{"id":192521,"date":"2021-06-18T16:33:10","date_gmt":"2021-06-18T14:33:10","guid":{"rendered":"https:\/\/mypr.co.za\/?p=103768"},"modified":"2021-06-18T16:33:10","modified_gmt":"2021-06-18T14:33:10","slug":"sa-s-competitiveness-drops-further","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/sa-s-competitiveness-drops-further\/","title":{"rendered":"SA \u2018s competitiveness drops further"},"content":{"rendered":"<div><img decoding=\"async\" src=\"http:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2021\/06\/sa-s-competitiveness-drops-further.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p>SA \u2018s competitiveness drops amid Covid-19 pandemic: South Africa\u2019s international competitiveness ranking has dropped further in 2021 to 62, out of 64 countries rated according to the 2021 World Competitiveness Yearbook (WCY) produced by the Swiss based Institute of Management Development (IMD).<\/p>\n<p>The Institute of Management Development (IMD) \u2018s World Competitiveness Yearbook (WCY) is an annual report that ranks the international competitiveness of 64 selected countries and is recognised internationally as the leading Survey of competitiveness between nations. The rankings are drawn from a combination of hard data and an Executive Opinion Survey. Productivity SA is the information partner institute for the IMD in South Africa.<\/p>\n<p>Productivity SA is a government entity tasked with the promotion of employment and productivity growth within South Africa. The vision of Productivity SA is to lead and inspire a productive and competitive South Africa and its mission is to improve productivity by diagnosing, advising, implementing, monitoring and evaluating solutions aimed at improving South Africa\u2019s sustainable growth, development and employment through increased competitiveness.<\/p>\n<p>According to the Chief Economist at Productivity SA, Dr Leroi Raputsoane, \u201cCovid-19 pandemic has presented countries with new and far reaching challenges for their local economies. Over and above the health crisis wrought by the pandemic, Covid-19 has diminished the ability of countries to facilitate a conducive environment in which business can thrive\u201d.<\/p>\n<p>The Institute of Management Development (IMD) \u2018s World Competitiveness Yearbook (WCY) evaluates each country\u2019s data based on about 346 distinct criteria, which are grouped into 4 factors, where South Africa performed as follows among the 64 selected countries:<\/p>\n<p>\u2022 Economic performance (61st)<br \/>\u2022 Government efficiency (61st)<br \/>\u2022 Business efficiency (58th)<br \/>\u2022 Infrastructure (61st)<\/p>\n<p>The Institute of Management Development (IMD)\u2018s World Competitiveness Yearbook (WCY) shows that the following countries topped the global competitiveness rankings<\/p>\n<p>\u2022 Switzerland (1st)<br \/>\u2022 Sweden (2nd)<br \/>\u2022 Denmark (3rd)<br \/>\u2022 Netherlands (4th)<br \/>\u2022 Singapore (5th)<\/p>\n<p>These countries show common characteristic of consistency performing well across all the competitiveness 4 factors that comprise Economic performance, Government efficiency, Business efficiency and Infrastructure.<\/p>\n<p>The Institute of Management Development (IMD)\u2018s World Competitiveness Yearbook (WCY) further shows that the BRICS countries performed as follows<\/p>\n<p>\u2022 Brazil (57th)<br \/>\u2022 Russia (45th)<br \/>\u2022 India (43rd)<br \/>\u2022 China (20th)<br \/>\u2022 South Africa (62st)<\/p>\n<p>According to the Institute of Management Development (IMD) \u2018s World Competitiveness Yearbook (WCY), the fall in South Africa\u2019s global competitiveness ranking was underpinned by the following challenges<\/p>\n<p>\u2022 Deteriorating headline and youth unemployment<br \/>\u2022 Rising public debt levels amid a shrinking fiscal space<br \/>\u2022 Lack of decisive plans to revive the struggling economy<br \/>\u2022 Ongoing electricity supply problems and rolling blackouts<br \/>\u2022 Slow vaccination rates to fast track post Covid-19 recovery<\/p>\n<p>According to the IMD \u2018s Professor Arturo Bris, \u201cCompetitiveness provides the framework to quantify the outcome of dealing with the challenges, such as, international trade and investment, employment, the openness, political stability, etc. from a country perspective. Ultimately, it allows the IMD to recognise the factors that facilitate prosperity, and this is how the institute expects its rankings to be used and interpreted that competitiveness is both a tool and an objective of economic policy\u201d.<\/p>\n<p><a href=\"http:\/\/mypr.co.za\/contact\/featured\/\">CLICK HERE to submit your press release to MyPR.co.za<\/a>.<\/p>\n<div class=\"entry-pagination pagination\">Pages: <span class=\"post-page-numbers current\"><span class=\"screen-reader-text\">Page <\/span>1<\/span> <a href=\"https:\/\/mypr.co.za\/sa-s-competitiveness-drops-further\/2\/\" class=\"post-page-numbers\"><span class=\"screen-reader-text\">Page <\/span>2<\/a><\/div>\n<p><a href=\"https:\/\/mypr.co.za\">Source: MyPR.co.za<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SA \u2018s competitiveness drops amid Covid-19 pandemic: South Africa\u2019s international competitiveness ranking has dropped further in 2021 to 62, out of 64 countries rated according to the 2021 World Competitiveness Yearbook (WCY) produced by the Swiss based Institute of Management Development (IMD). The Institute of Management Development (IMD) \u2018s World Competitiveness Yearbook (WCY) is an [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":192522,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9021,1],"tags":[3257],"class_list":{"0":"post-192521","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-mypr","8":"category-south-africa","9":"tag-mypr","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2021\/06\/sa-s-competitiveness-drops-further.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/192521","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=192521"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/192521\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media\/192522"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=192521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=192521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=192521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}