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Global Competitiveness Index: Mauritius ranks first in Sub-Saharan Africa

Date: October 04, 2016
Domain:Economy & Finance; Economic Indicators
Persona: Business; Citizen; Government; Non-Citizen
 

GIS - 04 October, 2016: Mauritius is ranked first in Sub-Saharan Africa and 45th worldwide with regards the global competitiveness index of the Global Competitiveness Report 2016-2017 released on 30th September by the World Economic Forum.
The country has improved its ranking from its previous position at the 46th place in the 2015-2016 report followed by South Africa and Rwanda. According to the report, Mauritius is one of the 19 countries that has made the transition from an efficiency-driven economy to an innovation-driven one.
The 2016-2017 report also refers to Mauritius as the region’s most competitive economy thereby attributing its good performance to several achievements over the past years namely: improvement in institutions that is a more efficient bureaucracy; more efficient judiciary; and also in terms of good market efficiency.
The Global Competitiveness Report 2016-2017 assesses the competitiveness landscape of 138 economies, providing insight into the drivers of their productivity and prosperity.
This year’s edition highlights that declining openness is threatening growth and prosperity. It also states that monetary stimulus measures such as quantitative easing is not enough to sustain growth and must be accompanied by competitiveness reforms. It further mentions that final key finding points to the fact that updated business practices and investment in innovation are now as important as infrastructure, skills and efficient markets.
Switzerland, Singapore and the United States remain the three world’s most competitive economies.
The Global Competitiveness Report which is calculated through the Global Competitiveness index assesses the competitiveness landscape of economies worldwide providing insight into the drivers of their productivity and prosperity based on 12 pillars of competitiveness. They are namely: institutions, innovation, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labour market efficiency, financial market development, technological readiness, market size, business sophistication and innovation.
Government Information Service, Prime Minister’s Office, Level 6, New Government Centre, Port Louis, Mauritius. Email: gis@govmu.org  Website:http://gis.govmu.org
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