Invest in Finland

Finland ranked sixth in the World Economic Forum’s Global Competitiveness Report 2007-2008

06/11/2007

Published on 31st October, the World Economic Forum ranks Finland sixth overall in its Global Competitiveness Report 2007-2008 (GCR). According to the WEF, rankings are calculated from both publicly available data and the Executive Opinion Survey, a comprehensive annual survey carried out by the WEF and designed to capture a broad range of factors affecting an economy’s business climate. To compile this year’s GCR, more than 11,000 business leaders were polled in a record 131 countries.

Scores for the top ten countries in the 2007-2008 Global Competitiveness Index (GCI) range from 5.67 (USA, 1st) to 5.4 (The Netherlands, 10th). Finland, in sixth place, scores 5.49.  In last year’s GCI (2006-2007), scores for the top ten countries ranged from 5.81 (Switzerland, 1st) to 5.54 (UK, 10th) and Finland was ranked second with a score of 5.76. The same ten countries featured in the top ten positions in both the 2007-2008 and 2006-2007 editions of the GCI.

“A comprehensive picture of the competitiveness landscape”

 
The Global Competitiveness Index used to compute overall competitiveness rankings in the GCR was developed for the WEF by Professor Xavier Sala-i-Martin of Columbia University and introduced in 2004. According to the WEF, the GCI is based on 12 ‘pillars’ of competitiveness that “Provide a comprehensive picture of the competitiveness landscape in countries around the world at all stages of development”.

Pillars in which Finland ranks in the top three in the 2007-2008 GCI are: Institutions (1st), Health and Primary Education (1st), Higher Education and training (1st), and Innovation (3rd). Another section of the GCR presents the Business Competitiveness Index (BCI), a more detailed examination of the microeconomic aspects of competitiveness. In this index, which includes 127 countries, Finland is ranked 3rd overall behind the USA (1st) and Germany (2nd).

The World Economic Forum is an independent international organization committed to improving the state of the world by engaging leaders in partnerships to shape global, regional and industry agendas. Based in Geneva, Switzerland, the WEF is impartial and not-for-profit, and is tied to no political, partisan or national interests.

Further information:

http://www.weforum.org/en/initiatives/gcp/Global%20Competitiveness%20Report/index.htm