A new tool has been developed by the World Economic Forum (WEF) to measure countries’ competitiveness.
Understanding the Framework and its Methodology
The Global Competitiveness Index (GCI) 4.0. Human capital, agility, resilience, and innovation are among the 12 drivers of productivity that are becoming increasingly important as the Fourth Industrial Revolution progresses.
GCI 4.0 uses 98 individual indicators to provide a comprehensive overview of a country’s competitiveness. It was developed to address methodological flaws that had been criticized in previous versions of the GCI.
It is a valuable tool for policymakers and business leaders to assess a country’s competitiveness strengths and weaknesses. To spur economic growth and improve citizens’ standard of living, the GCI 4.0 can guide decisions on investments, trade policies, and other initiatives.
Reports on the GCI 4.0, including the 2019 Global Competitiveness Report, are available for download from the World Economic Forum’s website. These reports are published by the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License and the WEF’s terms of use.
Ultimately, GCI 4.0 is a valuable tool for assessing countries’ competitiveness in the rapidly evolving Fourth Industrial Revolution landscape. In addition to its focus on the most critical drivers of productivity, this book also incorporates a comprehensive methodology, making it a valuable resource for leaders seeking to improve the standard of living and drive economic growth.
By Orlando J. Gutiérrez