The World Economic Forum published the Global Competitiveness Index Report 2018, according to which among the 140 countries of the world, Georgia is in 66th place. Last year Georgia was in 67th place out of 135 countries. However, last year Georgia’s position fell by 8 slots, therefore, this years’ indicator is still behind compared to 2016 -2017.
Below is how Georgia’s position and scores changed within the main criteria:
Infrastructure – Georgia scored 66.7 out of 100, which is a lower score compared to the previous year and as a result came in 72nd place in the world instead of 69th.
Macroeconomic stability – out of 100 Georgia scored 74.5 and as a result came in 72nd place, instead of 48th. This criterion combines the inflation indicators and sustainability of fiscal policy. Based on these indicators, Georgia came in 85th place.
Skills – Georgia received a score of 68 and came in 45th place in the world, which is an improved score compared to the previous year. This criterion combines workforce skills, methods for professional education, training of the workforce, critical thinking etc.
Labour Market – with a score of 65.6, Georgia came in 31st place in the world, which compared to the previous year is an improved indicator.
Finance System –Georgia received a score of 54 and came in 77th place, which, once more is a worse score compared to the previous year. Last year the country came in 63rd place.
Market Size – 40.9 score, Georgia is 102nd in the world.
Business Dynamism – Georgia received a score of 62 and came in 53rd place in the world, marking an improvement to the previous year. Under this category, Georgia’s best score was for the time required to start a business in the country – coming in fourth place out of the surveyed 140 countries.
Innovations – with a 32.7 score, Georgia came in 85th place.