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WEF GLOBAL COMPETITIVENESS INDEX SEES SOUTH AFRICA DROP 14 POSITIONS

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WEF GLOBAL COMPETITIVENESS INDEX SEES SOUTH AFRICA DROP 14 POSITIONS
The recently released World Economic Forum Global Competitiveness Report for 2017 and 2018 shows that South Africa (at 61 of 138 countries) remains one of the most competitive countries in sub-Saharan Africa and among the region’s most innovative. Overall on the Global Competiveness Index though, South Africa dropped 14 positions this year, due to its nearly standstill economy, and a GDP growth forecast at just 1% in 2017 and 1.2% in 2018. The report also cites the 5 most problematic factors for currently doing business in South Africa are (1) Corruption; (2) Crime and Theft; (3) Government Instability; (4) Tax Rates and (5) Inefficient Government Bureaucracy.

We have provided a table below that outlines the 12 index pillars calculated in the report and where South Africa ranks out of all 138 countries studied:

Indices calculated in WEF Global Competiveness Report Rank out of 138 countries
·         1st Pillar:    Institutions  76 / 138
·         2nd Pillar:   Infrastructure  61 / 138
·         3rd Pillar:    Macro-economic Environment  82 / 138
·         4th Pillar:    Health & primary Education 121 / 138
·         5th Pillar:    Higher Education & Training  85 / 138
·         6th Pillar:    Good Market Efficiency  54 / 138
·         7th Pillar:    Labour Market Efficiency  93 / 138
·         8th Pillar:    Financial Market Development  44  / 138
·         9th Pillar:    Technological Readiness  54 / 138
·         10th Pillar:  Market Size  30 / 138
·         11th Pillar:  Business Sophistication  37 / 138
·         12th Pillar:  Innovation  39 / 138


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for more on, and to download, the WEF Global Competitiveness Report for 2017 / 18

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