Chile is in 44th place and is the most competitive in the region

Chile is in 44th place and is the most competitive in the region
Chile is in 44th place and is the most competitive in the region

Chile was ranked 44th in the 36th edition of the World Competitiveness Ranking, published by the International Institute for Management Development (IMD) of Switzerland and carried out with the support, in the country, of the Faculty of Economics and Business (FEN). from the University of Chile, being the most competitive country in Latin America.

The country maintained the 44th position it had obtained in 2023 out of a total of 67 economies analyzed, marginally improving compared to the 45th place obtained in 2022, the worst position since 2001.

After Chile are Puerto Rico in 49th place, Mexico in 56th, Colombia in 57th, Brazil in 62nd place, Peru in 63rd place, while Argentina and Venezuela are penultimate and last, respectively, in positions 66 and 67. .

This result is far from being Chile’s best position on the list, since in 2005 it was 19th.

The country’s worst score occurred in the economic performance factor, as it went from 52 to 55, with the sub-indicators of international trade (63), employment (59) and prices (24) as the main weaknesses, having dropped several positions. in each one of them.

Regarding government efficiency, it improves slightly and rises two positions compared to the previous edition, gaining five positions in the business legislation sub-indicator (from 28 to 23).

Meanwhile, in the indicators of business efficiency and infrastructure, the country also gains several positions, obtaining a good score in access to financing and technological infrastructure (31), basic infrastructure (34) and remaining stable in education (49).

Globally, Singapore, Switzerland and Denmark occupied the top three positions in the 2024 version of the measurement. In this regard, the report says that Singapore is consolidating itself as the most competitive economy and recovers the privileged position it already had in 2020, thanks to its good results in the four competitiveness factors analyzed by the ranking, especially in government efficiency and business efficiency. , a reflection of the solidity of the public and private sectors in that nation.

Second-place Switzerland has made progress thanks to improved economic performance and business efficiency, as well as its continued leadership in government efficiency and infrastructure.

Finally, in the case of Denmark, it fell to third place due to a drop in its economic results.

Completing the top 10 are Ireland (4th), Hong Kong SAR (5th) and Sweden rising two places to 6th position, ahead of the United Arab Emirates (7th) and Taiwan – Chinese Taipei – (8th), and followed by Holland (9th) and Norway (10th).

Arturo Bris, director of the IMD World Competitiveness Center, pointed out that, at a global level, “among the main challenges in terms of competitiveness are the transition to a circular and low-carbon economy, the growing integration of emerging markets in the global economy and the pace of digital transformation.”

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