Home / Economy / Georgia Improved its Position in the Global Competitiveness Ranking

Georgia Improved its Position in the Global Competitiveness Ranking

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.