The forum introduced the Global Competitiveness Report this week, embracing a methodology for measuring validity by adding indices that represent ecosystems and understanding. To provide a comparison using the methodology, the WEF has granted a standing known as the backcasting, in which Pakistan has fallen and is rated compared to 107 in 2018.
Financial specialists say the methodology was in a position to catch the company dynamism and innovation capacity of Pakistan and aided the nation. About the 12 Pillars of Competitiveness, one of 141 nations, Pakistan positions at 107th on associations, infrastructure (105), ICT adoption (131), stability (116), wellness (115), abilities (125), product market (125), labor market (120), fiscal strategy (99), market dimensions (29), business dynamism (52) and innovation ability (79).
The character of competitiveness in a world that’s becoming increasingly changed by electronic technologies is currently developing a brand new set of challenges for both companies and governments, which operate the danger of getting a negative effect on productivity and growth.
One of the South Asian countries, India is together with Sri Lanka 84 and Bangladesh in 105 and Nepal in 108. The 2019 report utilizes a methodology aimed to capture the dynamics of the market from the Fourth Industrial Revolution. These include openness culture, idea generation, and endurance. The tool maps 141 economies’ validity landscape through 98 indicators.