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World Economic
Forum Global
Competitiveness
report 2010 11
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Home : Business & Farming : World Economic Forum Global
Competitiveness report 2010 11
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World Economic Forum Global Competitiveness report 2010 11
By The Times of Swaziland on March 24,2011
Background
For the first time in 2010, Swaziland
participated in the World Economic
Forum Global Competitiveness report; an annual report
that has been published for more than three decades.
The FSE & CC is a Partner Institute to the World
Economic
Forums Centre for Global Competitiveness and Performance,
one of 150 in the world. As a Partner Institute, FSE &
CC
administers the Executive Opinion Survey in Swaziland, which
is used in the Global Competitiveness Report to calculate
the
countrys Global Competitiveness Index (GCI).
The Global Competitiveness Index (GCI) is a highly comprehensive
index for measuring national
competitiveness, whereby competitiveness is defined as "the set
of institutions, policies, and factors
that determine the level of productivity of a country". FSE
& CC was chosen for our capacity to
reach out to business leaders and employers, as well as our
understanding of the national business
operating environment.
The goal of the report is to provide a benchmarking tool for
business leaders and policy makers to
identify obstacles to improved competitiveness, thus stimulating
discussion on the best strategies
and policies for overcoming them.
Twelve Economic Pillars of Competitiveness
There are many determinants driving productivity and
competitiveness. The GCI is a
weighted average of these determinants, and are grouped into 12
pillars of economic
competitiveness, measuring mechanisms such as education and
training, investment in
physical capital and infrastructure, technological progress,
macroeconomic stability, good
governance, firm sophistication, and market efficiency, among
others.
Most of these ideas are not mutually exclusive, and this
open-endedness is captured within the
index. Thus, a country report includes both an aggregate index
as well as separate measures for
each pillar to provide a sense of the specific areas in which a
particular country needs to improve.
Executive Opinion Survey
The survey is a tool for capturing timely and vital information
that is not available at a global
level. The data collected provides a unique insight and
qualitative portrait of each nations
economic and business environment, as well as how it compares
with the situation in other
countries. This years sample scope was 15 000 surveys from 139
economies between January
and May 2010. Following editing, 13 607 surveys were retained,
which gives an average of 98respondents per country, including
Swaziland.
Analysis
The World Economic Outlook by the IMF projects 5.5 per cent GDP
growth in 2011 for
Sub-Saharan Africa, up from 5.0 per cent in 2010. Yet the
assessment of competitiveness for
African economies raises questions about how sustainable this
growth will be over the longer
term, particularly middle-income countries, including
Swaziland.
Swaziland is labelled the Switzerland of Africa; however the
irony of the comparison satirises this
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World Economic Forum Global Competitiveness report 2010 11
http://www.times.co.sz/news/63146
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