Global Competitiveness index report: Turkey

Global Competitiveness index report: Turkey

Global competitiveness index – is a yearly report published by the World Economic Forum.

The report assesses the ability of countries to provide high levels of prosperity to their citizens. This in turn depends on how productively a country uses available resources. Therefore, the Global Competitiveness Index measures the set of institutions, policies, and factors that set the sustainable current and medium-term levels of economic prosperity.

According to the Global Competitiveness Index 2012-2013 prepared by the World Economic Forum, Turkey moves up by 16 places this year to attain the 43rd spot  among 144 countries of the world.

The country’s economy grew by 8.4 percent in 2011 and benefits from considerable progress in a number of areas covered by the GCI. Macroeconomic stability has improved and the financial sector is assessed as more trustworthy and finance as more easily accessible for businesses. Improvements to the institutional framework and greater competition in local markets have also been registered; these will further strengthen the country’s competitive position.

Turkey’s vibrant business sector derives important efficiency gains from its large domestic market (ranked 15th), which is characterized by intense local competition (16th). Turkey also benefits from its reasonably developed infrastructure (51st), particularly roads and air transport, although ports and the electricity supply require additional upgrading. In order to further enhance its competitiveness, Turkey must focus on building up its human resources base through better primary education and healthcare (63rd) and higher education and training (74th), increasing the efficiency of its labor market (124th), and reinforcing the efficiency and transparency of its public institutions (67th).

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