by Habibe ACIK
The Global Competitiveness Report 2016-2017, by World Economic Forum, provides insight into the drivers of productivity and prosperity of 138 economies world wide, with Switzerland, Singapore and the United States as the world’s most competitive economies.
While the GCI measures Competitiveness through 12 pillar systematic, inclusive of Macroeconomics, Institutions, Health and Education, Innovation, Efficiency, Business Sophistication, Technological Readiness... , it falls short in capturing Happiness of People, Ecological Footprint and Future Readiness.
While North America remains to maintain best performance among all regions over years, Switzerland and Singapore ranks first and second.
Though Infrastructure, Macroeconomics, Health and Education are foundations, top ranks go to those with high Innovation, Technological Readiness and Business Sophistication.
Turkey ranks 55 out of 138, down from 51, with an average score of 4.29. Innovation and sophistication factors constitute the weakest for the country as it is transitioning from Stage 2 Efficiency Driven Economy to Stage 3 Innovation Driven Economy.
Overall, gap between regions and countries seem stagnant to-date, yet with the scientific and technological advancements, and awareness to unsustainable income disparity levels, give us hope for a better growth globally, as followers catch up with the leaders.
While North America remains to maintain best performance among all regions over years, Switzerland and Singapore ranks first and second.
Though Infrastructure, Macroeconomics, Health and Education are foundations, top ranks go to those with high Innovation, Technological Readiness and Business Sophistication.
Turkey ranks 55 out of 138, down from 51, with an average score of 4.29. Innovation and sophistication factors constitute the weakest for the country as it is transitioning from Stage 2 Efficiency Driven Economy to Stage 3 Innovation Driven Economy.
Overall, gap between regions and countries seem stagnant to-date, yet with the scientific and technological advancements, and awareness to unsustainable income disparity levels, give us hope for a better growth globally, as followers catch up with the leaders.
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