Czech Republic ranked 29th in competitiveness report

Published: 20.10.2018 Related countries:  Indonesia Indonesia

Czech Republic keeps competitivness ranking on the 29th place, best in Central Europe. Indonesia 45th place.

The Czech Republic placed 29th with a score 71.2 of the 140 countries surveyed this year on the ranking of countries competitiveness, which is being compiled annually by the World Economic Forum (WEF). Since this year, the ranking has been compiled according to the new methodology. In the last few years, the Czech Republic was 31st. This year's competitiveness of the Czech Republic is again hampered by poor infrastructure, lack of qualified workforce, state of institutions and lagging behind in information technology. This results from a study by the World Economic Forum, which was published in Oct 18th, at the Forum of the WEF Study in Prague.

Compared to the top 15 EU countries, the Czech Republic is ranked 1st in macroeconomic stability. But lags behind in other eleven indicators like market size, business dynamis or innovation capability.
In Central Europe, the Czech Republic performs best, followed by the Poland (ranked 30th), Slovakia (41st) and Hungary (48th).

The most competitive country is USA, follow by Singapore and Germany. Germany is the best in terms of innovation. Indonesia is ranked 45th, espacially innovation, labour market and market dynamism could be improved.

Source: weforum.org