South Africa fell three places in its global competitiveness.
Out of 60 countries surveyed, South Africa was placed 53rd in the global business school IMD’s 2013 world competitiveness rankings, Business Day newspaper reported today.
South Africa was the worst performer compared with its Brics counterparts Brazil, Russia, India, and China, it was reported.
It also came only one notch above debt-stricken Greece and languished behind Europe’s laggards, such as Spain and Portugal.
IMD world competitiveness centre director Stephane Garelli told Business Day the country’s decline mirrored worries relating to growth, among others.
“The decline in South Africa’s rankings says that there are a lot of missed opportunities. The growth rate has been disappointing. It is not enough,” said Garelli.
The IMD uses over 300 criteria grouped under four themes. These are economic performance, government efficiency, business efficiency, and infrastructure.
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