Georgia Ranks 77th place in the World Economic Forum Rating

Georgia ranked 77th place in the World Economic Forum’s rating 2012. 144 countries worldwide are on the list of the WEF rating.

Georgia ranked the 53rd as per infrastructure, 61st – as per institutions, 88th – macro-economic index, 93rd – higher education and training, 82nd – goods market efficiency, 35th – labor market efficiency, 93rd – financial market development, 76th – technological readiness, 99th – market size, 120th – innovation and development sector, 113th – business development , 126th - innovation.

As per the report, among obstacles for doing business in Georgia are the following: funding availability – 15,4 point, irrelevant qualification – 13,4, inflation – 11,1; labor ethics shortage – 10,2; tax regulation – 9.6; political instability – 9,5; irrelevant infrastructure – 7,8; high taxes – 6,0; state instability – 4,1; inefficient state bureaucracy – 3,8; poor public healthcare – 3,3; corruption – 2,2; forbidding labor regulation – 2,1; foreign currency regulation – 1,3, crime and theft – 0,1.

Like in previous year, Switzerland is on the top of the rating. Top ten countries are: Singapore, Finland, Sweden, Holland, Germany, USA, Great Britain, Hong- Kong and Japan.

Interpresnews