Israel is ranked in 15th place in the world in the list of competitive economies published yesterday by the World Economic Forum based in Geneva, Switzerland. With this ranking, Israel has jumped eight spots ahead after being 23rd place last year.
Israel was outranked by Switzerland, who is considered the most competitive economy in the world, followed by Finland, Sweden, Denmark, Singapore, USA, Japan, Germany, Holland, Britain, Hong Kong, Taiwan, and Iceland. The countries lower than Israel on the rankings are Canada, Austria, France, Australia, Belgium, Ireland, Luxemburg, New Zealand, Korea, Estonia, Malaysia, Chile, Spain, Czech Republic, Tunisia, Barbados, UAE, Slovenia, Portugal, and Thailand.
The ranking is based on nine parameters such as public institutions, infrastructure, macro-economic management, health, education, market efficiency, technological readiness, business innovations, and inventions. In the category dealing with the independence of the judicial system, Israel is ranked third out of 125 countries. Under the category of scientists and engineers, Israel is ranked first in the world. In the category of combined capital, Israel is ranked second, and in the category of technological readiness,
Israel is ranked third.
But not everything is well. In the category of terrorism cost, Israel is ranked 121 out of 125; in the category of organized crime, Israel is in 38th place; in the category of the public’s trust in politicians, Israel is 33rd in the world; in the category of government debt, Israel is ranked 99th, and in the category of internet users, Israel is only 25th in the world.
The preface of the report said that Israel has made a serious leap from 23rd place to 15th place, placing it as one of the most competitive economies of the world. The most significant leap was in technological readiness, where Israel jumped from 20th to third. In the category of macro-economic management, Israel has jumped 17 spots to the 50th place and in the category of market efficiency, Israel jumped seven spots to the 14th place in the world.