In this year's list of competitiveness of the World Economic Forum (WEF), Montenegro advanced five places and was in the 77th position out of 137 ranked countries. In the WEF Report on Global Competitiveness 2017-2018, which the Mina-business agency had access to, there is one country less than last year, when there were 138. Montenegro, in this year's WEF report, has 4,1 out of a total of seven points, the same as last year. When it comes to innovation, Montenegro took the 91st position, and the 74th place according to the efficiency of the labor market. According to technological readiness, Montenegro took the 48th place, while according to the development of the financial market, it was in the 47th position. According to the macroeconomic environment, Montenegro took the 116th position. Among the countries of the region, Croatia took the 74th place. Switzerland, as the first-ranked, i.e. the most competitive country in the world, maintained its leadership in the ranking this year as well, followed by the United States of America (USA), Singapore, the Netherlands, Germany, Hong Kong, Sweden, Great Britain, Japan and Finland. Of the surrounding countries, Slovenia, Bulgaria, Serbia, Hungary and Albania are recording progress, while Romania and Greece are recording a decline. Croatia is the rest are in the same position. WEF defines competitiveness as a set of institutions, policies and factors that determine the level of productivity of a country. The methodology is based on the analysis of 12 competitiveness factors, which include institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, labor market efficiency, goods market efficiency, technological readiness, financial market, market size, business sophistication and innovation. Competitiveness factors are grouped into three sub-indices - basic factors, efficiency factors and innovation and sophistication factors.
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