Georgia has improved its positions in the World Economic Forum’s Global Competitiveness ranking, moving from 72nd to 69th position.
Rating is based on 12 criteria, which are divided into three sections – the first is institutional development, infrastructure, macroeconomic environment, health and primary education, the second – higher education, vocational training, goods market efficiency, labor market, financial market efficiency, technological readiness, market size, and the third block includes innovation factors and the level of business.
Georgia has improved its position by 9 points in the basic criteria and has risen from 57th to 48th place. The country is ranked 79th in terms of efficiency of the economy stimulation and 118th by the level of development of innovation.
Global Competitiveness ranking 2014-2015 was conducted in 148 countries.
Ukraine (76), Moldova (82), Armenia (85) are among the post-Soviet states which are behind Georgia.
The top five leaders are Switzerland, Singapore, USA, Finland, and Germany.