BUSINESS

Greece drops one place in global competitiveness index

TAGS: Business, Survey

Greece ranks 87th among the 137 countries included in the World Economic Forum’s 2017-2018 Global Competitiveness Report made available Wednesday.

The country ranked 86th last year and 81st the year before.

The World Economic Forum bases its rankings on a dozen drivers of competitiveness and a survey of business leaders. Greece received an overall score of 4.02, on a scale from 1 to 7.

The most problematic factors for doing business in Greece are the tax rates, the inefficient government bureaucracy, tax regulations, policy inconsistency, government instability, access to financing, and corruption, the reports shows.

Switzerland is the world’s most competitive economy for a ninth straight year, according to the report.

Besides Switzerland, the top 10 remained the same as a year ago, although there was some shuffling of the order. The United States climbed over Singapore into second place, and Hong Kong jumped three places to sixth, leapfrogging Japan in ninth spot.

[Combined reports]

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