Wednesday, September 14, 2011

Taiwan Hangs on to WEF’s Competitiveness Ranking

l  Although its ranking of 13th place remained unchanged from last year, Taiwan received its best score in five years in the Global Competitiveness Report (GCR) 2010-2011, released by the Geneva-based World Economic Forum (WEF) last week.

l  In fact, Taiwan got a score of 5.26 points in this year’s WEF competitiveness report, which was 0.05 points up from last year. Among Asia-Pacific economies, Taiwan was ranked fourth, which was also the same as last year and behind only Singapore, Japan, and Hong Kong.

l  Taiwan received the most recognition of its capacity to innovate, coming in at ninth place among all the economies surveyed. To some Taiwanese businesses, the most encouraging aspect of this year’s GCR was the island's ability to continue outperform South Korea—one of Taiwan's major competitors in trade, product marketing, and technological innovation—for three consecutive years in the annual WEF competitiveness report.

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