Germany fifth most competitive economy worldwide

According to the recently published “Global Competitiveness Report” by the World Economic Forum in Geneva the competitiveness of the German economy has further increased. From position seven last year Germany has in the meantime risen to the fifth place thereby being four positions and thirteen positions ahead of Great Britain and France respectively.

This positive development confirms other current location rankings which also attest the German economy progress as regards its competitiveness such as the ranking by the Swiss Management Institute IMD.

In its annual “Global Competitiveness Report” the World Economic Forum assesses the competitiveness of 131 countries on the basis of interviews with 11.000 business leaders from these countries. Evaluated are factors such as infrastructure, macroeconomic stability, education, efficiency of goods markets and labour markets, financial markets and innovational power.

According to the study Germany has made progress in the field of education. Also leading is Germany with regard to its infrastructure and the competitiveness of its businesses. As regards its labour market the flexibility thereof receives positive feedback. There are people, however, who criticize dismissal protection. The complexity of the tax system is seen negatively as well.

Further information on the Global Competitiveness Report is available online. GERMAN