Competitiveness is defined as “the set of institutions, policies, and factors that determine the level of productivity of a country” (World Economic Forum).  Competitiveness can be measured through 12 indicators or areas: (1) Institutions, (2) Infrastructure, (3) Macroeconomic environment, (4) Health and primary education, (5) Higher education and training, (6) Goods market efficiency, (7) Labor market efficiency, (8) Financial market development, (9) Technological readiness, (10) Market size, (11) Business sophistication, and (12) Innovation.

The Global Competitiveness Index is prepared by the World Economic Forum (WEF) to analyzes the economic foundations of nearly all countries in order to evaluate each country’s competitiveness for achieving sustained economic productivity, growth, and prosperity.

Reference

• https://www.weforum.org/agenda/2016/09/what-is-competitiveness/
• http://www3.weforum.org/docs/WEF_TheGlobalCompetitivenessReport2019.pdf