The Global Competitiveness Report 2013 - 2014 provides an insight into the prosperity and productivity of world economies. In the report published on 3 September by the World Economic Forum Switzerland occupies the first place. Followed by Singapore and Finland it has the most competitive economy of the world.
Switzerland retains its 1st place position for yet another year. Quoting the GCR 2013-2014, the reasons are various. The country’s most notable strengths are related to innovation and labour market efficiency. Productivity is further enhanced by a business sector that offers excellent on the-job-training opportunities, both citizens and private companies that are proactive at adapting the latest technologies. Moreover, public institutions in Switzerland are among the most effective and transparent in the world - an independent judiciary, a strong rule of law, and a highly accountable public sector. Infrastructure developed financial markets are also important. Finally, Switzerland’s macroeconomic environment is among the most stable in the world.
EU countries remain stable
The three most successful countries – Switzerland, Singapore and Finland - occupied the same positions in the rank of 2012-2013 world economies. In general, the EU countries remain more or less stable as well. On the highest positions are Finland (3), Germany (4), Sweden (6), Netherlands (8), United Kingdom (10). Amongst the EU countries the worst position is occupied byGreece, who dropped to 91from 89 in 2012-2013`s report. According to the report, not very attractive for foreign investors seem to be Slovakia (78), Romania (76) and Croatia (75).
The reason why these countries are on the end of EU member states can be similar as explained Róbert Kičina from the Business Alliance of Slovakia to the Slovak daily SME. „The low position of Slovakia is the consequence of entrepreneurs pesimism, caused by long-lasting bussiness bariers and changes in taxe and labour legislation which came into effect this year,“ commented Kičina on the situation in Slovakia.