Publicat pe 18/12/2020

Bucharest, December 16th, 2020: The Romanian Chamber of Commerce and Industry (CCIR) informs the business environment about the launch of the special edition of the Global Competitiveness Report 2020, an annual ranking made by the World Economic Forum.

The 2020 special edition of the Global Competitiveness Report is launched at a very difficult and uncertain historical moment worldwide. The COVID-19 pandemic not only led to a global health crisis and a deep economic recession, deeper than the recession during the 2008–2009 financial crisis, but also created a climate of uncertainty about prospects.

This year, the Global Competitiveness Report does not provide country rankings, as in previous years, due to a lack of data from various international organizations, as well as the need to find a new perspective on economic recovery from the COVID-19 shock. The 2020 edition pursues the unique context and priorities emerging from the pandemic, without omitting the needs that had already foreshadowed before the crisis. The report lays the groundwork for a new direction to support policy makers and other leaders in defining how to “rebuild better”.

This year’s report is structured in six complex sections. The first four sections analyze past and current trends through widely discussed thematic areas such as: institutions, infrastructure, macroeconomic stability, health, skills, product market, labor market, financial system, market size, business dynamism and innovation capacity. In each of these thematic areas, priorities are presented in order to support economic development. These priorities are organized into three time intervals: the last 12 years (analysis), which sets out the evolution of key factors including, in the short term, the shock impact of the COVID-19 crisis; the next two years (revival), in which the priorities for restarting the economy are analyzed; the next 3-5 years (transformation), in which the aim is to set priorities in the economy.

The fifth section of the report presents a first attempt to assess the readiness of countries to reach their maximum development potential in the four thematic areas mentioned in the previous sections.

The sixth section provides an overview of global competitiveness based on a comprehensive survey, a key tool that facilitates access to business leaders’ views on economies.

The full report can be viewed by accessing this link: https://ccir.ro/wp-content/uploads/2014/11/WEF_TheGlobalCompetitivenessReport2020.pdf

 

Background

The Global Competitiveness Report is based on a methodology that integrates the latest statistics from international organizations and is designed to help countries identify relevant policies and practices.

The global competitiveness index, which underlies the report, is made up of a set of factors with a direct implication on productivity, namely: institutions, infrastructure, macroeconomic stability, health, skills, product market, labor market, financial system, market size, business dynamism and capacity for innovation.