Mauritius occupies the leading position in the Sub-Saharan African region for the fourth consecutive year according to the Global Competitiveness Report 2017/2018 published by the World Economic Forum on 27th September 2017.
The Global Competitiveness Index 2017/2018 covers 137 economies. It measures national competitiveness which is defined as a set of institutions, policies and factors that determine the level of productivity. The Global Competitiveness Index measures the factors that drive long-term growth and prosperity. It helps policymakers identify challenges to be addressed as well as strengths to be built upon when elaborating strategies for economic growth.
Switzerland was ranked as the most competitive country in the world. There is a significant variation across Sub-Saharan Africa countries. Mauritius is again the most competitive country in Africa, at 45th in the overall GCI maintaining the same place as last year. South Africa has fallen behind, dropping 14 places to 61st and Rwanda drops seven places to 58th. In general, restoring macroeconomic stability and institutional trust are short-term priorities to reignite competitiveness and growth in Africa. In the long run, continued investment in infrastructure, human capital, and technological adoption will be needed to reduce productivity gaps. The report further categorise Mauritius in a group of 20 countries which are transitioning from Stage 2 to Stage 3. This means that there is a shift from an efficiency-driven economy to an innovation-driven one. This is in line with the objective of the government to attain high-income-country status.
The GCI 2017/2018 concludes regarding Africa that “As the challenges facing economies around the globe are varied, agendas to improve competitiveness need to be defined locally. Public-private collaboration must, however, also explore regional factors: multinational corporations can engage with several jurisdictions, while regional organizations, such as trade blocs, are able to coordinate countries. The Global Competitiveness Index can help to guide and structure these long-term dialogues, leading to actionable agendas—not only at the national level, but also subnationally and regionally.”
For more information download the full Global Competitiveness Index 2017/2018 report here.