June 27, 2022
According to the World Competitiveness Yearbook published by the Institute for Management Development, Croatia has made progress in all competitiveness factors and has risen 13 places to 46th place on the IMD’s World Competitiveness Ranking (IMD).
Denmark ascended to the top spot for the first time in the ranking’s 34-year history, having finished third in 2021, while Croatia jumped 13 places from 59th to 46th.
The World Competitiveness Centre attributes Croatia’s performance to an improved business climate, as well as the country’s impending eurozone membership.
The ranking is based on a survey of the performance of each of the 63 countries studied across 333 criteria. Two-thirds of benchmarks are based on statistical data, with the remaining one-third on the opinions of entrepreneurs.
In terms of the Economic Performance benchmark, Croatia is ranked 32nd, up from 50th in 2021.
Croatia has risen from 57th to 46th place in the category of Government Efficiency.
In terms of Business Efficiency, it has risen to 49th place from 64th in 2021, and in terms of Infrastructure, it has risen 5 places to 45th.
According to respondents’ opinions (Executive Opinion Survey), Croatia’s greatest advantage is a skilled and qualified labor force, as well as a high level of education.
Ivan Mieti, the acting head of the Croatian Competitiveness Council, stated in a statement that he is pleased with Croatia’s significant improvement in the ranking.
According to the Lausanne-based organization, Switzerland dropped to second (from first) and Singapore rose to third (from fifth).
Source: Total Croatia News
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.
