BEIRUT: Lebanon’s competitiveness ranking fell by 10 notches this year to 113th place out of 144 countries worldwide, according to the Global Competitiveness Report issued by the World Economic Forum Wednesday. The Bader Young Entrepreneurs Program, a partner institute of the WEF in preparing the report, said in a statement that Lebanon obtained 3.68 marks out of 7, putting the country in 113th place, behind Senegal and ahead of Côte d’Ivoire.
The statement also pointed out that Lebanon is ahead of only three Arab countries, Egypt (119), Mauritania (141) and Yemen (142), and is behind the other Arab countries.
Switzerland came first in the overall ranking of the Global Competitiveness Report for the sixth consecutive year, while Singapore maintained its position in second place, followed by the United States, Finland and Germany.
The results are based on data from the United Nations and other international organizations, as well as the Forum’s surveys of business executives. The Forum ranks a country’s competitiveness according to factors such as its ability to innovate and the quality of its infrastructure.
The United Arab Emirates comes first among the Arab countries, coming in 12th place in the overall ranking, followed by Qatar in the 16th place and Saudi Arabia in 24th.
Lebanon came in 127th place with regard to basic competitiveness pillars, including the Institutions pillar in which Lebanon ranks 139th, and the Infrastructure pillar in which it comes 122nd, while it ranks 143rd in the Macroeconomic Environment pillar. In contrast, Lebanon is the 30th country in the world in terms of Health and Primary Education, its best-ranking pillar.
With regard to Efficiency Enhancers, Lebanon ranks 85th. Furthermore, it comes 67th in Higher Education, 71st in Goods Market Efficiency, 123rd in Labor Market Efficiency, 102nd in Financial Market Development, 86th in Technological Readiness, and 76th in Market Size.
Lebanon also took 101st place in Scientific and Technological Development, 75th place in terms of Business Sophistication, and the 119th in terms of overall Innovation.
Lawmaker Robert Fadel, president of Bader, said Lebanon’s decline “by 10 places is a clear indication of the impact of the political and security situation on the Lebanese economy and on general growth in Lebanon, at all levels.”
“We must join forces to provide an adequate environment for serious work, in order to face the challenges brought forth by the report,” Fadel stressed.