Cyprus ranks 64th (up 19 places) in Global Competitiveness Index

As world leaders gather this week to the Swiss ski resort of Davos for the annual World Economic Forum, among the issues they will discuss will be global economy.

According to the Forum’s Global Competitiveness Index 2017-2018, Cyprus ranks 64th, up 19 places compared to the previous report, among 137 countries.

Covering 137 economies, the Global Competitiveness Index 2017–2018 measures national competitiveness—defined as the set of institutions, policies and factors that determine the level of productivity and prosperity, such as macroeconomic environment, business sophistication, labor market efficiency, higher education and training, health and primary education, innovation and technological readiness.

Switzerland remains on top of the ranking, followed by the US, Singapore, the Netherlands, Germany, Hong Kong, Sweden, the UK, Japan, Finland and Norway. Greece ranks 87th, Russia 38th, Turkey 53rd, Israel 16th, China 27th, India 40th, while Yemen remains in the last position, the Cyprus News Agency reports.

The World Economic Forum brings this year a record number of heads of state, government and international organizations alongside leaders from business, civil society, academia, the arts and media. On the agenda are also issues concerning which will discuss a series of issues ranging from Artificial Intelligence, global economy, climate change, international security.

Convening participants under the theme, Creating a Shared Future in a Fractured World, the meeting focuses on finding ways to reaffirm international cooperation on crucial shared interests, such as international security, the environment and the global economy. The meeting comes at a time when geostrategic competition between states is generally seen to be on the rise.

Overall, the Annual Meeting will feature over 340 top political leaders, including the US President, the President of India, the German Chancellor, the French President, the Israeli Prime Minister, the Greek Prime Minister, among others. Leaders from international organizations include  Secretary-General of the United Nations, Director-General, World Trade Organization (WTO), Director-General of the World Health Organization (WHO), President of the World Bank and Director-General of the International Labour Organization (ILO).