The Global Competitiveness Report 2010–2011

1 In its 30th year, The Global Competitiveness Report is published against the backdrop of the deepest Global economic slowdown in generations. Policymakers find themselves Schwab struggling to manage new challenges while preparing their economies to perform well in a future characterized by high uncertainty. The Global In such a difficult economic environment, it is more important than ever for countries to put into place the fundamentals underpinning growth and development. The Global Competitiveness Report series has, for the past three decades, facilitated this process by providing detailed analysis of the productive potential of nations worldwide. The Competitiveness Report The Global Competitiveness Report 2010 2011. Report offers policymakers, business executives, and academics as well as the public at large one of the world's most respected assessments of national Competitiveness , thus providing invaluable insights into the policies, institutions, and factors that enable robust economic development and long-term prosperity.

2 Produced in collaboration with leading academics and a Global network of Partner Institutes, 2010 2011. The Global Competitiveness Report 2009 2010 offers users a unique dataset on a broad array of Competitiveness indicators for 133 economies, which together account for more than 98 percent of the world's GDP. The data used in the Report come from leading international sources as well as from the World Economic Forum's annual Executive Opinion Survey, which provides a distinctive source capturing the perceptions of several thousand business leaders on topics related to national Competitiveness . This year's edition presents the rankings of the Global Competitiveness Index (GCI), developed by Professor Xavier Sala-i-Martin and originally introduced in 2004. The GCI. is based on 12 pillars of Competitiveness , providing a comprehensive picture of the Competitiveness landscape in countries around the world at different stages of economic development.

3 The Report also contains detailed profiles highlighting competitive strengths and weaknesses for each of the 133 economies featured, as well as an extensive section of data tables displaying relative rankings for more than 100 variables. Klaus Schwab, World Economic Forum Cover design: Neil Weinberg Cover art: Getty Images;. Getty Images; iStock Photography; Getty Images ISBN-13: 978-92-95044-25-8. World Economic Forum Geneva, Switzerland 2010. Professor Klaus Schwab World Economic Forum Editor The Global Competitiveness Report 2010 2011. Professor Xavier Sala-i-Martin Columbia University Chief Advisor of the Centre for Global Competitiveness and Performance Members of the Global Competitiveness Report Advisory Board Dr Kemal Dervis Brookings Institution Vice-President and Director, Global Economy and Development Professor Ricardo Hausmann Harvard University Director, Center for International Development, John F. Kennedy School of Government Dr Felipe Larra n Bascu n Minister of Finance of Chile Dr Mari Elka Pangestu Minister of Trade of Indonesia The Global Competitiveness Report 2010-2011 2010 World Economic Forum The Global Competitiveness Report World Economic Forum 2010 2011 is published by the World Geneva Economic Forum within the framework of the Centre for Global Competitiveness and Copyright 2010.

4 Performance by the World Economic Forum All rights reserved. No part of this publication Professor Klaus Schwab may be reproduced, stored in a retrieval Executive Chairman system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, Professor Xavier Sala-i-Martin or otherwise without the prior permission of Chief Advisor of the Centre for Global the World Economic Forum. Competitiveness and Performance ISBN-13: 978-92-95044-87-6. Robert Greenhill ISBN-10: 92-95044-87-8. Chief Business Officer This book is printed on paper suitable for CENTRE FOR Global Competitiveness AND PERFORMANCE. recycling and made from fully managed and Jennifer Blanke, Director, Lead Economist, sustained forest sources. Head of the Centre for Global Competitiveness and Performance Printed and bound in Switzerland by SRO-Kundig. Margareta Drzeniek Hanouz, Director, Senior Economist Irene Mia, Director, Senior Economist Thierry Geiger, Associate Director, Economist Ciara Browne, Associate Director Pearl Samandari, Community Manager Eva Trujillo Herrera, Research Assistant Carissa Sahli, Coordinator We thank Hope Steele for her superb editing work and Neil Weinberg for his excellent graphic design and layout.

5 We are grateful to Miriam Poretti for her invaluable research assistance. The 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 inter- national 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 basis. The Global Competitiveness Report 2010-2011 2010 World Economic Forum Contents Partner Institutes v Part 2: Data Presentation 67. Preface xi Country/Economy Profiles 69. by Klaus Schwab How to Read the Country/Economy Profiles ..71. List of Countries/Economies ..73. Country/Economy Profiles ..74. Part 1: Measuring Competitiveness 1 Data Tables 353. How to Read the Data Index of Data Tables ..357. The Global Competitiveness Index 2010 2011: 3 Data Tables ..359. Looking Beyond the Global Economic Crisis by Xavier Sala-i-Martin, Jennifer Blanke, Margareta Drzeniek Hanouz, Thierry Geiger, and Irene Mia Technical Notes and Sources 495.

6 The Executive Opinion Survey: The Business 57 About the Authors 499. Executives' Insight into their Operating Environment by Ciara Browne and Thierry Geiger Acknowledgments 501. The Global Competitiveness Report 2010-2011 2010 World Economic Forum The Global Competitiveness Report 2010-2011 2010 World Economic Forum Partner Institutes Partner Institutes The World Economic Forum's Centre for Global Bangladesh Centre for Policy Dialogue (CPD). Competitiveness and Performance is pleased to Khondaker Golam Moazzem, Senior Research Fellow acknowledge and thank the following organizations Kazi Mahmudur Rahman, Senior Research Associate as its valued Partner Institutes, without which the Mustafizur Rahman, Executive Director realization of The Global Competitiveness Report Barbados 2010 2011 would not have been feasible: Arthur Lewis Institute for Social and Economic Studies, University of West Indies (UWI). Albania Andrew Downes, Director Institute for Contemporary Studies (ISB).

7 Artan Hoxha, President Belgium Elira Jorgoni, Senior Expert Vlerick Leuven Gent Management School Endrit Kapaj, Junior Expert Priscilla Boairdi, Associate, Competence Centre Entrepreneurship, Governance and Strategy Algeria Wim Moesen, Professor Centre de Recherche en Economie Appliqu e Leo Sleuwaegen, Professor, Competence Centre pour le D veloppement (CREAD) Entrepreneurship, Governance and Strategy Youcef Benabdallah, Assistant Professor Yassine Ferfera, Director Benin Micro Impacts of Macroeconomic Adjustment Policies Angola (MIMAP) Benin MITC Investimentos Epiphane Adjovi, Business Coordinator Estefania Jover, Senior Adviser Maria-Odile Attanasso, Deputy Coordinator v PROPETROL Servi os Petroliferos Fructueux Deguenonvo, Researcher Arnaldo Lago de Carvalho, Managing Partner Bosnia and Herzegovina South Africa-Angola Chamber of Commerce (SA-ACC) MIT Center, School of Economics and Business in Sarajevo, Roger Ballard-Tremeer, Hon Chief Executive University of Sarajevo Zlatko Lagumdzija, Professor Argentina Zeljko Sain, Executive Director IAE Universidad Austral Jasmina Selimovic, Assistant Director Mar a Elina Gigaglia, Project Manager Eduardo Luis Fracchia, Professor Botswana Botswana National Productivity Centre Armenia Letsogile Batsetswe, Research Consultant and Statistician Economy and Values Research Center Parmod Chandna, Acting Executive Director Manuk Hergnyan, Chairman Phumzile Thobokwe, Manager, Information and Sevak Hovhannisyan, Board Member and Senior Associate Research Services Department Gohar Malumyan, Research Associate Brazil Australia Funda o Dom Cabral Australian Industry Group Marina Ara jo, Economist and Researcher, Colleen Dowling, Senior Research Coordinator The Competitiveness and Innovation Center Nick James, Economist Carlos Arruda, Executive Director.

8 International Board and Heather Ridout, Chief Executive Professor and Coordinator, The Competitiveness Austria and Innovation Center Austrian Institute of Economic Research (WIFO) Arthur Kux, Economist and Research Assistant, Karl Aiginger, Director The Competitiveness and Innovation Center Gerhard Schwarz, Coordinator, Survey Department Movimento Brasil Competitivo (MBC). Azerbaijan Erik Camarano, Director President Azerbaijan Marketing Society Cec lia Macedo, Economist and Senior Projects Coordinator Fuad Aliyev, Project Manager Nikelma Moura, Communications Assistant Zaur Veliyev, Consultant Brunei Darussalam Bahrain Ministry of Industry and Primary Resources Bahrain Competitiveness Council, Bahrain Economic Pehin Dato Yahya Bakar, Minister Development Board Dayang Hajah Suriyah Haji Umar, Permanent Secretary I. Nada Azmi, Manager, Economic Planning and Development Dato Dr Amin Abdullah, Permanent Secretary II. Jawad Habib, Senior Partner, BDO Jawad Habib Bulgaria Rima Al Kilani, Director, International Marketing Center for Economic Development Anelia Damianova, Senior Expert The Global Competitiveness Report 2010-2011 2010 World Economic Forum Partner Institutes Burkina Faso Croatia lnstitut Sup rieure des Sciences de la Population (ISSP), National Competitiveness Council University of Ouagadougou Martina Hatlak, Research Assistant Samuel Kabore, Economist and Head of Development Strategy Kresimir Jurlin, Research Fellow and Population Research Mira Lenardic, General Secretary Burundi Cyprus University Research Centre for Economic and Social Cyprus College Research Center Development (CURDES)

9 , National University of Burundi Bambos Papageorgiou, Head of Socioeconomic Richard Ndereyahaga, Head of CURDES and Academic Research Gilbert Niyongabo, Dean, Faculty of Economics The Cyprus Development Bank & Management Maria Markidou-Georgiadou, Manager, International Cambodia Banking Services Unit and Business Development Economic Institute of Cambodia Czech Republic Sok Hach, President CMC Graduate School of Business Poch Kongchheng, Researcher Tomas Janca, Executive Director Cameroon Denmark Comit de Comp titivit ( Competitiveness Committee). Department of Business Studies, Aalborg University Lucien Sanzouango, Permanent Secretary Birgitte Gregersen, Associate Professor Canada Gert Villumsen, Associate Professor Institute for Competitiveness and Prosperity Ecuador Tamer Azer, Researcher ESPAE Graduate School of Management, Roger Martin, Chairman and Dean of the Rotman Escuela Superior Polit cnica del Litoral (ESPOL). School of Management, University of Toronto Elizabeth Arteaga, Project Assistant James Milway, Executive Director Virginia Lasio, Acting Director Cape Verde Sara Wong, Professor INOVE RESEARCH Investiga o e Desenvolvimento, Lda Egypt Rosa Brito, Senior Researcher The Egyptian Center for Economic Studies J lio Delgado, Partner and Senior Researcher Omneia Helmy, Deputy Director of Research and Frantz Tavares, Partner and Chief Executive Officer Lead Economist Chad Magda Kandil, Executive Director and Director of Research Groupe de Recherches Alternatives et de Monitoring Malak Reda, Senior Economist vi du Projet P trole-Tchad-Cameroun (GRAMP-TC).

10 Estonia Antoine Doudjidingao, Researcher Estonian Institute of Economic Research Gilbert Maoundonodji, Director Evelin Ahermaa, Head of Economic Research Sector Celine N nodji Mbaipeur, Programme Officer Marje Josing, Director Chile Estonian Development Fund Universidad Adolfo Ib ez Kitty Kubo, Head of Foresight Fernando Larrain Aninat, Director of the Master in Management Ott P rna, Chief Executive Officer and Public Policy, School of Government Camila Chadwick, Project Coordinator Ethiopia Leonidas Montes, Dean, School of Government African Institute of Management, Development and Governance China Tegegne Teka, General Manager Institute of Economic System and Management National Development and Reform Commission Finland Zhou Haichun, Deputy Director and Professor ETLA The Research Institute of the Finnish Economy Chen Wei, Research Fellow Petri Rouvinen, Research Director Dong Ying, Professor Pasi Sorjonen, Head of the Forecasting Group Pekka Yl -Anttila, Managing Director China Center for Economic Statistics Research, Tianjin University of Finance and Economics France Lu Dong, Professor HEC School of Management, Paris Jian Wang, Associate Professor Bertrand Moingeon, Professor and Deputy Dean Hongye Xiao, Professor Bernard Ramanantsoa, Professor and Dean Bojuan Zhao, Professor Gambia, The Huazhang Zheng, Associate Professor Gambia Economic and Social Development Research Colombia Institute (GESDRI).