According to a report from the World Economic Forum (WEF) for 2016/2017 the Swiss economy is still the most competitive in the world, while Croatia improved its position from the last year’s 77th to the 74th on the list which includes 138 countries.
This year’s list shows that Croatia made improvements in 6 out of 12 areas taken into consideration by WEF experts such as macroeconomic environment, higher education, goods market efficiency, labour market efficiency, market size, and business sophistication.
The National Competitiveness Council (NVK) of Croatia expressed satisfaction with the fact that Croatia rose from the 77th to the 74th place on the World Economy Forum (WEF) Global Competitiveness Ranking, but warned that this was just a modest improvement insufficient to successfully attract investments that would lead to higher living standards.
In addition, Ivica Mudrinic, the chairman of the NVK emphasized that positive effects could be felt only if Croatia improved its position to the 50th or the 40th place on the WEF list.
On the other hand, Croatia’s rankings have remained the same in terms of institutions and infrastructure but worsened in health and primary education, development of financial markets, technological readiness, and innovations.
A survey that was carried out among business people shows that the greatest difficulties in doing business in Croatia are inefficient administration, tax rates and regulations, as well as political instability and corruption.