Insight Report The Global Competitiveness Report 2015-2016

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Insight ReportThe GlobalCompetitiveness Report2015–2016Klaus Schwab, World Economic Forum

2015 World Economic Forum

Insight ReportThe GlobalCompetitiveness Report2015–2016Professor Klaus SchwabWorld Economic ForumEditorProfessor Xavier Sala-i-MartínColumbia UniversityChief Advisor of The Global Competitiveness Report 2015 World Economic Forum

The Global Competitiveness Report 2015–2016:Full Data Edition is published by the World EconomicForum within the framework of the Global Competitivenessand Risks Team.Professor Klaus SchwabExecutive ChairmanProfessor Xavier Sala-i-MartínChief Advisor of The Global Competitiveness ReportRichard SamansHead of the Centre for the Global Agenda andMember of the Managing BoardJennifer BlankeChief EconomistTHE GLOBAL COMPETITIVENESS AND RISKS TEAMMargareta Drzeniek Hanouz, Head of GlobalCompetitiveness and RisksCiara Browne, Head of PartnershipsRoberto Crotti, Practice Lead,Competitiveness ResearchAttilio Di Battista, Quantitative EconomistCaroline Galvan, Practice Lead,Competitiveness and RisksThierry Geiger, Head of Analytics andQuantitative ResearchTania Gutknecht, Community LeadGaëlle Marti, Project SpecialistStéphanie Verin, Community SpecialistWe thank Hope Steele for her superb editing work andNeil Weinberg for his excellent graphic design and layout.We are grateful to Emmanuelle Engeli for her invaluableresearch assistance.TERMS OF USE AND DISCLAIMERThe Global Competitiveness Report 2015–2016 (herein: “Report”)presents information and data that were compiled and/or collectedby the World Economic Forum (all information and data referredherein as “Data”). Data in this Report is subject to change withoutnotice.The terms country and nation as used in this Report do not inall cases refer to a territorial entity that is a state as understoodby international law and practice. The terms cover well-defined,geographically self-contained economic areas that may not be statesbut for which statistical data are maintained on a separate andindependent basis.Although the World Economic Forum takes every reasonable stepto ensure that the Data thus compiled and/or collected is accuratelyreflected in this Report, the World Economic Forum, its agents,officers, and employees: (i) provide the Data “as is, as available” andwithout warranty of any kind, either express or implied, including,without limitation, warranties of merchantability, fitness for a particularpurpose and non-infringement; (ii) make no representations, expressor implied, as to the accuracy of the Data contained in this Reportor its suitability for any particular purpose; (iii) accept no liability forany use of the said Data or reliance placed on it, in particular, for anyinterpretation, decisions, or actions based on the Data in this Report.Other parties may have ownership interests in some of the Datacontained in this Report. The World Economic Forum in no wayrepresents or warrants that it owns or controls all rights in all Data,and the World Economic Forum will not be liable to users for anyclaims brought against users by third parties in connection with theiruse of any Data.The World Economic Forum, its agents, officers, and employeesdo not endorse or in any respect warrant any third-party productsor services by virtue of any Data, material, or content referred to orincluded in this Report.Users shall not infringe upon the integrity of the Data and in particularshall refrain from any act of alteration of the Data that intentionallyaffects its nature or accuracy. If the Data is materially transformed bythe user, this must be stated explicitly along with the required sourcecitation.For Data compiled by parties other than the World Economic Forum,as specified in the “Technical Notes and Sources” section of thisReport, users must refer to these parties’ terms of use, in particularconcerning the attribution, distribution, and reproduction of the Data.World Economic ForumGenevaCopyright 2015by the World Economic ForumISBN-13: 978-92-95044-99-9ISBN-10: 92-95044-99-1This book is printed on paper suitable for recycling andmade from fully managed and sustained forest sources.Printed and bound in Switzerland.The Report and an interactive data platformare available at www.weforum.org/gcr.When Data for which the World Economic Forum is the source(herein “World Economic Forum”), as specified in the “TechnicalNotes and Sources” section of this Report, is distributed orreproduced, it must appear accurately and be attributed to the WorldEconomic Forum. This source attribution requirement is attached toany use of Data, whether obtained directly from the World EconomicForum or from a user.Users who make World Economic Forum Data available to otherusers through any type of distribution or download environment agreeto make reasonable efforts to communicate and promote complianceby their end users with these terms.Users who intend to sell World Economic Forum Data as part of adatabase or as a standalone product must first obtain the permissionfrom the World Economic Forum (gcp@weforum.org). 2015 World Economic Forum

ContentsPartner InstitutesvPart 2: Country/Economy Profiles87How to Read the Country/Economy Profiles .89PrefacexiiiIndex of Countries/Economies .91Country/Economy Profiles .92by Richard SamansThe Global Competitiveness Index2015–2016 RankingsxvPart 1: Measuring Competitiveness11.1 Reaching Beyond the New Normal:Findings from the Global CompetitivenessIndex 2015–20163Technical Notes and Sources373About the Authors383by Xavier Sala-i-Martín, Roberto Crotti, Attilio Di Battista,Margareta Drzeniek Hanouz, Caroline Galvan, Thierry Geiger,and Gaëlle Marti1.2 Drivers of Long-Run Prosperity:Laying the Foundations for an UpdatedGlobal Competitiveness Index43by Xavier Sala-i-Martín, Roberto Crotti, Attilio Di Battista,Margareta Drzeniek Hanouz, Caroline Galvan, Thierry Geiger,and Gaëlle Marti1.3 The Executive Opinion Survey:The Voice of the Business Community75by Ciara Browne, Attilio Di Battista, Thierry Geiger,and Tania Gutknecht 2015 World Economic ForumThe Global Competitiveness Report 2015–2016 iii

2015 World Economic Forum

Partner InstitutesThe World Economic Forum’s Global Competitivenessand Risks Team is pleased to acknowledge andthank the following organizations as its valued PartnerInstitutes, without which the realization of The GlobalCompetitiveness Report 2015–2016 would not havebeen feasible:AlbaniaInstitute for Contemporary Studies (ISB)Helton Cevi, ResearcherArtan Hoxha, PresidentElira Jorgoni, Researcher DirectorBelgiumVlerick Business SchoolWim Moesen, ProfessorCarine Peeters, ProfessorLeo Sleuwaegen, Professor, Competence CentreEntrepreneurship, Governance and StrategyBeninInstitut de Recherche Empirique en Economie Politique(IREEP)Richard Houessou, Research AssociateRomaric Samson, Research AssistantLéonard Wantchekon, DirectorBhutanBhutan Chamber of Commerce & Industry (BCCI)Tshering Lhaden, NTM Desk OfficerPhub Tshering, Secretary GeneralKesang Wangdi, Deputy Secretary GeneralAlgeriaCentre de Recherche en Economie Appliquée pour leDéveloppement (CREAD)Mohamed Yassine Ferfera, DirectorKhaled Menna, Research FellowBosnia and HerzegovinaMIT Center, School of Economics and Business in Sarajevo,University of SarajevoZlatko Lagumdzija, ProfessorZeljko Sain, Executive DirectorJasmina Selimovic, Assistant DirectorArgentinaIAE—Universidad AustralIgnacio E. Carballo, Research AnalystEduardo Fracchia, Director of Academic Department ofEconomicsArmeniaEconomy and Values Research CenterManuk Hergnyan, ChairmanSevak Hovhannisyan, Board Member and Senior AssociateTamara Karapetyan, Research AssociateAustraliaAustralian Industry GroupColleen Dowling, Senior Research CoordinatorJulie Toth, Chief EconomistInnes Willox, Chief ExecutiveBotswanaBotswana National Productivity CentreLetsogile Batsetswe, Research Consultant and StatisticianBaeti Molake, Executive DirectorPhumzile Thobokwe, Manager, Information and ResearchServices DepartmentBrazilFundação Dom Cabral, Innovation CenterCarlos Arruda, Dean for Business Partnership, Professor ofInnovation and CompetitivenessFernanda Bedê, Research AssistantAna Burcharth, Associate Professor of Innovation andCompetitivenessAustriaAustrian Institute of Economic Research (WIFO)Karl Aiginger, DirectorGerhard Schwarz, Coordinator, Survey DepartmentBulgariaCenter for Economic DevelopmentAdriana Daganova, Expert, International Programmes andProjectsAnelia Damianova, Senior ExpertAzerbaijanAzerbaijan Marketing SocietyFuad Aliyev, Deputy ChairmanAshraf Hajiyev, ConsultantBahrainBahrain Economic Development BoardEman Al Asfoor, Junior Officer, Strategy and MarketIntelligenceKhalid Al Rumaihi, Chief ExecutiveNada Azmi, Manager, Strategy and Market IntelligenceBangladeshCentre for Policy Dialogue (CPD)Khondaker Golam Moazzem, Additional Research DirectorMeherun Nesa, Research AssociateMustafizur Rahman, Executive DirectorBurundiUniversity Research Centre for Economic and SocialDevelopment (CURDES), Faculty of Economics andManagement, University of BurundiDieudonné Gahungu, DirectorLéonidas Ndayizeye, Dean, Faculty of Economics andManagement (FSEG)Gilbert Niyongabo, Head of Department, Faculty ofEconomics and Management (FSEG) 2015 World Economic ForumThe Global Competitiveness Report 2015–2016 v

Partner InstitutesCambodiaNuppun Institute for Economic Research (NUPPUN)Chakriya Heng, Administrative AssistantPisey Khin, DirectorChanthan Tha, Senior Research AssistantCameroonComité de Compétitivité (SELPI)Lucien Sanzouango, Permanent SecretaryGuy Yakana, Expert JuniorSamuel Znoumsi, Expert SeniorCanadaThe Conference Board of CanadaMichael R. Bloom, Vice PresidentJessica Edge, Senior Research AssociateDouglas Watt, DirectorCape VerdeINOVE RESEARCH—Investigação e DesenvolvimentoJúlio Delgado, Partner and Senior ResearcherJerónimo Freire, Project ManagerJosé Mendes, Chief Executive OfficerChadGroupe de Recherches Alternatives et de Monitoring duProjet Pétrole-Tchad-Cameroun (GRAMP-TC)Antoine Doudjidingao, ResearcherGilbert Maoundonodji, DirectorCeline Nénodji Mbaipeur, Programme OfficerChileSchool of Government, Universidad Adolfo IbáñezIgnacio Briones, DeanJulio Guzman, Assistant ProfessorPamela Saavedra, AssistantChinaInstitute of Economic System and ManagementChen Wei, Division Director and ProfessorLi Xiaolin, Research FellowLi Zhenjing, Deputy Director and ProfessorChina Center for Economic Statistics Research, TianjinUniversity of Finance and EconomicsBojuan Zhao, ProfessorLu Dong, ProfessorJian Wang, Associate ProfessorHongye Xiao, ProfessorHuazhang Zheng, Associate ProfessorColombiaNational Planning DepartmentRafael Puyana, Director of Enterprise DevelopmentSara Patricia Rivera, Research AnalystJohn Rodríguez, Project ManagerColombian Private Council on CompetitivenessRosario Córdoba, PresidentMarco Llinás, VicepresidentCôte d’IvoireChambre de Commerce et d’Industrie de Côte d’IvoireAnzoumane Diabakate, Head of CommunicationsJean Rock Kouadio-Kirine, Head of Regional EconomicInformationMarie-Gabrielle Varlet-Boka, Director GeneralCroatiaNational Competitiveness CouncilJadranka Gable, AdvisorKresimir Jurlin, Research Fellowvi The Global Competitiveness Report 2015–2016CyprusEuropean University of Cyprus Research CenterBambos Papageorgiou, Head of Socioeconomic & AcademicResearchBank of Cyprus Public Company LtdMaria Georgiadou, Consultant for Innovation &EntrepreneurshipCharis Pouangare, Director of Corporate Banking and SMECzech RepublicCMC Graduate School of BusinessTomáš Janča, Executive DirectorCzech Management AssociationIvo Gajdoš, Executive DirectorUniversity of Economics, Faculty of International RelationsŠtěpán Müller, DeanDenmarkDanish Technological InstituteHanne Shapiro, Innovation Director, Division for Business andSocietyStig Yding Sørensen, Center Director, Center for Business andPolicy AnalysisEcuadorESPAE Graduate School of Management, Escuela SuperiorPolitécnica del Litoral (ESPOL)Virginia Lasio, DirectorAndrea Samaniego Díaz, Project AssistantSara Wong, ProfessorEgyptThe Egyptian Center for Economic Studies (ECES)Sherif EL-Diwany, Executive DirectorOmneia Helmy, Director of ResearchMaye Ehab, EconomistEstoniaEstonian Institute of Economic Research (EIER)Marje Josing, DirectorEstonian Development FundPirko Konsa, ChairmanEthiopiaAfrican Institute of Management, Development andGovernanceAdugna Girma, Deputy Manager for OperationsTegenge Teka, Senior ExpertFinlandETLA—The Research Institute of the Finnish EconomyMarkku Kotilainen, Research DirectorPetri Rouvinen, Research DirectorVesa Vihriälä, Managing DirectorFranceHEC ParisMarina Kundu, Associate Dean in charge of ExecutiveEducationBernard Ramanantsoa, DeanGabonConfédération Patronale GabonaiseMadeleine E. Berre, PresidentRegis Loussou Kiki, General SecretaryGina Eyama Ondo, Assistant General SecretaryGambia, TheGambia Economic and Social Development Research Institute(GESDRI)Makaireh A. Njie, Director 2015 World Economic Forum

Partner InstitutesGeorgiaBusiness Initiative for Reforms in GeorgiaTamara Janashia, Executive DirectorGiga Makharadze, Founding Member of the Board of DirectorsMamuka Tsereteli, Founding Member of the Board of DirectorsGermanyWHU—Otto Beisheim School of ManagementRalf Fendel, Professor of Monetary EconomicsMichael Frenkel, Professor, Chair of Macroeconomics andInternational EconomicsGhanaAssociation of Ghana Industries (AGI)James Asare-Adjei, PresidentJohn Defor, Senior Policy OfficerSeth Twum-Akwaboah, Chief Executive OfficerIran, Islamic Republic ofIran Chamber of Commerce, Industries, Mines andAgriculture, Department of Economic AffairsHamed Nikraftar, Project ManagerFarnaz Safdari, Research AssociateHoma Sharifi, Research AssociateIrelandSchool of Economics, University College CorkStephen Brosnan, Research AssistantEleanor Doyle, Head of SchoolSean O’Connor, Research AssistantEconomic Analysis and Competitiveness Unit, Department ofJobs, Enterprise and InnovationConor Hand, EconomistGreeceSEV Hellenic Federation of EnterprisesMichael Mitsopoulos, Senior Advisor, Macroeconomic Analysisand European PolicyThanasis Printsipas, Associate Advisor, MacroeconomicAnalysis and European PolicyGuatemalaFUNDESAFelipe Bosch G., President of the Board of DirectorsPablo Schneider, Economic DirectorJuan Carlos Zapata, Chief Executive OfficerIsraelManufacturers Association of Israel (MAI)Shraga Brosh, PresidentDan Catarivas, Foreign Trade & International Relations DirectorAmir Hayek, Managing DirectorItalySDA Bocconi School of ManagementPaola Dubini, Associate Professor, Bocconi UniversityFrancesco A. Saviozzi, SDA Professor, Strategic andEntrepreneurial Management DepartmentJamaicaMona School of Business & Management (MSBM), TheUniversity of the West IndiesPatricia Douce, Project AdministratorWilliam Lawrence, Director, Professional Services UnitDensil Williams, Executive Director and ProfessorGuineaConfédération Patronale des Entreprises de GuinéeKerfalla Camara, Vice-President, Officer in charge ofInternational AffairsMohamed Bénogo Conde, Secretary-GeneralAïssatou Gnouma Traoré, PresidenteJapanKeio UniversityYoko Ishikura, Professor, Graduate School of Media DesignHeizo Takenaka, Director, Global Security Research InstituteJiro Tamura, Professor of Law, Keio UniversityGuyanaInstitute of Development Studies, University of GuyanaKaren Pratt, Research AssociateTessa Pratt, Research AssociateClive Thomas, DirectorHaitiGroup Croissance SAJean Hubert Legendre, Head of Administration and FinanceKesner F. Pharel, President and Chief Executive OfficerHong Kong SARHong Kong General Chamber of CommerceDavid O’Rear, Chief EconomistIn cooperation with Keizai Doyukai (Japan Association ofCorporate Executives)Kiyohiko Ito, Managing Director, Keizai DoyukaiJordanMinistry of Planning and International CooperationImad Fakhouri, MinisterMukhallad Omari, Director of Policies and StrategiesKazakhstanNational Analytical CentreAktoty Aitzhanova, ChairpersonAssylan Akimbayev, Expert-analystSaule Gazizova, Director of DepartmentHungaryKOPINT-TÁRKI Economic Research Ltd.Éva Palócz, Chief Executive OfficerPeter Vakhal, Project ManagerIcelandInnovation Center IcelandKarl Fridriksson, Managing Director of Human Resources andMarketingTinna Jóhannsdóttir, Marketing ManagerSnaebjorn Kristjansson, Operational R&D ManagerIndiaConfederation of Indian Industry (CII)Chandrajit Banerjee, Director GeneralDanish A. Hashim, Director, Economic ResearchMarut Sen Gupta, Deputy Director GeneralKenyaInstitute for Development Studies, University of NairobiPaul Kamau, Senior Research FellowDorothy McCormick, Research ProfessorWinnie Mitullah, Director and Associate Research ProfessorKorea, Republic ofKorea Development InstituteJoohoon Kim, Executive Director, Economic InformationEducation CenterSeungjoo Lee, Research Associate, Public Opinion AnalysisUnitYoungho Jung, Head, Public Opinion Analysis UnitIndonesiaCenter for Industry, SME & Business Competition Studies,University of TrisaktiIda Busnetty, Vice DirectorTulus Tambunan, Director 2015 World Economic ForumThe Global Competitiveness Report 2015–2016 vii

Partner InstitutesMaltaCompetitive MaltaMatthew Castillo, Board SecretaryMargrith Lütschg-Emmenegger, PresidentKuwaitKuwait National Competitiveness CommitteeAdel Al-Husainan, Committee MemberFahed Al-Rashed, Committee ChairmanSayer Al-Sayer, Committee MemberMauritaniaBicom-Service CommercialGuèye Ibrahima, Administrative Financial Director and AnalystOusmane Samb, Technical and Marketing Director andAnalystHabib Sy, Director GénéralKyrgyz RepublicEconomic Policy InstituteLola Abduhametova, Program CoordinatorMarat Tazabekov, ChairmanLao PDREnterprise & Development Consultants Co., LtdLatviaStockholm School of Economics in RigaArnis Sauka, Head of the Centre for Sustainable DevelopmentLebanonBader Young Entrepreneurs ProgramFadi Bizri, Managing DirectorSandrine Hachem, Programs AssociateMauritiusBoard of Investment, MauritiusManaesha Fowdar, Investment Executive, CompetitivenessKhoudijah Maudarbocus-Boodoo, DirectorKen Poonoosamy, Managing DirectorJoint Economic CouncilRaj Makoond, DirectorMexicoCenter for Intellectual Capital and CompetitivenessErika Ruiz Manzur, Executive DirectorRené Villarreal Arrambide, President and Chief ExecutiveOfficerRodrigo David Villarreal Ramos, DirectorInfoProBarrak Dbeiss, Project ManagerJoseph Haddad, Research Operations ManagerLesothoPrivate Sector Foundation of LesothoNthati Mapitsi, ResearcherThabo Qhesi, Chief Executive OfficerKutloano Sello, President, ResearcherInstituto Mexicano para la Competitividad (IMCO)Gabriela Alarcón, Research DirectorJuan E. Pardinas, General DirectorMariana Tapia, ResearcherLithuaniaStatistics LithuaniaOna Grigiene, Deputy Head, Knowledge Economy andSpecial Surveys Statistics DivisionVilija Lapeniene, Director GeneralGediminas Samuolis, Head, Knowledge Economy and SpecialSurveys Statistics DivisionMinistry of the EconomyEmilio Aguilar Barroso, Deputy General Director forCompetitivenessMaría del Rocío Ruiz Chávez, Undersecretary forCompetitiveness and StandardizationFrancisco Javier Anaya Rojas, Technical Secretary forCompetitivenessLuxembourgLuxembourg Chamber of CommerceAnnabelle Dullin, Research AnalystMarc Wagener, Director of Economic Affairs, Member of themanaging boardLynn Zoenen, Research AnalystMoldovaAcademy of Economic Studies of Moldova (AESM)Grigore Belostecinic, RectorInstitute of Economic Research and European Studies (IERES)Corneliu Gutu, DirectorMacedonia, FYRNational Entrepreneurship and Competitiveness Council of theRepublic of Macedonia – NECC of RMDejan Janevski, Project CoordinatorViktorija Mitrikjeska, Administrative OfficerMadagascarCentre of Economic Studies, University of AntananarivoRavelomanana Mamy Raoul, DirectorRazato Rarijaona Simon, Executive SecretaryMalawiMalawi Confederation of Chambers of Commerce andIndustryHope Chavula, Manager, Head, Public Private DialogueChancellor L. Kaferapanjira, Chief Executive OfficerMalaysiaMalaysia Productivity Corporation (MPC)Mohd Razali Hussain, Director GeneralLee Saw Hoon, Senior DirectorMaliGroupe de Recherche en Economie Appliquée et Théorique(GREAT)Massa Coulibaly, Executive Directorviii The Global Competitiveness Report 2015–2016MongoliaOpen Society Forum (OSF), MongoliaOyunbadam Davaakhuu, Manager of Economic PolicyProgramErdenejargal Perenlei, Executive DirectorMontenegroInstitute for Strategic Studies and Prognoses (ISSP)Maja Drakic Grgur, Project ManagerJadranka Kaludjerovic, Program DirectorVeselin Vukotic, PresidentMoroccoConfédération Générale des Entreprises du Maroc (CGEM)Meriem Bensalah Cheqroun, PresidentSi Mohamed Elkhatib, Project Head, Commission Climat desAffaires et Partenariat Public PrivéAhmed Rahhou, President, Commission Climat des Affaireset Partenariat Public PrivéMozambiqueEconPolicy Research Group, Lda.Peter Coughlin, DirectorMwikali Kieti, Project Coordinator 2015 World Economic Forum

Partner InstitutesMyanmarCentre for Economic and Social Development of MyanmarDevelopment Resource Institute (MDRI-CESD)Min Zar Ni Lin, Research AssociateU Myint, ChiefU Zaw Oo, Executive DirectorNamibiaInstitute for Public Policy Research (IPPR)Graham Hopwood, Executive DirectorLeon Kufa, Research AssociateLizaan van Wyk, Research AssociateNepalCentre for Economic Development and Administration (CEDA)Ramesh Chandra Chitrakar, Professor, Country Coordinatorand Project DirectorRam Chandra Dhakal, Executive Director and AdviserMahendra Raj Joshi, MemberNetherlandsINSCOPE: Research for Innovation, Erasmus UniversityRotterdamHenk W. Volberda, Director and ProfessorPortugalPROFORUM, Associação para o Desenvolvimento daEngenhariaIlídio António de Ayala Serôdio, PresidentFórum de Administradores de Empresas (FAE)Paulo Bandeira, General DirectorLuis Filipe Pereira, President of the Board of DirectorsAntonio Ramalho, Member of the Board of DirectorsPuerto RicoPuerto Rico 3000, Inc.Francisco Garcia, PresidentInstituto de Competitividad Internacional, UniversidadInteramericana de Puerto RicoFrancisco Montalvo, Project CoordinatorQatarQatari Businessmen Association (QBA)Sarah Abdallah, Deputy General ManagerIssa Abdul Salam Abu Issa, Secretary-GeneralNew ZealandBusinessNZPhil O’Reilly, Chief ExecutiveSocial and Economic Survey Research Institute (SESRI)Hanan Abdul Rahim, Associate DirectorDarwish Al-Emadi, DirectorRaymond Carasig, Contracts and Grants AdministratorNigeriaNigerian Economic Summit Group (NESG)Feyisayo Fatona-Ajayi, Senior AssociateLaoye Jaiyeola, Chief Executive OfficerOlajiire Onatade-Abati, Research AnalystRomaniaThe Chamber of Commerce and Industry of RomaniaTraian Caramanian, Secretary GeneralIrina Ion, CollaboratorDaniela Paul, World Economic Forum Project CountryCoordinatorNorwayBI Norwegian Business SchoolMarius Kristian Nordkvelde, Research CoordinatorOle Jakob Ramsøy, ResearcherTorger Reve, ProfessorRussian FederationEurasia Competitiveness Institute (ECI)Katerina Marandi, Programme ManagerAlexey Prazdnichnykh, Managing DirectorOmanThe International Research FoundationSalem Ben Nasser Al-Ismaily, ChairmanPublic Authority for Investment Promotion and ExportDevelopment (ITHRAA)Azzan Qassim Al-Busaidi, Director General, Research &E-ServicesPakistanMishal PakistanPuruesh Chaudhary, Director ContentAmir Jahangir, Chief Executive OfficerRwandaCollege of Business and Economics, University of RwandaMurty S. Kopparthi, DeanPrivate Sector Federation (PSF)Benjamin Gasamagera, ChairmanFiona Uwera, Head of Research and Policy AnalysisRwanda Development Board (RDB)Francis Gatare, Chief Executive Officer and Cabinet MemberDaniel Nkubito, Public Private Dialogue Specialist,Aftercare DivisionParaguayCentro de Análisis y Difusión de Economia Paraguaya(CADEP)Dionisio Borda, Research MemberFernando Masi, DirectorMaría Belén Servín, Research MemberSaudi ArabiaAlfaisal UniversityMohammed Kafaji, Assistant ProfessorPeruCentro de Desarrollo Industrial (CDI), Sociedad Nacional deIndustriasNéstor Asto, Associate ConsultantMaria Elena Baraybar, Project AssistantLuis Tenorio, Executive DirectorPhilippinesMakati Business Club (MBC)Anthony Patrick D.P. Chua, Research Programs ManagerIsabel A. Lopa, Deputy Executive DirectorPeter Angelo V. Perfecto, Executive DirectorManagement Association of the Philippines (MAP)Arnold P. Salvador, Executive DirectorPolandDepartment of Financial Stability, National Bank of PolandPiotr Boguszewski, AdvisorJacek Osiński, DirectorNational Competitiveness Center (NCC)Saud bin Khalid Al-Faisal, PresidentKhaldon Zuhdi Mahasen, Managing DirectorSenegalCentre de Recherches Economiques Appliquées (CREA),University of DakarAhmadou Aly Mbaye, DirectorNdiack Fall, Deputy DirectorFatou Gueye, ResearcherSerbiaFoundation for the Advancement of Economics (FREN)Aleksandar Radivojevic, Project CoordinatorSvetozar Tanaskovic, ResearcherJelena Zarkovic Rakic, Director 2015 World Economic ForumThe Global Competitiveness Report 2015–2016 ix

Partner InstitutesTajikistanResearch Center “Zerkalo”Beknazarova Gulnora, ResearcherBakozoda Kahramon, DirectorDushanbieva Sayyokhat, Field ManagerSeychellesPlutus Auditing & Accounting ServicesMarco L. Francis, PartnerSelma Francis, AdministratorSingaporeSingapore Economic Development BoardAnna Chan, Assistant Managing Director, Planning & PolicyCheng Wai San, Director, Research & Statistics UnitTeo Xinyu, Executive, Research & Statistics UnitTanzaniaREPOACornel Jahari, Assistant ResearcherBlandina Kilama, Senior ResearcherDonald Mmari, Director of Research on Growth andDevelopmentSlovak RepublicBusiness Alliance of Slovakia (PAS)Robert Kicina, Executive DirectorThailandChulalongkorn Business School, Chulalongkorn UniversityPasu Decharin, DeanSiri-on Setamanit, Assistant DeanFaculty of International Relations, University of Economics inBratislavaTomas Dudas, ProfessorTrinidad and TobagoArthur Lok Jack Graduate School of BusinessMiguel Carillo, Executive Director and Professor of StrategyNirmala Maharaj, Director, Internationalisation and InstitutionalRelationsRichard A Ramsawak, Deputy Director, Centre of Strategy andCompetitivenessSloveniaInstitute for Economic ResearchPeter Stanovnik, ProfessorSonja Uršic, Senior Research AssistantUniversity of Ljubljana, Faculty of EconomicsMateja Drnovšek, ProfessorKaja Rangus, Teaching AssistantThe University of the West Indies, St. AugustineRolph Balgobin, NGC Distinguished Fellow, Department ofManagement StudiesSouth AfricaBusiness Leadership South AfricaFriede Dowie, General ManagerThero Setiloane, Chief Executive OfficerTunisiaInstitut Arabe des Chefs d’EntreprisesAhmed Bouzguenda, PresidentMajdi Hassen, Executive CounsellorBusiness Unity South AfricaVirginia Dunjwa, Chief Operations OfficerKhanyisile Kweyama, Chief Executive OfficerTrudi McLoughlin, Executive Personal AssistantTurkeyTUSIAD Sabanci University Competitiveness ForumIzak Atiyas, DirectorOzan Bakıs, Project ConsultantSezen Ugurlu, Project SpecialistSpainIESE Business School, International Center forCompetitivenessMaría Luisa Blázquez, Research AssociateAntoni Subirà, ProfessorUgandaKabano Research and Development CentreRobert Apunyo, Program ManagerDelius Asiimwe, Executive DirectorAnna Namboonze, Research AssociateSri LankaInstitute of Policy Studies of Sri Lanka (IPS)Dilani Hirimuthugodage, Research OfficerSahan Jayawardena, Research AssistantSaman Kelegama, Executive DirectorUkraineCASE Ukraine, Center for Social and Economic ResearchDmytro Boyarchuk, Executive DirectorVladimir Dubrovskiy, Leading EconomistSwazilandFederation of Swaziland Employers and Chamber ofCommerceMduduzi Lokotfwako, Coordinator, Trade & CommerceNyakwesi Motsa, Administration & Finance ManagerUnited Arab EmiratesDubai Competitiveness OfficeH.E. Khaled Ibrahim Al kassim, Deputy Director General forExecutive AffairsSwedenInternational University of Entrepreneurship and TechnologyAssociation (IUET)Thomas Andersson, PresidentZayed UniversityMouawiya Al Awad, Director, Institute for Social & EconomicResearchIn cooperation with Deloitte SwedenEmirates Competitiveness CouncilH.E. Abdulla Nasser Lootah, Secretary GeneralSwitzerlandUniversity of St. Gallen, Executive School of Management,Technology and Law (ES-HSG)Rubén Rodriguez Startz, Head of ProjectTobias Trütsch, Communications ManagerTaiwan, ChinaNational Development CouncilChung-Chung Shieh, Researcher, Economic ResearchDepartmentMing-Huei Wu, Director, Economic Development DepartmentShien-Quey Kao, Deputy Ministerx The Global Competitiveness Report 2015–2016United KingdomLSE Enterprise LtdAdam Austerfield, Project DirectorElitsa Garnizova, Project Officer & ResearcherRobyn Klingler-Vidra, Senior ResearcherUruguayUniversidad ORT UruguayBruno Gili, ProfessorIsidoro Hodara, Professor 2015 World Economic Forum

Partner InstitutesVenezuelaCONAPRI—The Venezuelan Council for Investment PromotionLitsay Guerrero, Economic Affairs and Investor ServicesManagerEduardo Porcarelli, Executive DirectorVietnamHo Chi Minh City Institute for Development Studies (HIDS)Nguyen Trong Hoa, Associate Professor and DirectorDu Phuoc Tan, Head of Urban Management StudiesDepartmentTrieu Thanh Son, Deputy Head of Research ManagementDepartmentZambiaInstitute of Economic and Social Research (INESOR),University of ZambiaPatricia Funjika, Research FellowJolly Kamwanga, Senior Research Fellow and ProjectCoordinatorMubiana Macwan’gi, Director and ProfessorZimbabweFulham Economics, HarareA. M. Hawkins, ChairmanBolivia, Costa Rica, Dominican Republic, El Salvador,Honduras, Nicaragua, PanamaINCAE Business School, Latin American Center forCompetitiveness and Sustainable Development (CLACDS)Ronald Arce, ResearcherArturo Condo, Former PresidentVíctor Umaña, Director Ad interim.Liberia and Sierra LeoneFJP Development and Management ConsultantsOmodele R. N. Jones, Chief Executive Of

2015-2016 Rankings Part 1: Measuring Competitiveness 1 1.1 Reaching Beyond the New Normal: 3 Findings from the Global Competitiveness . ESPAE Graduate School of Management, Escuela Superior Politécnica del Litoral (ESPOL) Virginia Lasio, Director Andrea Samaniego Díaz, Project Assistant Sara Wong, Professor