The report and any opinions expressed in this publication are the sole responsibility of the authors. Finally, we thank the 160 Partner Institutes, which help administer the Executive Opinion Survey, the results of which provide invaluable data for the GCI 4.0 and other benchmarks. With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. In Depth: Should countries pursue openness? While sequencing is dependent on the priority of each economy, the index contends that economies need to be holistic in their approach to competitiveness rather than focusing on a particular factor alone. Cookie Notice. With productivity the most important determinant of long-term growth and income, the new Global Competitiveness Index 4.0 featured in this report sheds light on a newly emerging set of factors critical for productivity in the Fourth Industrial Revolution (4IR) and provides a tool for assessing them. In this context, the World Economic Forum is introducing the new Global Competitiveness Index 4.0, a much-needed economic compass, building on 40 years of experience in benchmarking the drivers of long-term competitiveness. The report titled, ‘The Global Urban Competitiveness Report 2017-2018: House Prices, Changing the City World,’ assesses urban competitiveness of 1,038 cities on a global scale. In essence, the index offers each economy a level playing field to define its path to growth. Copy link Link copied. With the Fourth Industrial Revolution (4IR), humanity has entered a new phase. I want to express my gratitude to the core project team involved in the production of this report: Thierry Geiger, Roberto Crotti, Sophie Brown and Jean François Trinh Tan. Yet it also threatens a new divergence and polarization within and between economies and societies. Each country should aim to maximize its score on each indicator, and the score indicates its current progress against the frontier as well as its remaining distance. We hope it will also serve as a call to action to engage in the long-term, holistic, agile and far-sighted leadership required to build the competitive economies of the future, lift living standards and provide opportunities for all members of society. The term competitiveness is defined as the ability to face competition and to be successful while facing international competition. Downloadable! Site: Follow: Facebook; Twitter; Rss; The Global Competitiveness Report 2018 | iii Preface v by Klaus Schwab Summary of Key Findings vii At a Glance: The Global Competitiveness Index 4.0 2018 Rankings xi Introduction: A New Economic Compass for the Fourth Industrial Revolution 1 Chapter 1: Global Findings 5 Chapter 2: Regional and Country Analysis 23 According to the report, the real estate and housing markets have great impacts on urban competitiveness by way of housing prices, mobility of labor and goods, and attractiveness in terms of skills and human capital. The Global Competitiveness Report 2014–2015 is being laun-ched at a time when the global economy seems to be finally leaving behind the worst and longest-lasting financial and economic crisis of the last 80 years. Read Now; More from the Author. This year also marks the tenth anniversary of the beginning of the global financial crisis, which has had social and economic consequences of a magnitude unprecedented in recent generations. In fact, the global average score of 60 suggests that many economies have yet to implement the measures that would enhance their long-term growth and resilience and broaden opportunities for their populations. Data in this Report is subject to change without notice. Advocates of the debt-trap theory often cite the example of Sri Lanka, which surrendered a strategic port to Beijing in lieu of paying its debts. (2019) Global Urban Sustainable Competitiveness Report 2017–2018. It calls for better use of technology for economic leapfrogging—but also cautions that this is only possible as part of a holistic approach with other factors of competitiveness. Data: The data were collected from The Global Competitiveness Report 2015-2016. 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