Turkey climbs up to 43rd spot in Global Competitiveness Index

Turkey leaps ahead in the global competitiveness ranking

Improving macroeconomic stability and increasing accessibility of the financial sector catapulted Turkey’s rank by 16 places in this year’s Global Competitiveness Index, securing the 43rd spot in the 144-country survey prepared by the World Economic Forum.

Turkey surpassed world’s leading emerging economies, the BRIC countries (Brazil, Russia, India, and China), with the exception of China, and positioned itself as a highly competitive economy on a solid macroeconomic footing.

As the main reason of this huge jump upward, the report points to Turkey’s vibrant business sector which derives important efficiency gains from its large domestic market (ranked 15th), intense local competition (16th) and developed infrastructure (51st).

The country ranked 59th in the previous report, consisting of 142 countries, and 61st in the 139-country report covering 2010-2011.

12.09.2012
SOURCE: DUNYA.COM