Country Moves up 4 positions in global competitiveness index
Posted 10-11-2008 at 09:29 AM by larryhans
Costa Rica advanced 4 positions in the Global Competitiveness Index (IGC by its initials in Spanish), from number 63 to 59, in the measurement taken annually by the World Economic Forum.
Costa Rica is behind Chile, number 28, Puerto Rico, number 41 and Panama, number 58, in Latin America.
Among the 134 countries included in the analysis, the rest of the Central American nations were behind Costa Rica. El Salvador is number 67, Honduras is number 83, Guatemala is number 87 and Nicaragua is number 111.
The United States remained in first place followed by Switzerland at number 2, Denmark number 3, Sweden number 4, Singapore number 5, Finland number 6, Germany number 7 and Holland number 8.
This indicator is constructed based on figures offered by 110 other indicators which are official figures from international sources of information and opinion surveys taken from 12,000 business leaders from all the countries.
Among the strengths that were cited in Costa Rica are the institutions, primary and higher education, flexible labor markets, high sophistication of the productive apparatus and innovative capacity.
Other things that were seen as advantages were macroeconomic stability, judicial independence and efficiency of the legal framework.
The index also indicates the challenges which Costa Rica must face, among which the high crime and violence level were cited. In this regard, Costa Rica was number 108 of the 134 in the study.
Health and education indicators were rated as positive, but problems such as poor infrastructure threaten our national competitiveness.
Inflation remains a strong challenge for the country to improve its competitiveness globally.
The Government should also think about developing state electronic purchasing mechanisms and create a single window to formalize and launch new businesses. This is what has been called Digital Government, which is overdue and necessary to streamline procedures.
In November 2007, Costa Rica ranked second in openness in the Latin American index of globalization.
Costa Rica is behind Chile, number 28, Puerto Rico, number 41 and Panama, number 58, in Latin America.
Among the 134 countries included in the analysis, the rest of the Central American nations were behind Costa Rica. El Salvador is number 67, Honduras is number 83, Guatemala is number 87 and Nicaragua is number 111.
The United States remained in first place followed by Switzerland at number 2, Denmark number 3, Sweden number 4, Singapore number 5, Finland number 6, Germany number 7 and Holland number 8.
This indicator is constructed based on figures offered by 110 other indicators which are official figures from international sources of information and opinion surveys taken from 12,000 business leaders from all the countries.
Among the strengths that were cited in Costa Rica are the institutions, primary and higher education, flexible labor markets, high sophistication of the productive apparatus and innovative capacity.
Other things that were seen as advantages were macroeconomic stability, judicial independence and efficiency of the legal framework.
The index also indicates the challenges which Costa Rica must face, among which the high crime and violence level were cited. In this regard, Costa Rica was number 108 of the 134 in the study.
Health and education indicators were rated as positive, but problems such as poor infrastructure threaten our national competitiveness.
Inflation remains a strong challenge for the country to improve its competitiveness globally.
The Government should also think about developing state electronic purchasing mechanisms and create a single window to formalize and launch new businesses. This is what has been called Digital Government, which is overdue and necessary to streamline procedures.
In November 2007, Costa Rica ranked second in openness in the Latin American index of globalization.
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