GCI 4.0 allows economies to monitor progress over time.”
The Global Competitive Index 4.0, an aspect of the series launched in 2018, “provides a detailed map of the factors and attributes that drive productivity, growth and human development in the era of the Fourth Industrial Revolution.”
Of the 141 economies, which account for 99% of the world’s GDP, Singapore topped the log followed by the U.S with Denmark wrapping up the Top 10 positions. In this piece, Face2Face Africa takes a look at the Top 10 African countries on the list: