This annual study is a valuable tool for shaping economic policy and guiding investment decisions. It is one of the leading monitors of the competitive condition of economies worldwide. Produced in collaboration with leading academics and a global network of 122 Partner Institutes, The Global Competitiveness Report has expanded its geographic coverage over the years and now assesses 117 economies. The report is unique in that the methodology combines publicly available data with survey data that captures the perceptions and observations of business leaders in a given country.
EXTRACT FROM THE PREFACE by Professor Klaus Schwab
The publication of this year’s Global Competitiveness Report provides an opportunity to examine some of the key economic issues confronting the international community.
The global economy is expected to grow by some 4.25 percent in 2005, nearly one percentage point less than in 2004, when the rapid expansion of global trade delivered the best growth performance for world output of the past decade. Notwithstanding a slowdown in industrial production and global trade, and the adverse impact of higher oil prices, the short-term outlook suggests solid growth, at least through the end of 2006.
The Global Competitiveness Report is a contribution to enhancing our understanding of the key ingredients of economic growth and prosperity. By highlighting the strengths and weaknesses of an economy, policymakers and business leaders are offered an important tool to assist them in the formulation of improved economic policies and institutional reforms.
Country Rankings 2005-2006
1. Finland
2. USA
3. Sweden
4. Denmark
5. Taiwan
6. Singapore
7. Iceland
8. Switzerland
EXTRACT FROM THE PREFACE of The Global Competitiveness Report 2004-2005 by Professor Klaus Schwab
This year’s Global Competitiveness Report appears at a crossroads in the evolution of the global economy, when the strength of the economic recovery has left many observers pleasantly surprised.
Industrial production has been expanding quickly, business confidence and investment growth have been buoyant, and global trade is growing at rates not seen for a decade.
Yet the markets are worried. How will the authorities manage the transition to a higher interest rate environment? Will the yawning twin deficits in the United States derail the recovery, against a background of global security concerns and the repercussions these might have for oil supplies and prices?
Country Rankings 2004-2005
1. Finland
2. USA
3. Sweden
4. Taiwan
5. Denmark
6. Norway
7. Singapore
8. Switzerland
"In many ways the Nordics have entered virtuous circles where various factors reinforce each other to make them among the most competitive economies in the world."
Augusto Lopez-Claros, Chief Economist and Director, Global Competitiveness Network. Interview: read his remarks in full
