Greece was the 6th worst among 63 countries in competitiveness, according to the 2019 International Institute for Management Development (IMD) list.
Ukraine, Peru, Bulgaria, Romania, and Colombia were ranked higher than Greece which lost one spot on the global chart, despite the improvement in the country’s performance in three main categories of indicators, those of economic, governmental and business efficiency.
Singapore leapfrogged the US and Hong Kong to be named the world’s most competitive economy for the first time since 2010.
The IMD survey, which is widely acknowledged as one of the most reputable barometers of international competitiveness, is based on an analysis of more than 235 indicators derived from four main factors: economic performance, government efficiency, business efficiency, and infrastructure.
In the category of “Economic Efficiency” Greece ranked 60th among 63 countries for 2019, compared to the sixty-first in the previous ranking.
In the “Business Efficiency” indicator Greece gained one spot in the list as it was ranked 58th compared to last year’s 59th.
In the “Infrastructure” index Greece slipped to 41st in the current survey from 40th last year, while it recorded a slight improvement in “Government efficiency” as it ranked 60th from 61st last year.