Armenia placed 85th in Global Competitiveness Index 2014-2015

Armenia placed 85th in Global Competitiveness Index 2014-2015 –

Armradio – Armenia is ranked 85th in the Global Competitiveness Index 2014-2015 released by the World Economic Forum. Switzerland is in top of the chart, followed b by Singapore, the USA, Finland and Germany. The top ten includes also Japan, Hong Kong, the Netherlands, the UK and Sweden.

Armenia’s neighbor Georgia is placed 69th, Azerbaijan is 38th, Turkey is 45th, Russia – 53rd.

The Global Competitiveness Report 2014-2015 assesses the competitiveness landscape of 144 economies, providing insight into the drivers of their productivity and prosperity. The Report series remains the most comprehensive assessment of national competitiveness worldwide.

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.