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Wednesday, September 05, 2012

Global Competitiveness Report 2012-2013 released

On September 5th, 2012, the World Economic Forum (WEF) located in Geneva published its Global Competitiveness Report 2012-2013. As in 2011 Germany is again ranked as number 6 in the overall ranking of 144 countries. The ranking is based on publicly available “hard” data and on the results of a comprehensive Executive Opinion Survey that the WEF performs annually together with a network of partner institutions. Professor Michael Frenkel and Professor Ralf Fendel both from WHU – Otto Beisheim School of Management act as the WEF exclusive partner for Germany.

This year more than 15,000 executives from the examined 144 countries – more than ever before – participated in the survey. The survey questionnaire captures a wide set of indicators which influence the business climate of the economy. The report includes extensive data documentation together with detailed profiles for each country indicating its position in specific sub-rankings. Altogether over 100 individual economic indicators enter these rankings.

Germany’s top position is mainly due to its excellent infrastructure. Germany comes in third in this particular sub-ranking. Furthermore, the German economy is found to have modern production technologies and a very high capacity for innovation. In the respective sub-ranking of “Innovation and Business Sophistication Factors” Germany is ranked as number 4. However, its rigid labor market, the size of government debt and the tax burden impede a “top five” position for Germany. In these respective sub-ranking Germany cannot be found among the top 100 countries of the survey.

The complete report is available at: www.weforum.org/gcr