Germany maintains strong competitive position
World Economic Forum publishes Global Competitiveness Report
Sep 30, 2015
Berlin (gtai) - The World Economic Forum’s Global Competitiveness Report was released on Wednesday September 30, with Germany rising one place to 4th in the world.
The report, which creates a composite score drawn from a country’s performance across a number of economic ‘pillars’, such as infrastructure, goods and labour market efficiency, business sophistication and innovation, noted especially Germany’s global excellence in terms of business sophistication, market dominance and aspects of education and innovative capacity, while the market size – Germany is Europe’s largest economy – was also an advantage.
The German economy generally was denoted as ‘innovation driven’, with Germany ranking third globally in terms of overall innovation and sophistication factors.
“The excellent ranking in the World Economic Forum report serves to show that Germany’s strategic direction of becoming a global R&D and production centre has been successful,” said Achim Hartig, Managing Director of Germany Trade & Invest.
Global Competitiveness Report 2015-2016 (Link)