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09.10.2019
Kazakhstan ranks 55th in the Global Competitiveness Index
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Illustrative photo: pixabay.com
Kazakhstan ranked 55th out of 141 countries in the 2019 Global Competitiveness Index report published by the World Economic Forum on Wednesday, Tengrinews.kz. reports.
Global Competitiveness Index measures the readiness of countries for the fourth industrial revolution. Among the measured indicators: the quality of institutions, state of infrastructure, penetration of IT and modern communications, macroeconomic stability, consumer market, labor market, financial system, the size of the domestic market, health, education and skills, business development dynamics, ability to innovate.
Singapore has ranked as the world’s most competitive economy, the USA ranks second, and Hong Kong ranks third. The Netherlands and Switzerland are in the top five countries.
Russia has retained its 43rd place. Azerbaijan is 58th, and Kyrgyzstan is ranked 96th. Kazakhstan has advanced four places compared to last year.
The lowest marks of experts were given to the financial system of Kazakhstan - 104th place. "Health" and "innovation potential" in the country were ranked 95th. The assessment of business dynamism was ranked 35th. The development of the local labor market was highly appreciated, placing it in the 25th place.
