Conozca la situación de Costa Rica respecto al resto de la región, con base en el Informe de Competitividad Global.

1. Schwab
The Global
Competitiveness Report
The Global Competitiveness Report 2011–2012
2011–2012
Klaus Schwab, World Economic Forum
The Global Competitiveness Report 2011-2012 © 2011 World Economic Forum

2. World Economic Forum
Geneva, Switzerland 2011
Professor Klaus Schwab
World Economic Forum
Editor
The Global
Competitiveness Report
2011–2012
Professor Xavier Sala-i-Martin
Columbia University
Chief Advisor of the Centre for Global Competitiveness and Performance
The Global Competitiveness Report 2011-2012 © 2011 World Economic Forum

3. The Global Competitiveness Report 2011– World Economic Forum
2012 is published by the World Economic Geneva
Forum within the framework of the Centre for
Global Competitiveness and Performance Copyright © 2011
by the World Economic Forum
Professor Klaus Schwab All rights reserved. No part of this publication
Executive Chairman may be reproduced, stored in a retrieval system,
or transmitted, in any form or by any means,
Professor Xavier Sala-i-Martin
electronic, mechanical, photocopying, or other-
other
Chief Advisor of the Centre for Global
wise without the prior permission of the World
Competitiveness and Performance
Economic Forum.
Robert Greenhill
ISBN-13: 978-92-95044-74-6
Chief Business Officer
ISBN-10: 92-95044-74-6
This book is printed on paper suitable for
CENTRE FOR GLOBAL COMPETITIVENESS AND PERFORMANCE
recycling and made from fully managed and
Jennifer Blanke, Senior Director, Lead sustained forest sources.
Economist, Head of the Centre for Global
Competitiveness and Performance Printed and bound in Switzerland by SRO-Kundig.
Beñat Bilbao-Osorio, Associate Director,
Economist
Roberto Crotti, Junior Quantitative
Economist
Margareta Drzeniek Hanouz, Director,
Senior Economist
Brindusa Fidanza, Associate Director,
Environmental Initiatives
Thierry Geiger, Associate Director,
Economist
Ciara Browne, Associate Director
Pearl Samandari, Community Manager
Satu Kauhanen, Coordinator
We thank Hope Steele for her superb edit-
ing work and Neil Weinberg for his excellent
graphic design and layout. We are grateful to
Djemila Zouyene for her invaluable research
assistance.
The terms country and nation as used in this
report do not in all cases refer to a territorial
entity that is a state as understood by inter-
inter
national law and practice. The terms cover
well-defined, geographically self-contained
economic areas that may not be states but
for which statistical data are maintained on a
separate and independent basis.
The Global Competitiveness Report 2011-2012 © 2011 World Economic Forum

4. Contents
Partner Institutes v Part 2: Data Presentation 85
Preface xiii 2.1 Country/Economy Profiles 87
by Klaus Schwab and Robert Greenhill How to Read the Country/Economy Profiles ................................89
List of Countries/Economies .........................................................91
Country/Economy Profiles.............................................................92
Part I: Measuring Competitiveness 1 2.2 Data Tables 377
How to Read the Data Tables .....................................................379
Index of Data Tables ...................................................................381
1.1 The Global Competitiveness Index 2011–2012: 3
Data Tables..................................................................................383
Setting the Foundations for Strong Productivity
by Xavier Sala-i-Martin, Beñat Bilbao-Osorio, Jennifer Blanke,
Margareta Drzeniek Hanouz, and Thierry Geiger Technical Notes and Sources 521
1.2 The Long-Term View: Developing a Framework for 51 About the Authors 525
Assessing Sustainable Competitiveness
by Jennifer Blanke, Roberto Crotti, Margareta Drzeniek Hanouz,
Brindusa Fidanza, and Thierry Geiger Acknowledgments 527
1.3 The Executive Opinion Survey: An Indispensable 75
Tool in the Assessment of National Competitiveness
by Ciara Browne and Thierry Geiger
The Global Competitiveness Report 2011-2012 © 2011 World Economic Forum

5. The Global Competitiveness Report 2011-2012 © 2011 World Economic Forum

6. Partner Institutes
Partner Institutes
The World Economic Forum’s Centre for Global Bangladesh
Centre for Policy Dialogue (CPD)
Competitiveness and Performance is pleased to
Mustafizur Rahman, Executive Director
acknowledge and thank the following organizations Khondaker Golam Moazzem, Senior Research Fellow
as its valued Partner Institutes, without which the Kishore Kumer Basak, Research Associate
realization of The Global Competitiveness Report 2011– Barbados
2012 would not have been feasible: Arthur Lewis Institute for Social and Economic Studies,
University of West Indies (UWI)
Albania Andrew Downes, Director
Institute for Contemporary Studies (ISB)
Artan Hoxha, President Belgium
Elira Jorgoni, Senior Expert and Project Manager Vlerick Leuven Gent Management School
Denalada Kuzumi, Researcher Priscilla Boairdi, Associate, Competence Centre
Entrepreneurship, Governance and Strategy
Algeria Wim Moesen, Professor
Centre de Recherche en Economie Appliquée pour le Leo Sleuwaegen, Professor, Competence Centre
Développement (CREAD) Entrepreneurship, Governance and Strategy
Youcef Benabdallah, Assistant Professor
Yassine Ferfera, Director Benin
CAPOD—Conception et Analyse de Politiques de
Angola Développement
MITC Investimentos Epiphane Adjovi, Director v
Estefania Jover, Senior Adviser Maria-Odile Attanasso, Deputy Coordinator
South Africa-Angola Chamber of Commerce (SA-ACC) Fructueux Deguenonvo, Researcher
Roger Ballard-Tremeer, Hon Chief Executive
Bosnia and Herzegovina
Argentina MIT Center, School of Economics and Business in Sarajevo,
IAE—Universidad Austral University of Sarajevo
Cristian Alonso, Project Manager Zlatko Lagumdzija, Professor
Eduardo Luis Fracchia, Professor Zeljko Sain, Executive Director
Jasmina Selimovic, Assistant Director
Armenia
Economy and Values Research Center Botswana
Manuk Hergnyan, Chairman Botswana National Productivity Centre
Sevak Hovhannisyan, Board Member and Senior Associate Letsogile Batsetswe, Research Consultant and Statistician
Gohar Malumyan, Research Associate Parmod Chandna, Acting Executive Director
Phumzile Thobokwe, Manager, Information and Research
Australia Services Department
Australian Industry Group
Carola Lehmer, Senior Research Coordinator Brazil
Heather Ridout, Chief Executive Fundação Dom Cabral
Nikki Wilson, Administrative Assistant Marina Araújo, Economist and Researcher, The
Competitiveness and Innovation Center
Austria Carlos Arruda, Executive Director, International Advisory
Austrian Institute of Economic Research (WIFO) Council and Professor, The Competitiveness and
Karl Aiginger, Director Innovation Center
Gerhard Schwarz, Coordinator, Survey Department Fabiana Madsen, Economist and Researcher, The
Azerbaijan Competitiveness and Innovation Center
Azerbaijan Marketing Society Movimento Brasil Competitivo (MBC)
Fuad Aliyev, Project Manager Erik Camarano, Director President
Ashraf Hajiyev, Consultant Nikelma Moura, Communications Assistant
Tatiana Ribeiro, Project Coordinator
Bahrain
Bahrain Competitiveness Council, Bahrain Economic Brunei Darussalam
Development Board Ministry of Industry and Primary Resources
Nada Azmi, Manager, Economic Planning and Development Pehin Dato Yahya Bakar, Minister
Mohammed bin Essa Al-Khalifa, Chief Executive Dato Dr Amin Abdullah, Permanent Secretary
Maryam Matter, Coordinator, Economic Planning and
Development Bulgaria
Center for Economic Development
Anelia Damianova, Senior Expert
The Global Competitiveness Report 2011-2012 © 2011 World Economic Forum

7. Partner Institutes
Burkina Faso Croatia
lnstitut Supérieure des Sciences de la Population (ISSP), National Competitiveness Council
University of Ouagadougou Jadranka Gable, Project Administrator
Samuel Kabore, Economist and Head of Development Kresimir Jurlin, Research Associate
Strategy and Population Research Mira Lenardic, Senior Advisor
Burundi Cyprus
University Research Centre for Economic and Social Cyprus College Research Center
Development (CURDES), National University of Burundi Bambos Papageorgiou, Head of Socioeconomic and
Banderembako Deo, Director Academic Research
Gilbert Niyongabo, Dean, Faculty of Economics &
cdbbank—The Cyprus Development Bank
Management
Maria Markidou-Georgiadou, Manager, International Business
Cambodia Banking
Economic Institute of Cambodia
Czech Republic
Sok Hach, President
CMC Graduate School of Business
Seiha Neou, Research Manager
Tomas Janca, Executive Director
Sokheng Sam, Researcher
Denmark
Cameroon
Innoption EMEA ApS
Comité de Compétitivité (Competitiveness Committee)
Carsten Snedker, Managing Partner
Lucien Sanzouango, Permanent Secretary
Ecuador
Canada
ESPAE Graduate School of Management, Escuela Superior
The Conference Board of Canada
Politécnica del Litoral (ESPOL)
Michael R. Bloom, Vice-President, Organizational
Elizabeth Arteaga, Project Assistant
Effectiveness & Learning
Virginia Lasio, Director
Anne Golden, President and Chief Executive Officer
Sara Wong, Professor
P. Derek Hughes, Senior Research Associate
Egypt
Cape Verde
The Egyptian Center for Economic Studies
INOVE RESEARCH—Investigação e Desenvolvimento, Lda
Iman Al-Ayouty, Senior Economist
Sara Mendes, Senior Researcher
Omneia Helmy, Deputy Director of Research and Lead
Júlio Delgado, Partner and Senior Researcher
Economist
Frantz Tavares, Partner and Chief Executive Officer
Magda Kandil, Executive Director and Director of Research
vi Chad
Estonia
Groupe de Recherches Alternatives et de Monitoring du
Estonian Institute of Economic Research
Projet Pétrole-Tchad-Cameroun (GRAMP-TC)
Evelin Ahermaa, Head of Economic Research Sector
Antoine Doudjidingao, Researcher
Marje Josing, Director
Gilbert Maoundonodji, Director
Celine Nénodji Mbaipeur, Programme Officer Estonian Development Fund
Kitty Kubo, Head of Foresight
Chile Ott Pärna, Chief Executive Officer
Universidad Adolfo Ibáñez
Fernando Larrain Aninat, Director of the Master in Ethiopia
Management and Public Policy, School of Government African Institute of Management, Development and
Camila Chadwick, Project Coordinator Governance
Leonidas Montes, Dean, School of Government Tegegne Teka, General Manager
China Finland
Institute of Economic System and Management ETLA—The Research Institute of the Finnish Economy
National Development and Reform Commission Petri Rouvinen, Research Director
Zhou Haichun, Deputy Director and Professor Markku Kotilainen, Research Director
Chen Wei, Research Fellow Pekka Ylä-Anttila, Managing Director
Dong Ying, Professor
France
China Center for Economic Statistics Research, HEC School of Management, Paris
Tianjin University of Finance and Economics Bertrand Moingeon, Professor and Deputy Dean
Lu Dong, Professor Bernard Ramanantsoa, Professor and Dean
Hongye Xiao, Professor
Gambia, The
Bojuan Zhao, Professor
Gambia Economic and Social Development Research Institute
Huazhang Zheng, Associate Professor
(GESDRI)
Colombia Makaireh A. Njie, Director
National Planning Department
Georgia
Alvaro Edgar Balcazar, Entrepreneurial Development Director
Business Initiative for Reforms in Georgia
Hernando José Gómez, General Director
Tamara Janashia, Executive Director
Nelson Fabián Villareal Rincón, Advisor
Giga Makharadze, Founding Member of the Board of
Colombian Council of Competitiveness Directors
Rosario Córdoba, President Mamuka Tsereteli, Founding Member of the Board of
Directors
Côte d’Ivoire
Chambre de Commerce et d’Industrie de Côte d’Ivoire
Jean-Louis Billon, President
Jean-Louis Giacometti, Technical Advisor to the President
Mamadou Sarr, Director General
The Global Competitiveness Report 2011-2012 © 2011 World Economic Forum

8. Partner Institutes
Germany Ireland
IW Consult GmbH, Cologne Institute for Economic Research Competitiveness Survey Group, Department of Economics,
Adriana Sonia Neligan, Head of Department University College Cork
Eleanor Doyle, Professor, Department of Economics
WHU—Otto Beisheim School of Management, Vallendar
Niall O’Sullivan
Ralf Fendel, Professor of Monetary Economics
Bernadette Power
Michael Frenkel, Professor, Chair of Macroeconomics and
International Economics National Competitiveness Council
Adrian Devitt, Manager
Ghana
Michelle Nic Gearailt, Assistant Economist
Association of Ghana Industries (AGI)
Patricia Djorbuah, Projects Officer Israel
Cletus Kosiba, Executive Director Manufacturers’ Association of Israel (MAI)
Nana Owusu-Afari, President Shraga Brosh, President
Dan Catarivas, Director
Greece
Amir Hayek, Managing Director
SEV Hellenic Federation of Enterprises
Michael Mitsopoulos, Coordinator, Research and Analysis Italy
Thanasis Printsipas, Economist, Research and Analysis SDA Bocconi School of Management
Secchi Carlo, Full Professor of Economic Policy, Bocconi
Guatemala
University
FUNDESA
Paola Dubini, Associate Professor, Bocconi University
Edgar A. Heinemann, President of the Board of Directors
Francesco A. Saviozzi, SDA Assistant Professor,
Pablo Schneider, Economic Director
Strategic and Entrepreneurial Management Department
Juan Carlos Zapata, General Manager
Jamaica
Guyana
Mona School of Business (MSB), The University of the West
Institute of Development Studies, University of Guyana
Indies
Karen Pratt, Research Associate
Patricia Douce, Project Administrator
Clive Thomas, Director
Evan Duggan, Executive Director and Professor
Haiti William Lawrence, Director, Professional Services Unit
Private Sector Economic Forum
Japan
Edouard Baussan, Deputy Coordinator
Keio University in cooperation with Keizai Doyukai Keizai
Reginald Boulos, Coordinator
(Japan Association of Corporate Executives)
Bernard Craan, Secretary General
Yoko Ishikura, Professor,Graduate School of Media Design,
Keio University
vii
Hong Kong SAR
Hong Kong General Chamber of Commerce Kiyohiko Ito, Managing Director, Keizai Doyukai
David O’Rear, Chief Economist Heizo Takenaka, Director, Global Security Research Institute,
Keio University
Federation of Hong Kong Industries
Alexandra Poon, Director Jordan
Ministry of Planning & International Cooperation
The Chinese General Chamber of Commerce
Jordan National Competitiveness Team
Hungary Mukhallad Omari, Director of Policies and Studies
KOPINT-TÁRKI Economic Research Ltd. Department
Peter Vakhal,, Project Manager Aktham Al-Zubi, Senior Researcher
Éva Palócz, Chief Executive Officer Kawther Al-Zou’bi, Head of Competitiveness Division
Iceland Kazakhstan
Innovation Center Iceland JSC “National Analytical Centre of the Government of the
Karl Fridriksson, Managing Director of Human Resources and Republic of Kazakhstan”
Marketing Takhir Aslyaliyev, Project Manager
Ardis Armannsdottir, Marketing Manager Ayana Manasova, Chairperson
Thorsteinn I. Sigfusson, Director Alikhan Yerzhanov, Expert Analyst
India Kenya
Confederation of Indian Industry (CII) Institute for Development Studies, University of Nairobi
Chandrajit Banerjee, Director General Mohamud Jama, Director and Associate Professor
Marut Sengupta, Deputy Director General Paul Kamau, Senior Research Fellow
Gantakolla Srivastava, Head, Financial Services Dorothy McCormick, Research Professor
Indonesia Korea, Republic of
Center for Industry, SME & Business Competition Studies, College of Business School, Korea Advanced Institute of
University of Trisakti Science and Technology KAIST
Tulus Tambunan, Professor and Director Ingoo Han, Senior Associate Dean and Professor
Byungtae Lee, Acting Dean
Iran, Islamic Republic of
Professor Kayla Jisoo Lee, Manager, Exchange Programme
The Centre for Economic Studies and Surveys (CESS), Iran
Chamber of Commerce, Industries and Mines Korea Development Institute
Hammed Roohani, Director Joohee Cho, Senior Research Associate
Yongsoo Lee, Head, Policy Survey Unit
The Global Competitiveness Report 2011-2012 © 2011 World Economic Forum

9. Partner Institutes
Kuwait Mauritania
Kuwait National Competitiveness Committee Centre d’Information Mauritanien pour le Développement
Adel Al-Husainan, Committee Member Economique et Technique (CIMDET/CCIAM)
Fahed Al-Rashed, Committee Chairman Khira Mint Cheikhnani, Director
Sayer Al-Sayer, Committee Member Lô Abdoul, Consultant and Analyst
Habib Sy, Analyst
Kyrgyz Republic
Economic Policy Institute “Bishkek Consensus” Mauritius
Lola Abduhametova, Program Coordinator Joint Economic Council of Mauritius
Marat Tazabekov, Chairman Raj Makoond, Director
Latvia Board of Investment
Institute of Economics, Latvian Academy of Sciences Kevin Bessondyal, Assistant Director, Planning and Policy
Helma Jirgena, Director Dev Chamroo, Director, Planning and Policy
Irina Curkina, Researcher Raju Jaddoo, Managing Director
Lebanon Mexico
Bader Young Entrepreneurs Program Center for Intellectual Capital and Competitiveness
Antoine Abou-Samra, Managing Director Erika Ruiz Manzur, Executive Director
Hiba Zunji, Assistant René Villarreal Arrambide, President and Chief Executive
Officer
Lesotho Jesús Zurita González, General Director
Private Sector Foundation of Lesotho
Instituto Mexicano para la Competitividad (IMCO)
O.S.M. Moosa, Chaiperson
Priscila Garcia, Researcher
Tiisetso Sekhonyana, Researcher
Manuel Molano, Deputy General Director
Lindiwe Sephomolo, Chief Executive Officer
Juan E. Pardinas, General Director
Lithuania
Ministry of the Economy
Statistics Lithuania
. . Jose Antonio Torre, Undersecretary for Competitiveness and
Vilija Lapeniene, Director General
Standardization
Gediminas Samuolis, Head, Knowledge Economy and Special
Enrique Perret Erhard, Technical Secretary for
Surveys Statistics Division
. Competitiveness
Ona Grigiene, Deputy Head, Knowledge Economy and
Narciso Suarez, Research Director, Secretary for
Special Surveys Statistics Division
Competitiveness
Luxembourg
Moldova
viii Chamber of Commerce of the Grand Duchy of Luxembourg
Academy of Economic Studies of Moldova (AESM)
François-Xavier Borsi, Attaché, Economic Department
Grigore Belostecinic, Rector
Carlo Thelen, Chief Economist, Member of the Managing
Board Centre for Economic Research (CER)
Christel Chatelain, Attachée, Economic Department Corneliu Gutu, Director
Macedonia, FYR Mongolia
National Entrepreneurship and Competitiveness Council Open Society Forum (OSF)
(NECC) Munkhsoyol Baatarjav, Manager of Economic Policy
Dejan Janevski, Project Coordinator Erdenejargal Perenlei, Executive Director
Zoran Stavreski, President of the Managing Board
Montenegro
Saso Trajkoski, Executive Director
Institute for Strategic Studies and Prognoses (ISSP)
Madagascar Maja Drakic, Project Manager
Centre of Economic Studies, University of Antananarivo Petar Ivanovic, Chief Executive Officer
Ravelomanana Mamy Raoul, Director Veselin Vukotic, President
Razato Rarijaona Simon, Executive Secretary
Morocco
Malawi Université Hassan II, LASAARE
Malawi Confederation of Chambers of Commerce and Fouzi Mourji, Professor of Economics
Industry General Confederation of Moroccan Entreprise (CGEM)
Hope Chavula, Public Private Dialogue Manager Mounir Ferram, Delegate Director
Chancellor L. Kaferapanjira, Chief Executive Officer
Mozambique
Malaysia EconPolicy Research Group, Lda.
Institute of Strategic and International Studies (ISIS) Peter Coughlin, Director
Mahani Zainal Abidin, Chief Executive Donaldo Miguel Soares, Researcher
Steven C.M. Wong, Senior Director, Economics Ema Marta Soares, Assistant
Malaysia Productivity Corporation (MPC)
Namibia
Mohd Razali Hussain, Director General
Institute for Public Policy Research (IPPR)
Lee Saw Hoon, Senior Director
Graham Hopwood, Executive Director
Mali
Nepal
Groupe de Recherche en Economie Appliquée et Théorique
Centre for Economic Development and Administration
(GREAT)
(CEDA)
Massa Coulibaly, Coordinator
Ramesh Chandra Chitrakar, Professor and Country
Malta Coordinator
Competitive Malta—Foundation for National Competitiveness Bharat Pokharel, Project Director and Executive Director
Margrith Lutschg-Emmenegger, Vice President Mahendra Raj Joshi, Member
Adrian Said, Chief Coordinator
Caroline Sciortino, Research Coordinator
The Global Competitiveness Report 2011-2012 © 2011 World Economic Forum

10. Partner Institutes
Netherlands Puerto Rico
INSCOPE: Research for Innovation, Erasmus University Puerto Rico 2000, Inc.
Rotterdam Suzette M. Jimenez, President
Frans A. J. Van den Bosch, Professor Francisco Montalvo Fiol, Project Coordinator
Henk W. Volberda, Director and Professor
Qatar
New Zealand Qatari Businessmen Association (QBA)
Business New Zealand Issa Abdul Salam Abu Issa, Secretary-General
Phil O’Reilly, Chief Executive Sarah Abdallah, Deputy General Manager
The New Zealand Institute Romania
Catherine Harland, Project Leader Group of Applied Economics (GEA)
Rick Boven, Director Liviu Voinea, Executive Director
Irina Zgreaban, Program Coordinator
Nigeria
Nigerian Economic Summit Group (NESG) Russian Federation
Frank Nweke Jr., Director General Bauman Innovation & Eurasia Competitiveness Institute
Chris Okpoko, Associate Director, Research Katerina Marandi, Programme Manager
Foluso Phillips, Chairman Alexey Prazdnichnykh, Principal and Managing Director
Norway Stockholm School of Economics, Russia
BI Norwegian School of Management Igor Dukeov, Area Principal
Eskil Goldeng, Researcher Carl F. Fey, Associate Dean of Research
Torger Reve, Professor
Rwanda
Oman Private Sector Federation
The International Research Foundation Roger Munyampenda, Chief Executive Officer
Salem Ben Nasser Al-Ismaily, Chairman Vincent S. Safari, Director, Trade and Policy Advocacy
Public Authority for Investment Promotion and Export Saudi Arabia
Development (PAIPED) National Competitiveness Center (NCC)
Mehdi Ali Juma, Expert for Economic Research Awwad Al-Awwad, President
Khaldon Mahasen, Vice President
Pakistan
Competitiveness Support Fund Senegal
Maryam Jawaid, Communication Specialist Centre de Recherches Economiques Appliquées (CREA),
Imran Khan, Economist University of Dakar
Shahab Khawaja, Chief Executive Officer
ix
Diop Ibrahima Thione, Director
Paraguay Serbia
Centro de Análisis y Difusión de Economia Paraguaya Foundation for the Advancement of Economics (FREN)
(CADEP) Mihail Arandarenko, Chairman of the Board of Directors
Dionisio Borda, Research Member Katarina Bojie, Project Coordinator
Fernando Masi, Director Bojan Ristic, Researcher
María Belén Servín, Research Member
Singapore
Peru Economic Development Board
Centro de Desarrollo Industrial (CDI), Sociedad Nacional Angeline Poh, Director Planning
de Industrias Cheng Wai San, Head, Research & Statistics Unit
Néstor Asto, Project Director
Luis Tenorio, Executive Director Slovak Republic
Business Alliance of Slovakia (PAS)
Philippines Robert Kicina, Executive Director
Makati Business Club (MBC)
Marc P. Opulencia, Deputy Director Slovenia
Michael B. Mundo, Chief Economist Institute for Economic Research
Peter Angelo V. Perfecto, Executive Director Sonja Uršic, Senior Researcher
Peter Stanovnik, Professor
In cooperation with the Management Association of
the Philippines (MAP) University of Ljubljana, Faculty of Economics
Arnold P. Salvador, Executive Director Mateja Drnovšek, Professor
Aleš Vahcic, Professor
Poland
Economic Institute, National Bank of Poland South Africa
Jarosław T. Jakubik, Deputy Director Business Leadership South Africa
Piotr Boguszewski, Advisor Friede Dowie, Director
Michael Spicer, Chief Executive Officer
Portugal
Business Unity South Africa
PROFORUM, Associação para o Desenvolvimento da
Coenraad Bezuidenhout, Executive Director for Economic
Engenharia
Policy
Ilídio António de Ayala Serôdio, Vice President of the Board
Jerry Vilakazi, Chief Executive Officer
of Directors
Fórum de Administradores de Empresas (FAE) Spain
Paulo Bandeira, General Director IESE Business School, International Center for
Pedro do Carmo Costa, Member of the Board of Directors Competitiveness
Esmeralda Dourado, President of the Board of Directors María Luisa Blázquez, Research Associate
Enrique de Diego, Research Assistant
Antoni Subirà, Professor
The Global Competitiveness Report 2011-2012 © 2011 World Economic Forum

11. Partner Institutes
Sri Lanka Tunisia
Institute of Policy Studies Institut Arabe des Chefs d’Entreprises
Ayodya Galappattige, Research Officer Majdi Hassen, Executive Counsellor
Saman Kelegama, Executive Director Chekib Nouira, President
Dilani Hirimuthugodage, Research Officer
Turkey
Swaziland TUSIAD Sabanci University Competitiveness Forum
Federation of Swaziland Employers and Chamber of Izak Atiyas, Director
Commerce Selcuk Karaata, Vice Director
Zodwa Mabuza, Chief Executive Officer
Uganda
Mduduzi Lokotfwako, Research Analyst
Kabano Research and Development Centre
Nyakwesi Motsa, Administration & Finance Manager
Robert Apunyo, Program Manager
Sweden Delius Asiimwe, Executive Director
International University of Entrepreneurship and Technology Catherine Ssekimpi, Research Associate
Niclas Adler, President
Ukraine
Switzerland CASE Ukraine, Center for Social and Economic Research
University of St. Gallen, Executive School of Management, Dmytro Boyarchuk, Executive Director
Technology and Law (ES-HSG) Vladimir Dubrovskiy, Leading Economist
Beat Bechtold, Communications Manager
United Arab Emirates
Rubén Rodriguez Startz, Head of Project
Abu Dhabi Department of Economic Development
Syria H.E. Mohammed Omar Abdulla, Undersecretary
Planning and International Cooperation Commission (PICC)
Dubai Economic Council
Amer Housni Loutfi, Head
H.E. Hani Al Hamly, Secretary General
Syrian Enterprise and Business Centre (SEBC)
Emirates Competitiveness Council
Noha Chuck, Chief Executive Officer
H.E. Abdulla Nasser Lootah, Secretary General
National Competitiveness Observatory (NCO)
Institute for Social and Economic Research (ISER),
Rami Zaatari, Team Leader
Zayed University
Taiwan, China Mouawiya Alawad, Director
Council for Economic Planning and Development, Executive
United Kingdom
Yuan
LSE Enterprise Ltd, London School of Economics and
Liu, Y. Christina, Minister
x Hung, J. B., Director, Economic Research Department
Political Science
Adam Austerfield, Director of Projects
Shieh, Chung Chung, Researcher, Economic Research
Niccolo Durazzi, Project Officer
Department
Robyn Klingler Vidra, Researcher
Tajikistan
Uruguay
The Center for Sociological Research “Zerkalo”
Universidad ORT
Qahramon Baqoev, Director
Isidoro Hodara, Professor
Gulnora Beknazarova, Researcher
Alikul Isoev, Sociologist and Economist Venezuela
CONAPRI—Venezuelan Council for Investment Promotion
Tanzania
Eduardo Porcarelli, Executive Director
Research on Poverty Alleviation (REPOA)
Litsay Guerrero, Economic Affairs and Investor Services Manager
Joseph Semboja, Professor and Executive Director
Lucas Katera, Director, Commissioned Research Vietnam
Cornel Jahari, Researcher, Commissioned Research Central Institute for Economic Management (CIEM)
Department Dinh Van An, President
Phan Thanh Ha, Deputy Director, Department of
Thailand
Macroeconomic Management
Sasin Graduate Institute of Business Administration,
Pham Hoang Ha, Senior Researcher, Department of
Chulalongkorn University
Macroeconomic Management
Pongsak Hoontrakul, Senior Research Fellow
Toemsakdi Krishnamra, Director of Sasin Institute for Development Studies in HCMC (HIDS)
Piyachart Phiromswad, Faculty of Economics Nguyen Trong Hoa, Professor and President
Du Phuoc Tan, Head of Department
Thailand Development Research Institute (TDRI)
Trieu Thanh Son, Researcher
Somchai Jitsuchon, Research Director
Chalongphob Sussangkarn, Distinguished Fellow Yemen
Yos Vajragupta, Senior Researcher Yemeni Businessmen Club YBC
Ahmed Abu Bakr Bazara, Chairman
Timor-Leste
Ali Saeed Mahmoud Al-Azaki, Executive Director
East Timor Development Agency (ETDA)
Margret Arning, Consultant
Jose Barreto Goncalves, Survey Supervisor
Januario Mok, Survey Field Officer Zambia
Palmira Pires, Director Institute of Economic and Social Research (INESOR),
University of Zambia
Trinidad and Tobago
Patricia Funjika, Research Fellow
Arthur Lok Jack Graduate School of Business
Jolly Kamwanga, Senior Research Fellow and Project
Miguel Carillo, Executive Director
Coordinator
Harrylal Nirmala, Director, International Centre
Mubiana Macwan’gi, Director and Professor
The Competitiveness Company
Zimbabwe
Rolph Balgobin, Chairman
Graduate School of Management, University of Zimbabwe
A. M. Hawkins, Professor
The Global Competitiveness Report 2011-2012 © 2011 World Economic Forum

12. Partner Institutes
Belize, Bolivia, Costa Rica, Dominican Republic, Ecuador,
El Salvador, Honduras, Nicaragua, Panama
INCAE Business School, Latin American Center for
Competitiveness and Sustainable Development (CLACDS)
Arturo Condo, Rector
Lawrence Pratt, Director, CLACDS
Marlene de Estrella, Director of External Relations
Víctor Umaña, Researcher and Project Manager, CLACDS
Latvia, Lithuania
Stockholm School of Economics in Riga
Karlis Kreslins, Executive MBA Programme Director
Anders Paalzow, Rector
xi
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13. The Global Competitiveness Report 2011-2012 © 2011 World Economic Forum

14. Preface
Preface
KLAUS SCHWAB, Executive Chairman, World Economic Forum
ROBERT GREENHILL, Chief Business Officer, World Economic Forum
The Global Competitiveness Report 2011–2012 comes out “quality growth” in its various activities. In this context,
amid multiple challenges to the global economy. After a the Forum’s Centre for Global Competitiveness and
number of difficult years, a recovery from the economic Performance has begun to explore which factors are
crisis is tentatively emerging, although it has been very necessary to ensure that national competitiveness
unequally distributed: much of the developing world is remains sustainable over the longer term. To this end,
still seeing relatively strong growth, despite some risk of Chapter 1.2 of this Report presents our preliminary
overheating, while most advanced economies continue thoughts on how to understand and measure quality
to experience sluggish recovery, persistent unemploy- growth through a competitiveness lens by defining
ment, and financial vulnerability, with no clear horizon sustainable competitiveness in economic, social, and
for improvement. In addition, rising commodity prices environmental terms. Issues of quality growth and
are eroding the purchasing power of consumers and are sustainable competitiveness represent important areas for
likely to slow the pace of recovery. Such uncertainties the World Economic Forum’s research going forward.
are being exacerbated by growing concerns about the This year’s Report features a record number of 142
sustainability of public debt amidst the slow growth of economies, and thus continues to be the most com-
some advanced economies. The damage that would be prehensive assessment of its kind. It contains a detailed
wrought by the first sovereign defaults among advanced profile for each of the economies featured in the study
economies since the 1940s is impossible to gauge, as well as an extensive section of data tables with global xiii
although the mere possibility of this eventuality has rankings covering over 100 indicators. This Report
already hit investor confidence, put the very viability remains the flagship publication within the Forum’s
of the euro into question, and further undermined the Centre for Global Competitiveness and Performance,
US dollar’s value and its place as the world’s preferred which produces a number of research studies that mir-
reserve currency. ror the increased integration and complexity of the
Policymakers are struggling to find ways to manage world economy.
the present economic challenges while preparing their The Global Competitiveness Report 2011–2012 could
economies to perform well in an increasingly complex not have been put together without the thought lead-
global landscape. Given the extensive and necessary ership of Professor Xavier Sala-i-Martin at Columbia
short-term efforts related to addressing the most pressing University, who has provided ongoing intellectual
fiscal concerns, it remains critical for countries to estab- support for our competitiveness research. We are also
lish the fundamentals underpinning economic growth grateful to the members of our Advisory Board on
and development for the longer term. The World Competitiveness and Sustainability, who have provided
Economic Forum has, for more than three decades, their valuable time and knowledge to help us develop
played a facilitating role in this process by providing de- the preliminary framework on sustainability and com-
tailed assessments of the productive potential of nations petitiveness presented in this Report: James Cameron,
worldwide. The Report contributes to the understanding Founder and Vice-Chairman, Climate Change Capital;
of the key factors determining economic growth, helps Dan Esty, Commissioner, Connecticut Department
to explain why some countries are more successful than of Energy and Environmental Protection; Edwin
others in raising income levels and opportunities for J. Feulner Jr, President, The Heritage Foundation;
their respective populations, and offers policymakers and Clément Gignac, Minister of Economic Development,
business leaders an important tool in the formulation of Innovation and Export Trade of Quebec, Canada; Jeni
improved economic policies and institutional reforms. Klugman, Director, Gender and Development, World
The complexity of today’s global economic Bank; Hans-Juergen Matern, Vice-President, Head of
environment has made it more important than ever to Strategic Quality Management, METRO GROUP;
recognize and encourage the qualitative as well as the John McArthur, Chief Executive Officer and Executive
quantitative aspects of growth, integrating such concepts Director, Millennium Promise; Kevin X. Murphy,
as inclusiveness and environmental sustainability to President and Chief Executive Officer, J.E. Austin
provide a fuller picture of what is needed and what Associates; Mari Elka Pangestu, Minister of Trade
works. Indeed, the Forum is focusing increasingly on of Indonesia; Luis Guillermo Plata, Chief Executive
The Global Competitiveness Report 2011-2012 © 2011 World Economic Forum

15. Preface
Officer, The Cornerstone Group; Mark Spelman,
Global Head, Strategy, Accenture; and Simon Zadek,
Senior Visiting Fellow, Global Green Growth Institute
(GGGI).
Appreciation also goes to Jennifer Blanke,
Head of the Centre for Global Competitiveness and
Performance, as well as competitiveness team mem-
bers Beñat Bilbao-Osorio, Ciara Browne, Roberto
Crotti, Margareta Drzeniek Hanouz, Thierry Geiger,
and Satu Kauhanen. We thank FedEx and the Africa
Commission, our partners in this Report, for their sup-
port in this important publication. In addition, this
Report would have not been possible without the com-
mitment and enthusiasm of our network of over 150
Partner Institutes worldwide. The Partner Institutes are
instrumental in carrying out the Executive Opinion
Survey that provides the foundation data of this Report
as well as imparting the results of the Report at the
national level. Finally, we would like to convey our
sincere gratitude to all the business executives around
the world who took the time to participate in our
Executive Opinion Survey.
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16. Part 1
Measuring Competitiveness
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17. The Global Competitiveness Report 2011-2012 © 2011 World Economic Forum

18. 1.1: The Global Competitiveness Index 2011–2012
CHAPTER 1.1
The Global Competitiveness Report 2011–2012 is coming
out at a time of re-emerging uncertainty in the global
The Global Competitiveness economy. At the beginning of the year, worldwide
recovery appeared fairly certain, with economic growth
Index 2011–2012: Setting for 2011 and 2012 projected by the International
Monetary Fund (IMF) at 4.3 percent and 4.5 percent,
the Foundations for Strong respectively. However, the middle of the year saw
uncertainties regarding the future economic outlook
Productivity re-emerge, as growth figures for many economies had
to be adjusted downward and the political wrangling in
XAVIER SALA-I-MARTIN the United States and Europe undermined confidence
BEÑAT BILBAO-OSORIO in the ability of governments to take the necessary steps
JENNIFER BLANKE to restore growth.
Recent developments reinforce the observation
MARGARETA DRZENIEK HANOUZ
that economic growth is unequally distributed and
THIERRY GEIGER
highlight the shift of balance of economic activity. On
World Economic Forum the one hand, emerging markets and developing econo-
mies, particularly in Asia, have seen relatively strong
economic growth—estimated at 6.6 and 6.4 percent for
2011 and 2012, respectively, and attracting increasing
financial flows. On the other hand, the United States,
Japan, and Europe are experiencing slow and deceler-
ating growth with persistent high unemployment and
continued financial vulnerability, particularly in some
European economies. GDP growth rates for advanced
economies in 2011 are expected to remain at levels that, 3
for most countries, are not strong enough to reduce the
unemployment built up during the recession.
In this context, policymakers across all regions are
facing difficult economic management challenges. After
closing the output gap and reducing the excess capacity
generated during the crisis, emerging and developing
countries are benefitting from buoyant internal demand,
although they are now facing inflationary pressures caused
by rising commodity prices. In advanced economies,
the devastating earthquake in Japan and doubts about
the sustainability of public debt in Europe, the United
States, and Japan—issues that could further burden
the still-fragile banking sectors in these countries—are
undermining investor and business confidence and
casting a shadow of uncertainty over the short-term
economic outlook. Particularly worrisome is the situ-
ation in some peripheral economies of the euro zone,
where—in spite of the adoption of recovery plans—
high public deficit and debt levels, coupled with anemic
growth, have led to an increased vulnerability of the
economy and much distress in financial markets, as fears
of default continue to spread. This complex situation in
turn encumbers the fiscal consolidation that will reduce
debt burdens to the more manageable levels necessary
to support longer-term economic performance.
Meeting the economic policy challenges resulting
from this two-speed recovery requires not losing sight
of long-term competitiveness fundamentals amid nu-
merous short-term political pressures in industrialized
and emerging economies alike. Many of the current
difficulties experienced by advanced economies, notably
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19. 1.1: The Global Competitiveness Index 2011–2012
in the peripheral euro zone, are closely related to training, technological progress, macroeconomic stabil-
modest competitiveness performances that limit long- ity, good governance, firm sophistication, and market
term productivity growth. Efforts to stabilize fiscal efficiency, among others. While all of these factors are
positions and reduce debt burdens must therefore be likely to be important for competitiveness and growth,
complemented by competitiveness-enhancing reforms they are not mutually exclusive—two or more of them
aimed at improving the potential for growth in the can be significant at the same time, and in fact that is
medium-to-longer run. In emerging markets, high what has been shown in the economic literature.3
growth rates provide a propitious environment for This open-endedness is captured within the GCI by
enhancing competitiveness through structural reforms including a weighted average of many different compo-
and growth-enhancing investments in order to make nents, each measuring a different aspect of competitive-
economic development more sustainable. Competitive ness. These components are grouped into 12 pillars of
economies have in place elements driving the produc- competitiveness:
tivity enhancements that support high incomes and that,
at the same time, ensure that the mechanisms enabling First pillar: Institutions
solid economic performance going into the future are in The institutional environment is determined by the legal
position. and administrative framework within which individuals,
For more than three decades, the World Economic firms, and governments interact to generate wealth. The
Forum’s annual Global Competitiveness Reports have stud- importance of a sound and fair institutional environ-
ied and benchmarked the many factors underpinning ment became even more apparent during the economic
national competitiveness. From the onset, the goal has crisis and is especially important for solidifying the fragile
been to provide insight and stimulate discussion among recovery given the increasing role played by the state at
all stakeholders on the best strategies and policies to the international level and for the economies of many
overcome the obstacles to improved competitiveness. countries.
In the current challenging economic environment, our The quality of institutions has a strong bearing on
work is a critical reminder of the importance of taking competitiveness and growth.4 It influences investment
4 into account the consequences of our present actions on decisions and the organization of production and plays
future prosperity based on sustained growth. a key role in the ways in which societies distribute the
Since 2005, the World Economic Forum has based its benefits and bear the costs of development strategies
competitiveness analysis on the Global Competitiveness and policies. For example, owners of land, corporate
Index (GCI), a comprehensive tool that measures the shares, or intellectual property are unwilling to invest in
microeconomic and macroeconomic foundations of the improvement and upkeep of their property if their
national competitiveness.1 rights as owners are not protected.5
We define competitiveness as the set of institutions, The role of institutions goes beyond the legal
policies, and factors that determine the level of productivity of a framework. Government attitudes toward markets and
country. The level of productivity, in turn, sets the level freedoms and the efficiency of its operations are also
of prosperity that can be earned by an economy. The very important: excessive bureaucracy and red tape,6
productivity level also determines the rates of return overregulation, corruption, dishonesty in dealing with
obtained by investments in an economy, which in turn public contracts, lack of transparency and trustworthi-
are the fundamental drivers of its growth rates. In other ness, and political dependence of the judicial system
words, a more competitive economy is one that is likely impose significant economic costs to businesses and
to grow faster over time. slow the process of economic development.
The concept of competitiveness thus involves static In addition, the proper management of public
and dynamic components: although the productivity of finances is also critical to ensuring trust in the national
a country determines its ability to sustain a high level of business environment. Indicators capturing the qual-
income, it is also one of the central determinants of its ity of government management of public finances are
returns to investment, which is one of the key factors therefore included here to complement the measures of
explaining an economy’s growth potential. macroeconomic stability captured in pillar 3 below.
Although the economic literature has focused
The 12 pillars of competitiveness mainly on public institutions, private institutions are also
There are many determinants driving productivity and an important element in the process of creating wealth.
competitiveness. Understanding the factors behind this The recent global financial crisis, along with numerous
process has occupied the minds of economists for hun- corporate scandals, have highlighted the relevance of
dreds of years, engendering theories ranging from Adam accounting and reporting standards and transparency for
Smith’s focus on specialization and the division of labor preventing fraud and mismanagement, ensuring good
to neoclassical economists’ emphasis on investment in governance, and maintaining investor and consumer
physical capital and infrastructure,2 and, more recently, confidence. An economy is well served by businesses
to interest in other mechanisms such as education and that are run honestly, where managers abide by strong
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20. 1.1: The Global Competitiveness Index 2011–2012
ethical practices in their dealings with the government, indebtedness on competitiveness, a topic of particular
other firms, and the public at large.7 Private-sector relevance given the growing concerns about the poten-
transparency is indispensable to business, and can be tial sovereign defaults in Europe, Japan, and the United
brought about through the use of standards as well as States, which, if not prevented, could endanger the still-
auditing and accounting practices that ensure access to fragile recovery worldwide.
information in a timely manner.8 It is important to note that this pillar evaluates the
stability of the macroeconomic environment, so it does
Second pillar: Infrastructure not directly take into account the way in which public
Extensive and efficient infrastructure is critical for en- accounts are managed by the government. This quali-
suring the effective functioning of the economy, as it tative dimension is captured in the institutions pillar
is an important factor determining the location of eco- described above.
nomic activity and the kinds of activities or sectors that
can develop in a particular instance. Well-developed Fourth pillar: Health and primary education
infrastructure reduces the effect of distance between re- A healthy workforce is vital to a country’s competi-
gions, integrating the national market and connecting it tiveness and productivity. Workers who are ill cannot
at low cost to markets in other countries and regions. In function to their potential and will be less productive.
addition, the quality and extensiveness of infrastructure Poor health leads to significant costs to business, as sick
networks significantly impact economic growth and workers are often absent or operate at lower levels of
reduce income inequalities and poverty in a variety of efficiency. Investment in the provision of health services
ways.9 A well-developed transport and communications is thus critical for clear economic, as well as moral,
infrastructure network is a prerequisite for the access of considerations.11
less-developed communities to core economic activities In addition to health, this pillar takes into account
and services. the quantity and quality of the basic education received
Effective modes of transport, including quality by the population, which is increasingly important in
roads, railroads, ports, and air transport, enable entre- today’s economy. Basic education increases the effi-
preneurs to get their goods and services to market in a ciency of each individual worker. Moreover, workers 5
secure and timely manner and facilitate the movement who have received little formal education can carry out
of workers to the most suitable jobs. Economies also only simple manual tasks and find it much more dif- dif
depend on electricity supplies that are free of interrup- ficult to adapt to more advanced production processes
tions and shortages so that businesses and factories can and techniques. Lack of basic education can therefore
work unimpeded. Finally, a solid and extensive tele- become a constraint on business development, with
communications network allows for a rapid and free firms finding it difficult to move up the value chain
flow of information, which increases overall economic by producing more sophisticated or value-intensive
efficiency by helping to ensure that businesses can com- products.
municate and decisions are made by economic actors For the longer term, it will be essential to avoid
taking into account all available relevant information. significant reductions in resource allocation to these
critical areas, in spite of the fact that many government
Third pillar: Macroeconomic environment budgets will need to be cut to reduce the fiscal burden
The stability of the macroeconomic environment is built up over the past years.
important for business and, therefore, is important for
the overall competitiveness of a country.10 Although Fifth pillar: Higher education and training
it is certainly true that macroeconomic stability alone Quality higher education and training is crucial for
cannot increase the productivity of a nation, it is also economies that want to move up the value chain
recognized that macroeconomic disarray harms the beyond simple production processes and products.12 In
economy, as we have seen recently. The government particular, today’s globalizing economy requires coun-
cannot provide services efficiently if it has to make tries to nurture pools of well-educated workers who are
high-interest payments on its past debts. Running fiscal able to adapt rapidly to their changing environment and
deficits limits the government’s future ability to react to the evolving needs of the production system. This pillar
business cycles. Firms cannot operate efficiently when measures secondary and tertiary enrollment rates as well
inflation rates are out of hand. In sum, the economy as the quality of education as evaluated by the business
cannot grow in a sustainable manner unless the macro community. The extent of staff training is also taken
environment is stable. Macroeconomic stability has into consideration because of the importance of voca-
captured the attention of the public most recently when tional and continuous on-the-job training—which is
some European countries needed the support of the neglected in many economies—for ensuring a constant
IMF and other euro zone countries to prevent sover- upgrading of workers’ skills.
eign default, as their public debt reached unsustainable
levels. Box 1 discusses the potential impact of high
The Global Competitiveness Report 2011-2012 © 2011 World Economic Forum