IMD World Competitiveness Booklet 2020

Southern Asia and the Pacific experienced a decline from 26 th to 28 th position, approximately, while Western Asia and Africa remain about the same at 34 th place, much lower than the highest place or 32 nd as was the case in 2016. improving competitiveness trend that it had been enjoying since 2017 was reversed when it dropped from 44 th to 42 nd place last year, only to return to 44 th position in 2020. Eastern Europe’s

A similar pattern can be observed in the Ex-CIS and Central Asia sub- region. In 2016 it occupied the 50 th position, improving to 46 th in 2017 but then declining to 48 th spot last year. In 2020, it slipped further down to 51 st place. Finally, South America is the second sub-region to have achieved an increase in the average ranking this year. In 2016, it was in 52 nd position but it dropped to about 56 th last year, only to improve and shuffle back up to a 54 th average ranking this year.

Sub-regional competitiveness trends: Sub factor level

Table 1 provides the average ranking positions at the sub-factor level for each sub-region. It also presents a graphical depiction of the strengths and weaknesses of each sub-region, organized by competitiveness factors by denoting the highest positions in darker green and, conversely, the lowest positions in lighter green. The highest rank in the economic performance factor is attained by North America, followed by Eastern Asia and Western Europe. The lowest ranks are captured by Ex-CIS and Central Asia and South America.

Within economic performance, North America and Eastern Asia dominate in the areas of international investment and employment while the latter also performs well in domestic economy. International trade is the sub-factor that North America can improve upon while the same is true for the high level of prices for Eastern Asia. Eastern Europe holds high average rankings in both international trade as well as prices while the same is true for Western Asia and Africa. While the general cost of living is low in Ex-CIS and Central Asia, the countries of the region can improve their rankings in all other sub-factors.

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IMD WORLD COMPETITIVENESS BOOKLET 2020