Evaluation of competitiveness by the world economic forum

Abstract

The paper deals with the evaluation of competitiveness on the basis of the results of the Global Competitiveness Report 2013 - 2014 of World Economic Forum (Report). It is based on the fact that a competitive economy is such economy which has a high standard of living, which involves majority of country’s population. Social factors together with environmental are now part of the evaluation criteria of competitiveness. It shows the overall ranking of countries, as the report states. Attention is focused to selected countries - Slovak Republic and Ukraine, which indicates their profile and problematic factors in the area of business environment. According to the WEF, majority of Europe has continued to struggle with financial and structural challenges. Far-reaching actions were taken in Europe to avoid the break up of the euro zone and bring the region onto a more dynamic growth path, mainly through macroeconomic measures and, to some extent, through structural reforms especially in peripheral euro zone countries. Key words: competitiveness, World Economic Forum, business environment, competitiveness assessment indicators.