The Czech Republic has dropped by three positions to 32nd place in the World Economic Forum’s 2019 Global Competitiveness Report. Despite that, Czechia remains the most competitive economy in Central Europe, suggests the rating. It finished behind Estonia, but ahead of the other Visegard Four countries, Poland, Slovakia, and Hungary.
The Czech Republic neither improved nor worsened in the Global Competitiveness Report 2016-2017, remaining 31st out of 140 countries ranked. In the report released by the World Economic Forum, Switzerland came first for the eighth time in a row. The study, which uses 70 per cent survey data and 30 per cent hard data, takes into consideration 12 pillars of competitiveness to determine the country’s ranking. Areas studied include health care, infrastructure, education and the labour market.
Competitiveness is one of those vogue terms that appears to be employing a lot of grey matter around the world. And the Czech Republic is no exception with the government, business groups, and recently one lawmaker from the upper house of parliament, the Senate, looking over the entrails of the local economy to determine how it’s doing compared with the rest of the world and what the future holds.