Long way to competitiveness
Greece still has a long way to go to before it strengthens its competitiveness and climbs the world rankings, leaving the low positions it has been in for years.
Whether assessed through the World Bank’s Doing Business survey – redesigned and republished this fall for the first time in four years – or through the Lausanne-based International Institute for Management Development (IMD), the conclusion has remained the same: lagging in a number of key indicators, resulting in a low ranking and significant costs becoming immediately apparent through the limited attraction of foreign direct investment in sectors with great need, such as manufacturing or the primary sector.
Why should Greece rank at the bottom? Inflation, demographics, a lack of skilled labor partly due to the brain drain, high energy costs, high bureaucracy, especially with regard to entrepreneurship, and serious problems in the administration of justice are some of the reasons reflected in measurements.
Imprinting improvement in annual measurement reports is now considered extremely critical, as the findings are taken into account by investors deciding on their next business moves.
