29/09/2005 08:34
According to the Global Competitiveness Report of the World Economic Forum, Cyprus ranks 34th in competitiveness in 2005, which is four places higher than 2004. The improvement in domestic competitiveness is partly attributable to the improvement in the state finances and the institutional improvements after the island’s accession in the EU. As for the macroeconomic environment, Cyprus ranks 33rd. In the classification of state institutions, the island surged 12 places to the 39th place.
In the sector of technology, Cyprus climbed to the 36th place from the 47th in 2004.
The increased participation of foreigners in the Cyprus’ businesses has boosted competitiveness and the island now ranks 36th (nine places higher than last year).
The Scandinavians topped the countries and managed to improve their public finances dealing with the structural problems of their pension funds. Once again, they captured three of the top four places: Finland ranks 1st, Sweden 3rd and Denmark 4th. The United States rank 2nd mostly due to its lead in technology.
The competitiveness index measures the productivity of an economy and its prospects for growth.
In the sector of technology, Cyprus climbed to the 36th place from the 47th in 2004.
The increased participation of foreigners in the Cyprus’ businesses has boosted competitiveness and the island now ranks 36th (nine places higher than last year).
The Scandinavians topped the countries and managed to improve their public finances dealing with the structural problems of their pension funds. Once again, they captured three of the top four places: Finland ranks 1st, Sweden 3rd and Denmark 4th. The United States rank 2nd mostly due to its lead in technology.
The competitiveness index measures the productivity of an economy and its prospects for growth.
Related Articles
