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Pillars Of Global Competitiveness Index (GCI) 12

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Stated Purpose of Global Competitiveness Index (GCI): The Global Competitiveness Index (GCI) attempts to quantify the impact of a number of key factors which contribute to create the conditions for competitiveness, with particular focus on the macroeconomic environment, the quality of the country’s institutions, and the state of the country’s technology and supporting infrastructure.

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Type of data used: Administrative data (publicly available data), such as enrollment rates, government debt, budget deficit, and life expectancy, which are obtained from internationally recognized agencies, notably the United Nations Educational, Scientific and Cultural Organization (UNESCO), the IMF, and the World Health Organization (WHO). Furthermore, it uses data from the World Economic Forum’s annual Executive Opinion Survey (Survey)

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Institutions: Concepts related to protection of property rights, efficiency and transparency of public administration, independence of the judiciary, physical security, business ethics and corporate governance. #1

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Infrastructure: Quality and availability of transport, electricity and communication infrastructures Transport infrastructure Electricity & telephony infrastructure #2

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Macroeconomic environment: Fiscal and monetary indicators, savings rate and sovereign debt rating #3

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Health & primary education: State of public health, quality and quantity of basic education. Health Primary education #4

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Higher education & training: Quality and quantity of higher education, and quality and availability of on-the-job training Quantity of education Quality of education On-the-job training #5

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Goods market efficiency: Factors that drive the intensity of domestic and foreign competition, and demand conditions Competition Quality of demand conditions #6

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Labour market efficiency: Labour market efficiency and flexibility, meritocracy and gender parity in the workplace Flexibility Efficient use of talent #7

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Financial market development: Efficiency, stability and trustworthiness of the financial and banking system Efficiency Trustworthiness and confidence #8

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Technological readiness: Adoption of the technologies by individuals and businesses. Technological adoption ICT use #9

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Market size: Size of domestic and export markets Domestic market size Foreign market size #10

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Business sophistication: Efficiency and sophistication of business processes in the country #11

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Innovation: Capacity for, and commitment to technological innovation #12

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