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In the period from 2017 to 2018, Croatia was placed as the 74th among 137 world economies In the period from 2017 to 2018, Croatia was placed as the 74th among 137 world economies

Work still required on Croatia’s global competitiveness

By  Oct 05, 2017

According to the latest ‘’Global Competitiveness Report 2017-2018’’ from the World Economic Forum (WEF), Croatia has remained in the same position from last year.

In the period from 2017 to 2018, Croatia was placed as the 74th among 137 world economies on the list of global competitiveness, as it did last year.

Rated 4,19 the country stagnates at the global level, according to a statement by the National Competitiveness Council (NVK) of Croatia, a partner of WEF in the Global Competitiveness Program.

As far as other countries in the region are concerned, Slovenia recorded the biggest progress; the country moved from the 56th to the 48th place. Slovakia changed its position from the 65th last year to the 59th this year, Bulgaria (50th to 49th), Serbia (90th to 78th), Hungary (69th to 60th), whilst Montenegro placed as the 77th on this year’s list unlike last year’s 82nd.

As stated, reasons for limited growth and competitiveness stagnation are slow implementation of reforms in key areas of education, infrastructure and innovation financing as well as inefficient administration, tax rates and regulations, political instability and corruption – crucial in improving business climate.

The Global Competitiveness Index 2017-2018 Rankings show that Switzerland remained its last year’s position as the most competitive world economy. It is followed by the United States, Singapore, the Netherlands and Germany.

The results of the report are based on a survey of businesspersons in 14,000 companies worldwide, out of which 84 of them were surveyed in Croatia earlier this year, statistical data from 2016 and 2017 and data from international organizations.

The methodology is based on an analysis of 12 competitiveness factors including institutions, infrastructure, macroeconomic environment, health and education, labour market and commodity efficiency, technological readiness, innovation, amongst others.