|Canada’s Competitiveness Drops in Global Ranking|
Canada drops two positions to 14th place in the Global Competitiveness Index 2012-2013. Canada has dropped five places in the global rankings since 2009. In addition to the falling of ranking, Canada' s overall competitiveness score has also declined.
The report said that although Canada continues to benefit from highly efficient markets, well-functioning and transparent institutions and excellent infrastructure, it is being dragged down by a less favorable assessment of the quality of its research institutions and the government' s role in promoting innovation through procurement practices.
Although Canada has been successful in nurturing its human resources compared with other advanced economies, the data suggested a slight downward trend of its performance in higher education, driven by lower university enrollment rates and a decline in the extent to which staff is being trained at the workplace, the report said.
Overall, Switzerland tops the Global Competitiveness rankings for the fourth consecutive year. Singapore remains in the second position while Finland overtakes Sweden for the third spot.
The opinions expressed do not constitute investment advice and specialist advice should be sought about your specific circumstances.
Published on our website on September 11, 2012