Waching daily Sep 1 2018

competitiveness is how countries create

the best economic, social,

and environmental conditions

for economic evelopment

it measures what makes up this development

things like policies, institutions,

and productivity

simply put,

it monitors the vital elements

that make a country productive

and benchmarks each nations performance

so why does it matter?

striving for competitiveness

is striving for rising prosperity

it means creating more opportunities for all

to improve the way people live

a competitive economy

is most likely to grow sustainably

so how do we measure it?

there are twelve main elements

that drive the productivity of a country

hings like how institutions perform

how good their infrastructure is

their macroeconomic environment

their technological readiness

their capacity to innovate

positive and negative changes

both have far-reaching effects

on the bigger picture

it's these interconnections

that lie at the heart of a country's development

for example, strong innovation

is more likely to be achieved

with a healthy well-educated, well-trained workforce

in a country that has the ability

to invest in research and development

and has the transport infrastructure

to move its goods and people

where they need to be

how can focusing on competitiveness make a difference

it helps policymakers diagnose

what makes one country more productive than another

giving them a clear picture

of the direct impact of their policies

competitiveness takes into account

the hospitals that care for us

the schools that educate our children

the development of the technologies who take for granted

the roads we navigate

the financial markets

that allow us to make critical investments

the prospects for employment

our present and future living standards

because it's all about creating a better life

for everyone