Spanish economic competitiveness drops 9 places

February 15, 2011 at 12:53 pm Leave a comment

The competitiveness of the Spanish economy has lost nine places in 2010 in the Global Competitiveness Report prepared by the World Economic Forum in Davos. Spain dropped 9 places now sitting at no. 42 behind countries, such as Poland or Cyprus.

The study analyzes twelve variables to determine the competitiveness of an economy, such as macroeconomic and institutional environment, infrastructure, education, market efficiency and innovation, among others.

It compares the situations from 139 countries and it features Switzerland in the top position, followed by Sweden and Singapore. Germany progresses and moves into fifth place in the rankings from seventh last year, followed by Japan (which moves from eighth to sixth), Finland (from sixth to seventh), the Netherlands ( from tenth to eighth), Denmark (from fifth to eighth place shares with the Netherlands) and Canada (from ninth to tenth).

Global competitiveness report 2011

In the case of Spain, the report attributes the decline in its competitiveness to the negative assessment of the situation in financial markets, but especially to the decline in the labor market. Behind Spain are Slovenia (45), Portugal (46), Lithuania (47), Italy (48) and Malta (50). The lowest ranked country in the EU-27 is Greece, which is ranked 83.

Find the report here.

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Entry filed under: Economy, News. Tags: , , , , , .

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