Insight Report The Global Competitiveness Report …

1 Insight ReportKlaus Schwab, World Economic ForumThe GlobalCompetitiveness Report2015 2016 2015 World Economic ForumInsight ReportThe GlobalCompetitiveness Report2015 2016 Professor Klaus SchwabWorld Economic ForumEditorProfessor Xavier Sala-i-Mart nColumbia UniversityChief Advisor of The Global Competitiveness Report 2015 World Economic ForumThe Global Competitiveness Report 2015 2016: Full Data Edition is published by the World Economic Forum within the framework of the Global Competitiveness and Risks Klaus SchwabExecutive ChairmanProfessor Xavier Sala-i-Mart nChief Advisor of The Global Competitiveness ReportRichard SamansHead of the Centre for the Global Agenda and Member of the Managing BoardJennifer BlankeChief EconomistTHE Global Competitiveness AND RISKS TEAMM argareta Drzeniek Hanouz, Head of Global Competitiveness and RisksCiara Browne, Head of PartnershipsRoberto Crotti, Practice Lead, Competitiveness ResearchAttilio Di Battista, Quantitative EconomistCaroline Galvan, Practice Lead, Competitiveness and RisksThierry Geiger, Head of Analytics and Quantitative ResearchTania Gutknecht.

2 Community LeadGa lle Marti, Project SpecialistSt phanie Verin, Community SpecialistWe thank Hope Steele for her superb editing work and Neil Weinberg for his excellent graphic design and layout. We are grateful to Emmanuelle Engeli for her invaluable research OF USE AND DISCLAIMERThe Global Competitiveness Report 2015 2016 (herein: Report ) presents information and data that were compiled and/or collected by the World Economic Forum (all information and data referred herein as Data ). Data in this Report is subject to change without terms country and nation as used in this Report do not in all cases refer to a territorial entity that is a state as understood by international law and practice. The terms cover well-defined, geographically self-contained economic areas that may not be states but for which statistical data are maintained on a separate and independent the World Economic Forum takes every reasonable step to ensure that the Data thus compiled and/or collected is accurately reflected in this Report , the World Economic Forum, its agents, officers, and employees: (i) provide the Data as is, as available and without warranty of any kind, either express or implied, including, without limitation, warranties of merchantability, fitness for a particular purpose and non-infringement.

3 (ii) make no representations, express or implied, as to the accuracy of the Data contained in this Report or its suitability for any particular purpose; (iii) accept no liability for any use of the said Data or reliance placed on it, in particular, for any interpretation, decisions, or actions based on the Data in this parties may have ownership interests in some of the Data contained in this Report . The World Economic Forum in no way represents or warrants that it owns or controls all rights in all Data, and the World Economic Forum will not be liable to users for any claims brought against users by third parties in connection with their use of any World Economic Forum, its agents, officers, and employees do not endorse or in any respect warrant any third-party products or services by virtue of any Data, material, or content referred to or included in this shall not infringe upon the integrity of the Data and in particular shall refrain from any act of alteration of the Data that intentionally affects its nature or accuracy.

4 If the Data is materially transformed by the user, this must be stated explicitly along with the required source Data compiled by parties other than the World Economic Forum, as specified in the Technical Notes and Sources section of this Report , users must refer to these parties terms of use, in particular concerning the attribution, distribution, and reproduction of the Data for which the World Economic Forum is the source (herein World Economic Forum ), as specified in the Technical Notes and Sources section of this Report , is distributed or reproduced, it must appear accurately and be attributed to the World Economic Forum. This source attribution requirement is attached to any use of Data, whether obtained directly from the World Economic Forum or from a who make World Economic Forum Data available to other users through any type of distribution or download environment agree to make reasonable efforts to communicate and promote compliance by their end users with these who intend to sell World Economic Forum Data as part of a database or as a standalone product must first obtain the permission from the World Economic Forum Economic ForumGenevaCopyright 2015by the World Economic ForumISBN-13: 978-92-95044-99-9 ISBN-10.

5 92-95044-99-1 This book is printed on paper suitable for recycling and made from fully managed and sustained forest and bound in Report and an interactive data platform are available at 2015 World Economic ForumThe Global Competitiveness Report 2015 2016 | iii Partner Institutes vPreface xiiiby Richard SamansThe Global Competitiveness Index xv 2015 2016 RankingsPart 1: Measuring Competitiveness Reaching Beyond the New Normal: 3 Findings from the Global Competitiveness Index 2015 2016by Xavier Sala-i-Mart n, Roberto Crotti, Attilio Di Battista, Margareta Drzeniek Hanouz, Caroline Galvan, Thierry Geiger, and Ga lle Drivers of Long-Run Prosperity: 43 Laying the Foundations for an Updated Global Competitiveness Indexby Xavier Sala-i-Mart n, Roberto Crotti, Attilio Di Battista, Margareta Drzeniek Hanouz, Caroline Galvan, Thierry Geiger, and Ga lle The Executive Opinion Survey: 75 The Voice of the Business Communityby Ciara Browne, Attilio Di Battista, Thierry Geiger, and Tania GutknechtPart 2: Country/Economy Profiles 87 How to Read the Country/Economy Profiles.

6 89 Index of Countries/Economies ..91 Country/Economy Profiles ..92 Technical Notes and Sources 373 About the Authors 383 Contents 2015 World Economic Forum 2015 World Economic ForumThe Global Competitiveness Report 2015 2016 | vThe World Economic Forum s Global Competitiveness and Risks Team is pleased to acknowledge and thank the following organizations as its valued Partner Institutes, without which the realization of The Global Competitiveness Report 2015 2016 would not have been feasible:AlbaniaInstitute for Contemporary Studies (ISB)Helton Cevi, ResearcherArtan Hoxha, PresidentElira Jorgoni, Researcher DirectorAlgeriaCentre de Recherche en Economie Appliqu e pour le D veloppement (CREAD)Mohamed Yassine Ferfera, DirectorKhaled Menna, Research FellowArgentinaIAE Universidad AustralIgnacio E.

7 Carballo, Research AnalystEduardo Fracchia, Director of Academic Department of EconomicsArmeniaEconomy and Values Research CenterManuk Hergnyan, ChairmanSevak Hovhannisyan, Board Member and Senior AssociateTamara Karapetyan, Research AssociateAustraliaAustralian Industry GroupColleen Dowling, Senior Research CoordinatorJulie Toth, Chief EconomistInnes Willox, Chief ExecutiveAustriaAustrian Institute of Economic Research (WIFO)Karl Aiginger, DirectorGerhard Schwarz, Coordinator, Survey DepartmentAzerbaijanAzerbaijan Marketing SocietyFuad Aliyev, Deputy ChairmanAshraf Hajiyev, ConsultantBahrainBahrain Economic Development BoardEman Al Asfoor, Junior Officer, Strategy and Market IntelligenceKhalid Al Rumaihi, Chief ExecutiveNada Azmi, Manager, Strategy and Market IntelligenceBangladeshCentre for Policy Dialogue (CPD)

8 Khondaker Golam Moazzem, Additional Research DirectorMeherun Nesa, Research AssociateMustafizur Rahman, Executive DirectorBelgiumVlerick Business SchoolWim Moesen, ProfessorCarine Peeters, Professor Leo Sleuwaegen, Professor, Competence Centre Entrepreneurship, Governance and StrategyBeninInstitut de Recherche Empirique en Economie Politique (IREEP)Richard Houessou, Research AssociateRomaric Samson, Research AssistantL onard Wantchekon, DirectorBhutanBhutan Chamber of Commerce & Industry (BCCI)Tshering Lhaden, NTM Desk OfficerPhub Tshering, Secretary GeneralKesang Wangdi, Deputy Secretary GeneralBosnia and HerzegovinaMIT Center, School of Economics and Business in Sarajevo, University of SarajevoZlatko Lagumdzija, ProfessorZeljko Sain, Executive DirectorJasmina Selimovic, Assistant DirectorBotswanaBotswana National Productivity CentreLetsogile Batsetswe, Research Consultant and StatisticianBaeti Molake, Executive DirectorPhumzile Thobokwe, Manager, Information and Research Services DepartmentBrazilFunda o Dom Cabral, Innovation CenterCarlos Arruda, Dean for Business Partnership, Professor of Innovation and CompetitivenessFernanda Bed , Research AssistantAna Burcharth.

9 Associate Professor of Innovation and CompetitivenessBulgariaCenter for Economic DevelopmentAdriana Daganova, Expert, International Programmes and ProjectsAnelia Damianova, Senior ExpertBurundiUniversity Research Centre for Economic and Social Development (CURDES), Faculty of Economics and Management, University of BurundiDieudonn Gahungu, DirectorL onidas Ndayizeye, Dean, Faculty of Economics and Management (FSEG)Gilbert Niyongabo, Head of Department, Faculty of Economics and Management (FSEG)Partner Institutes 2015 World Economic Forumvi | The Global Competitiveness Report 2015 2016 Partner InstitutesCambodiaNuppun Institute for Economic Research (NUPPUN)Chakriya Heng, Administrative AssistantPisey Khin, DirectorChanthan Tha, Senior Research AssistantCameroonComit de Comp titivit (SELPI)Lucien Sanzouango, Permanent SecretaryGuy Yakana, Expert JuniorSamuel Znoumsi, Expert SeniorCanadaThe Conference Board of CanadaMichael R.

10 Bloom, Vice PresidentJessica Edge, Senior Research AssociateDouglas Watt, DirectorCape VerdeINOVE RESEARCH Investiga o e DesenvolvimentoJ lio Delgado, Partner and Senior ResearcherJer nimo Freire, Project ManagerJos Mendes, Chief Executive OfficerChadGroupe de Recherches Alternatives et de Monitoring du Projet P trole-Tchad-Cameroun (GRAMP-TC)Antoine Doudjidingao, ResearcherGilbert Maoundonodji, DirectorCeline N nodji Mbaipeur, Programme OfficerChileSchool of Government, Universidad Adolfo Ib ezIgnacio Briones, DeanJulio Guzman, Assistant ProfessorPamela Saavedra, AssistantChinaInstitute of Economic System and ManagementChen Wei, Division Director and ProfessorLi Xiaolin, Research FellowLi Zhenjing, Deputy Director and ProfessorChina Center for Economic Statistics Research, Tianjin University of Finance and EconomicsBojuan Zhao, ProfessorLu Dong, ProfessorJian Wang, Associate ProfessorHongye Xiao, ProfessorHuazhang Zheng, Associate ProfessorColombiaNational Planning DepartmentRafael Puyana, Director of Enterprise DevelopmentSara Patricia Rivera.