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The Global Competitiveness Report How Countries Are The Global Competitiveness Report SPECIAL EDITION 2020 How Countries are Performing on the Road to Recovery Klaus Schwab Saadia Zahidi World Economic Forum The Global Competitiveness Report Special Edition 2020: How Countries are Performing on the Road to Recovery Terms of use and disclaimer The analysis presented in the Global Other parties may have ownership interests in some Competitiveness Report Special Edition 2020 of the data contained in this report. The World (herein: “report”) is based on a methodology Economic Forum in no way represents or warrants integrating the latest statistics from international that it owns or controls all rights in all data, and the organizations and a survey of executives. The World Economic Forum will not be liable to users for methodology, developed in collaboration with any claims brought against users by third parties in leading experts and practitioners through a connection with their use of any data. three-year consultative process, is designed to support countries to identify relevant policies The World Economic Forum, its agents, officers, and practices. The findings, interpretations, and employees do not endorse or in any respect and conclusions expressed in this work do warrant any third-party products or services by not necessarily reflect the views of the World virtue of any data, material, or content referred to or Economic Forum. included in this report. Users shall not infringe upon the integrity of the data and in particular shall refrain The report presents information and data that from any act of alteration of the data that intentionally were compiled and/or collected by the World affects its nature or accuracy. If the data is materially Economic Forum (all information and data transformed by the user, this must be stated referred herein as “data”). data in this report is explicitly along with the required source citation. subject to change without notice. The terms country and nation as used in this report do For data compiled by parties other than the World not in all cases refer to a territorial entity that Economic Forum, as specified in Appendix A of is a state as understood by international law this report, users must refer to these parties’ terms and practice. The terms cover well-defined, of use, in particular concerning the attribution, geographically self-contained economic distribution, and reproduction of the data. areas that may not be states but for which statistical data is maintained on a separate and When data for which the World Economic Forum independent basis. is the source (herein “World Economic Forum”), as specified in Appendix A of this report, is distributed Although the World Economic Forum takes every or reproduced, it must appear accurately and be reasonable step to ensure that the data thus attributed to the World Economic Forum. This compiled and/or collected is accurately reflected source attribution requirement is attached to any use in this report, the World Economic Forum, its of data, whether obtained directly from the World agents, officers, and employees: (i) provide the Economic Forum or from a user. data “as is, as available” and without warranty of any kind, either express or implied, including, Users who make World Economic Forum data without limitation, warranties of merchantability, available to other users through any type of fitness for a particular purpose and non- distribution or download environment agree to make infringement; (ii) make no representations, reasonable efforts to communicate and promote express or implied, as to the accuracy of the compliance by their end users with these terms. data contained in this report or its suitability for any particular purpose; (iii) accept no liability for Users who intend to sell World Economic Forum any use of the said data or reliance placed on it, data as part of a database or as a stand-alone in particular, for any interpretation, decisions, or product must first obtain the permission from the actions based on the data in this report. World Economic Forum ([email protected]). World Economic Forum 91-93 route de la Capite All rights reserved. No part of this publication may CH-1223 Cologny/Geneva be reproduced, stored in a retrieval system, or Switzerland transmitted, in any form or by any means, electronic, Tel.: +41 (0)22 869 1212 mechanical, photocopying, or otherwise without the Fax: +41 (0)22 786 2744 prior permission of the World Economic Forum. E-mail: [email protected] www.weforum.org ISBN 978-2-940631-17-9 Copyright © 2020 The report and an interactive data platform are by the World Economic Forum available at www.weforum.org. 2 The Global Competitiveness Report Special Edition 2020: How Countries are Performing on the Road to Recovery Contents 4 Preface 5 Executive Summary 9 Introduction 11 Section 1 Enabling Environment 12 1.1 What were the enabling environment-related priorities emerging from the past decade? 17 1.2 What are the priorities for the enabling environment for the revival of economies? 19 1.3 What are the priorities for the transformation of enabling environments? 20 Section 2 Human Capital 21 2.1 What were the human capital-related priorities emerging from the past decade? 25 2.2 What are the priorities for human capital development for revival of economies? 26 2.3 What are the priorities for the transformation of human capital? 27 Section 3 Markets 28 3.1 What were the markets-related priorities emerging from the past decade? 35 3.2 What are the priorities for markets to become a driving force in economic revival? 36 3.3 What are the priorities for the transformation of markets? 38 Section 4 Innovation Ecosystem 39 4.1 What were the innovation ecosystem-related priorities emerging from the past decade? 41 4.2 What are the priorities for innovation ecosystem to for the revival of economies? 42 4.3 What are the priorities for the transformation of innovation ecosystem? 43 Section 5 Measuring Economic Transformation Readiness 52 Section 6 Disruptions and Resilience: Tracking the Impact of the Pandemic through Business Perceptions 53 6.1 The impact of the COVID-19 crisis on indicators of competitiveness 54 6.2 Key features of competitiveness that enhanced countries’ responses to the pandemic 63 Appendix A – Transformation Readiness Framework: Methodology and Definitions 73 Appendix B - Transformation Readiness Performance by Score in Category 77 Appendix C – The Executive Opinion Survey: The Voice of the Business Community 87 Contributors and Acknowledgements 88 Partner Institutes © 2020 World Economic Forum. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, including photocopying and recording, or by any information storage and retrieval system. 3 The Global Competitiveness Report Special Edition 2020: How Countries are Performing on the Road to Recovery Preface Klaus Schwab Saadia Zahidi Founder and Managing Director Executive Chairman The combined health and economic shocks of vision and a nuanced balance between the short 2020 have impacted the livelihoods of millions and long term. At the World Economic Forum’s of households, disrupted business activities, New Economy and Society Platform, the home and exposed the fault lines in today’s social of The Global Competitiveness Report, provides protection and healthcare systems. The crisis has an ecosystem for such actors. Over 200 leaders also further accelerated the effects of the Fourth from government, business and civil society Industrial Revolution on trade, skills, digitization, work together to shape a new vision, design new competition and employment, and highlighted the standards and drive scalable, collaborative action disconnect between our economic systems and on four deeply interconnected areas: 1) economic societal resilience. growth, revival and transformation; 2) work, wages and job creation; 3) education, skills and In this moment, it is crucial to not only reflect learning; and 4) diversity, inclusion, equity and on how best to return to growth, but also, how social justice. By combining insight, standards to build back better economies that improve and action the Platform serves as an accelerator outcomes for people and the planet. This special for leaders championing emerging solutions, edition of the Global Competitiveness Report pilots and partnerships. We invite like-minded provides the basis to support such deeper leaders to join us to co-shape the new solutions reflection, providing policymakers with priorities highlighted in this report, working together with across three timeframes: those priorities that the urgency and ambition that the current context emerged from before the crisis, those priorities demands of us. that are critical for the shorter term revival, and those priorities that are essential for longer term We want to express our gratitude to the core transformation for better outcomes on shared project team involved in the production of this prosperity and sustainability in the future. report: Roberto Crotti and Kusum Kali Pal, as well as their colleagues who supported the Since 1979 the Global Competitiveness development of the new concepts for future Report series has aimed to broaden the views transformation: Silja Baller, Sophie Brown, Attilio of policymakers, business and the public di Battista, Guillaume Hingel, and Vesselina on looking beyond growth alone to enhance Stefanova Ratcheva. Our deep gratitude goes economic productivity and broader resilience. to our network of Partner Institutes, which help In this Special Edition, at this turbulent time for administer the Executive Opinion Survey, whose the global economy, we pause comparative results provide invaluable data. country rankings on the Global Competitiveness Index. Instead we take a fundamental look at We hope this Special Edition of the Global how economies should think about revival and Competitiveness Report will serve as a call transformation as they recover and redesign to action to engage in the visionary and bold their economic systems to enhance human leadership required to build a new economic development and compatibility with the agenda for growing, productive, sustainable and environment.
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