2017 Global Competitiveness Report Brief

theglobalcompetitivenessreport20172018-coverThe Global Competitiveness report released by the World Economic Forum released on 26th September 2017 shows that Malawi ranks 132 out of 137 countries. This means that Malawi is the 6th least competitive country in the world. 

 

The report examines the Global Competitiveness Index (GCI) which measures the competitiveness of all countries in the world in terms of their institutions, policies and other factors which determine the level of productivity of each economy. 137 countries were assessed in 2017.

 

 

The report obtains input from business executives from all over the world through an annual survey, the Executive Opinion Survey, and is produced to provide an overview of the competitive performance of economies in the world. The GCI evaluates 114 indicators grouped into 12 pillars: institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labour market efficiency, financial market development, technological readiness, market size, business sophistication and innovation. Malawi Confederation of Chambers of Commerce and Industries administers this survey in Malawi on behalf of World Economic Forum. 

 

 

According to the report, Malawi performed badly in infrastructure development, macroeconomic environment and basic requirements which ranked 137/137, 136/137 and 134/137, respectively.

 

 

The reports points out corruption, access to finance and tax rates in that order as major obstacles to doing business in Malawi.