Pillars Of Global Competitiveness Index (GCI)12

Stated Purpose of Global Competitiveness Index (GCI):

The Global Competitiveness Index (GCI) attempts to quantify the impact of a

number of key factors which contribute to create the conditions for

competitiveness, with particular focus on the macroeconomic environment, the

quality of the country’s institutions, and the state of the country’s technology

and supporting infrastructure.

Type of data used:

Administrative data (publicly available data), such as enrollment rates,

government debt, budget deficit, and life expectancy, which are obtained from

internationally recognized agencies, notably the United Nations Educational,

Scientific and Cultural Organization (UNESCO), the IMF, and the World Health

Organization (WHO). Furthermore, it uses data from the World Economic

Forum’s annual Executive Opinion Survey (Survey)

Institutions: Concepts related to protection of property rights, efficiency and

transparency of public administration, independence of the judiciary, physical

security, business ethics and corporate governance.

#1

Infrastructure: Quality and availability of transport, electricity and

communication infrastructures

• Transport infrastructure

• Electricity & telephony infrastructure

#2

Macroeconomic environment:

Fiscal and monetary indicators, savings rate and sovereign debt rating

#3

Health & primary education: State of public health, quality and quantity of

basic education.

• Health

• Primary education

#4

Higher education & training: Quality and quantity of higher education, and

quality and availability of on-the-job training

• Quantity of education

• Quality of education

• On-the-job training

#5

Goods market efficiency: Factors that drive the intensity of domestic and

foreign competition, and demand conditions

• Competition

• Quality of demand conditions

#6

Labour market efficiency: Labour market efficiency and flexibility, meritocracy

and gender parity in the workplace

• Flexibility

• Efficient use of talent

#7

Financial market development: Efficiency, stability and trustworthiness of the

financial and banking system

• Efficiency

• Trustworthiness and confidence

#8

Technological readiness: Adoption of the technologies by individuals and

businesses.

• Technological adoption

• ICT use

#9

Market size: Size of domestic and export markets

• Domestic market size

• Foreign market size

#10

Business sophistication: Efficiency and sophistication of business processes

in the country

#11

Innovation: Capacity for, and commitment to technological innovation

#12

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