iGovTT CEO, Trevor Libert delivers sponsor’s remarks at the launch of WEF’s Global Competitiveness Report. For a second consecutive year, Trinidad and Tobago has placed 89 out of 140 countries in the Global Competitiveness Report. The Index, released on September 30 at the Arthur Lok Jack Graduate School of Business (ALJGSB), shows that the country’s score dropped slightly from 4 to 3.9. iGovTT partnered with the Arthur Lok Jack Graduate School of Business and was one of the sponsors for the release of the report.
Competitiveness is defined as the set of institutions, policies and factors that determine the level of productivity. The level of productivity, in turn, sets the level of prosperity that can be reached by an economy. Since 2005, the World Economic Forum has based its competitiveness analysis on the Global Competitiveness Index (GCI), a framework that measures the microeconomic and macroeconomic foundations of national competitiveness.
The level of productivity in a country is what takes it forward but according to the 2015-2016 Global Competitiveness Report, Trinidad and Tobago has a major problem with the work ethic of the labour force and also with corruption.
Lecturer at the ALJGSB, Dr. Balraj Kistow said these are just two of a list of factors which caused Trinidad and Tobago’s standing to remain unchanged despite losing .06 score points.
Heading the Global Competitiveness Index, for the seventh consecutive year, was Switzerland, followed by Singapore and the USA. Jamaica is the only Caribbean country ahead of Trinidad and Tobago at 86th position. Guyana rounds out the top 3 in the region at position 121.