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Canada Rises in Competitiveness – World Economic Forum

According to the World Economic Forum’s latest Global Competitiveness Rankings, Canada has moved up to 13th place (from 15th place the previous year).

The Global Competitiveness Report’s competitiveness ranking is based on the Global Competitiveness Index (GCI), which was introduced by the World Economic Forum in 2004. Defining competitiveness as the set of institutions, policies and factors that determine the level of productivity of a country, GCI scores are calculated by drawing together country-level data covering 12 categories – the pillars of competitiveness – that collectively make up a comprehensive picture of a country’s competitiveness. The 12 pillars are: institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labour market efficiency, financial market development, technological readiness, market size, business sophistication, and innovation.

The World Economic Forum researchers indicate that “Canada improves from 15th to 13th position, mainly fueled by a lower budget deficit (based on 2014 data) and a more favorable assessment of its financial market development (4th). Canada’s competitiveness is also built on highly efficient labor markets (7th), good outcomes in health and primary education (7th), and a solid institutional environment (16th), in particular for private institutions (8th).

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