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Malta works its way up in the 2016 global competitiveness index to reach 40th place

10.10.2016

The Maltese archipelago has improved its ranking in the 2016/2017 World Economic Forum’s global competitiveness index (GCI) and achieved 40th place out of 138 countries. This year’s ranking is up by 8 places, compared with the 2015/2016 GCI.

Malta’s GCI was ranked more positive through 3 main indexes:

  • basic requirements (29th);
  • efficiency enhancers (41st); and
  • innovation factors (41st).

In the “basic requirements” index, Malta ranked 38th for institutions, 40th for infrastructure, 21st for macroeconomic environment and 18th for health and primary education.

In the “efficiency enhancers” index, Malta achieved the following rankings: 38th in higher education and training, 30th in goods market efficiency, 41st in labour market efficiency, 41st in financial market development, 20th in technological readiness, and 126th for market size.

In the “innovation and sophistication” index, Malta reached 40th and 41st place in business sophistication and innovation, respectively.

Other good rankings achieved by Malta are the following: 
  • Strength of auditing and reporting standards: 15
  • Quality of the education system: 19
  • Business impact of rules on FDI: 25
  • Country capacity to attract talent: 21
  • Soundness of banks: 16
  • FDI and technology transfer: 21

The Global Competitiveness Report’s competitiveness ranking is based on the Global Competitiveness Index (GCI), which was introduced 11 years ago by the World Economic Forum (WEF). Competitiveness is defined as the set of institutions, policies, and factors that determine the level of productivity of a nation. GCI scores are calculated by gathering country-level data covering 12 sections called pillars of competitiveness, which together offer a comprehensive picture of a country’s competitiveness.

Click here to see all Malta’s ranking.