The World Economic Forum announced that Malawi scored 42.44 points out of a 100 on the 2018, on the 2018 Global Competitiveness report. Since 2008-2015, Malawi had lower than 10 points, until 2016 when there was a rapid growth till reaching an all time high of 42.44 points in 2018. Bizmalawi investigated the contrasts between Malawi and its neighboring nations.
Firstly, Zambia is (in 2018) 46.05 points ahead of Malawi, however she had a common low score with Malawi between 2008 and 2015, when there was a remarkable points increase in 2016 also.
Tanzania surpasses the latter mentioned countries, by 47.21 points. The score between 2008 and 2015 is a commonality shared between Zambia and Tanzania.
Zimbabwe stands at 42.61 points, sharing the 2008-2015 score history. On the other hand, Mozambique scored 39.75 points; all time high record, while sharing a score history as all countries mentioned above.
Competitive index is an economic indicator that measures the set of institutions, policies and factors that set the sustainable current and medium-term levels of economic prosperity. Adding to the index, the respective countries have competitive ranks, which are determined by the 12 pillars of competitiveness, namely;
- Institutions
- Infrastructure
- Macroeconomic environment
- Health/Primary education
- Higher education and training
- Goods market efficiency
- Labor market efficiency
- Financial Market efficiency
- Technological readiness
- Market size
- Business sophistication
- Innovation
Hopefully Malawi and the mentioned surrounding countries beat their current records, therefore rising up the ranks to better business and economy.