Nicaragua’s competitiveness remains stable according to WEF
September 19, 2014
Nicaragua maintained its position in the Global Competitiveness Index 2014-2015 published this month by the World Economic Forum (WEF). Among 144 nations evaluated, the country remains stable in the 99th position.
The WEF highlighted Nicaragua’s security climate for doing business, which “contrasts with the costs associated to insecurity and crime in other countries in the region”. Likewise, the WEF considers the country is maintaining an adequate fiscal balance and is making important advances in terms of health, investment attraction, export promotion, mobile telephone penetration, as well as access to financing.
In the recently published 2014-2015 index, Nicaragua has a competitiveness overall score of 3.82 out of a scale of 7. Also, this year the country saw small improvements in its scores for Infrastructure, Macroeconomic Environment, and Innovation.
This global competitiveness score is based on three large sub-indexes: (1) basic requirements, which represents 60 percent of the total score and considers institutions, infrastructure, macroeconomic environment, and health and primary education; (2) efficiency enhancers, which accounts for 35 percent of the total score and considers higher education and training, goods market efficiency, labor market efficiency, financial market development, technological readiness, and market size; and (3) innovation and sophistication factors, which stands for 5 percent of the total score and considers business sophistication and innovation.
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