THE JOURNAL OF COMMERCE
The World Economic Forum has released its yearly Global Competitiveness Report, which includes a ranking of the world’s best (and worst) nations in terms of infrastructure.
The rankings are based on the WEF’s Executive Opinion Survey, which is a major component of the Global Competitiveness Report. Respondents were asked to rate their nations’ infrastructure on a scale from 1 to 7, with 1 reflecting significant underdevelopment and 7 the most extensive and efficient network.
“Competitiveness” measures how countries create the best economic, social and environmental conditions for economic development, WEF said in a video about the report. One of the 12 vital elements that WEF has identified as contributing to a competitive economy is the quality of a nation’s infrastructure. Other elements, including how a nation’s institutions perform, the macroeconomic environment, technological readiness and capacity to innovate, also contribute to a nation’s productivity and interact with other elements. For example, a nation that has invested in infrastructure has the ability to move its goods and people to where they need to be, in turn contributing to a nation’s potential for innovation.
Leading the rankings on infrastructure were developed nations such as Switzerland, while poorer economies unsurprisingly fared worse. In terms of overall infrastructure, the bottom ranked nations were Myanmar, Guinea and Angola, with the latter coming in 148th out of 148. Our infographic highlights the top performers in several areas, including quality of roads, railroads, ports and airports and more.
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