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Jamaica's competitiveness improves

Jamaica has improved in ranking in the just released 2014/2015 Global Competitiveness Report.

It was placed 86 out of 144 countries in the Global Competitiveness Index.

This is up from 94 in last year's index and 97 in 2012/2013.
Crime and theft, inefficient Government bureaucracy, corruption and tax rates as well as poor work ethic in the labour force were listed as the most problematic factors for doing business in Jamaica.
Also on the list were access to financing, inflation, tax regulations and an inadequately educated work force.
The Global Competitiveness Report released by the World Economic Forum shows the UK has edged up the rankings.
It moved one spot to ninth on the list, while Switzerland and Singapore retained first and second place. 
    
The US improved its competitiveness position for the second consecutive year, climbing two places to third. 
But the World Economic Forum warns that the global economy's health is at risk, despite years of  monetary stimulus and reforms. 
Each year, the Forum, best known for its annual Davos economic meeting, benchmarks countries against 12 factors, including infrastructure, education and training, labour market efficiency, technological readiness and innovation. 
The aim is to produce a comparative picture of  what is driving competitiveness, productivity, and prosperity.



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