Greek economic competitiveness declined in 2018. According to the World Economic Forum’s annual report, Greece ranks in 57th place in competitiveness among 140 countries, below Bulgaria (51st) and Romania (52nd).
The Global Competitiveness Report 2018-2019 uses the Global Competitiveness Index 4.0 that measures national competitiveness—defined as the set of institutions, policies and factors that determine the level of productivity in 140 countries.
Greece’s score was 62.1 out of 100, taking 57th place, down from last year’s ranking of 53rd place, moving further away from strong economies.
For 2018-2019, the United States ranks at the top of the list of the most competitive economies in the world with a score of 85.6. Singapore ranks second with 83.5, while Germany is in third place with a score of 82.8.
Switzerland, with a score of 82.6, ranks fourth among the most competitive economies in the world, with Japan ranking fifth (82.5) worldwide. The list of the ten most dynamic economies in the world is rounded out by the Netherlands in sixth place (82.4), Hong Kong in seventh (82.3), Great Britain in eighth place (82), while Sweden (81.7) and Denmark (80.6) complete the top 10.
The index is determined based on 12 criteria for each country: institutions, infrastructure, information and communication Technology (ICT) adoption, macroeconomic stability, health, skills, product market, labor market, financial system, market size, business dynamism, and innovation capability.