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Wirtschaft

08. Oktober 2015

SA PERFORMS BETTER IN WEF COMPETITIVENESS INDEX

The index analyses the factors driving productivity and prosperity in 140 countries.

Brand South Africa has welcomed the 2015/16 results of the World Economic Forum’s (WEF) annual Global Competitiveness Index, which has seen South Africa rise seven places from 56 to 49 of 140 countries.

 “Building a country’s competitiveness is a collective endeavour involving the collaboration of government, business and civil society. Ultimately, it involves all South Africans to coalesce around this national objective,” said Brand South Africa’s Chief Executive Officer, Kingsley Makhubela.

South Africa’s biggest improvements come in the areas of: infrastructure (up eight places), health and primary education (up six places), labour market efficiency (up six places), technological readiness (up 16 places), and innovation (up five places).

South Africa has also improved in the areas of macro-economic environment (up four places), higher education and training (up three places), and business sophistication (up two places).

According to the report, South Africa has dropped in the area of institutions (down two places), goods market efficiency (down six places), financial market development (down five places) and market size (down four places).

 “The results of the 2015/16 Global Competitiveness Index show that South Africa has made significant improvements towards ensuring we are a globally competitive destination. The report resonates with our own assessment that we must work towards strengthening, among others, the education and health sectors to ensure our sustained competitiveness.

The National Development Plan outlines the steps we need to take to achieve this,” explained Makhubela. – Source: www.SAnews.gov.za

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