Malta Ranks Higher in World Economic Forum’s Global Competitiveness Report 2018
The new Global Competitiveness Report for 2018 has been published, and Malta managed to climb up a place from 37th to 36th place over the past year from a possible 140
Briefly, the report assesses each country on 12 main pillars classified under 4 components – Enabling Environment; Human Capital; Markets; and Innovation Ecosystem – expressing the extent and complexity of the drivers of productivity and the competitiveness ecosystem. Malta excelled in all 4 components, ranking 33rd, 27th, 51st, and 42nd respectively.
These rankings are the result of obtaining 1st and best possible position in Macroeconomic Stability, 16th in Health, 24th in ICT Adoption together with Labour Market, and 29th in Financial System, amongst others.
It is worth mentioning that the Forum transitioned to a new methodology, with 60% of the indicators used in the new index being “brand new, as we increasingly believe factors such as workforce diversity, labour rights, e-government and disruptive businesses are driving competitiveness.” Notwithstanding this transition, Malta not only kept its position, but also managed to improve its overall score.
All this bodes very well in a global economic environment and places Malta in a very attractive economic position.
Full Economic Report: https://bit.ly/2pZHECw