This year has been a rough one for many developed nations including those in the European Union and the United States, but on the contrary, an interestingly fruitful one for countries identified as still developing such as Brazil, China, India, and, topping the Latin American list, Chile.
As recently reported, Chile’s economy has been showing impressive numbers while out-pacing anticipated growth rates and financial projections. Adding another rung to its well armed ladder of positive economic statistics is the position it holds in the 2010-2011 Global Competitiveness Report, published today, the 9th of September, 2010.
Chile ranks a high number 30 on this list with its Latin American peers both somewhat near, and greatly lagging behind. The next closest Latin American position is occupied by Puerto Rico in 41st place with other Latin American nations logging in at 53 (Panamá), 56 (Costa Rica), and, 58 (Brazil). Chile’s next-door neighbor, Argentina, is ranked at number 87, and is followed much farther down the line by Venezuela, ranked at 122.
Other notable global players such as China, India, and Russia come in at 27, 51, and 63 respectively, with European leaders such Germany ranking in 5th place, Netherlands 8th, and the UK (12) and France (15). Spain fell considerably from 33 to 42 in just one year due to their high level of unemployment, low level of business sophistication, and poor financial market performance.
Switzerland holds the winning position of number one, followed by Sweden and Singapore. This comprehensive ranking is, according to the World Economic Forum, the conductors of the review, compiled using both publicly available data and an Executive Opinion Survey conducted by said Forum along with its network of Partner Institutes complied of leading research institutes and business organizations.