Global competitiveness index 2016-2017

Read The Global Competitiveness Report 2016-2017, which assesses the competitiveness landscape of 138 economies, providing insight into the drivers of their productivity and prosperity.

This World Economic Forum report presents the rankings of the Global Competitiveness Index. It provides a comprehensive picture of the competitiveness landscape — the set of institutions, policies and factors that determine the level of productivity of an economy in countries around the world at different stages of economic development.

Key Canadian findings:

  • Canada ranks 15/138 on the Global Competitiveness Index.
  • The five most problematic factors for doing business in Canada are insufficient capacity to innovate, inefficient government bureaucracy, access to financing, tax rates and tax regulations.
  • Both the United States and Canada outperform the Organisation for Economic Co-operation and Development (OECD) country average overall and on most pillars.
  • Canada outperforms the United States in the quality of institutions, macroeconomic environment, and health and primary education.
  • Canada has improved marginally in all efficiency enhancers, with markets for goods, labour, capital, and human capital remaining among the best-ranked of the OECD countries.
  • Canada’s largest disparities with OECD countries are in business sophistication and innovation.
  • Overall, this year’s report highlights that declining openness is threatening growth and prosperity for many economies. It also notes that monetary stimulus measures such as quantitative easing are not enough to sustain growth and must be accompanied by competitiveness reforms. And finally, it concludes that updated business practices and investment in innovation are now as important as infrastructure, skills and efficient markets.