Spain's strong points continue to be its infrastructure, for which it placed 12th among the 137 economies. Air transport, railroads, ports and roads all receive high marks. Another bright spot is Spain's higher education and training, with high marks for management schools and enrollment rates in secondary and tertiary education. There remains much room for improvement, too. According to the GCI Executive Opinion Survey, "inefficient government bureaucracy, tax rates, and restrictive labor regulations" are the most problematic factors, dampening innovation and productivity.
More on Europe and Asia
Elsewhere in Southern Europe, Portugal (42nd) climbed four spots, overtaking Italy (43rd). Meanwhile, Northern Europe was well represented in the top 10, although Sweden (7th) and the United Kingdom (8th) each slipped one spot. (See top 10 insert.)
Within the top 10, Hong Kong SAR was the biggest gainer, climbing three spots to sixth. Hong Kong boasts the world's very best physical infrastructure and the second-highest score for efficient markets, based on its healthy competition and openness.
Elsewhere in Asia, Japan ranked 9th while China climbed one spot to 27th. At 40th place, India remained the most competitive country in South Asia.
Methodology, Very Briefly
The WEF's Global Competitiveness Report has ranked economies based on its Global Competitiveness Index (GCI) since 2005. GCI rankings for 137 economies are evaluated according to 12 pillars (i.e., categories) of competitiveness. They are: institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labor market efficiency, financial market development, technological readiness, market size, business sophistication, and innovation. Various indicators for each pillar are scored based on statistical data (from internationally recognized organizations) as well as perception data, which comes from the GCI's Executive Opinion Survey, one of the largest executive studies of its kind with thousands of respondents.
Full details are available in the
report.