Close Menu
Money 101
  • Business
  • Lifestyle
  • News
  • Wealth Creation

Newsletter

Get the financial tips, offers and more

What's Hot

Critical Questions About Funeral Cover

September 19, 2024

Mortality Benefits

September 19, 2024

How do You choose a Medical Plan?

October 2, 2023

3 increases in medical rates in 17 months = 27%!

Sponsor: Ubuntu CapitalUbuntu CapitalOctober 2, 2023
Friday, June 13
Facebook X (Twitter) Instagram
Money 101
  • Business
  • Lifestyle
  • News
  • Wealth Creation
Money 101
Home»Biz News»SA slips down rankings in global competitiveness index
Biz News

SA slips down rankings in global competitiveness index

EditorBy EditorOctober 9, 2014Updated:October 5, 2016No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp VKontakte Email
Share
Facebook Twitter LinkedIn Pinterest Email

SOUTH Africa ranks 56th out of 144 countries, according to the World Economic Forum’s 2014/2015 Global Competitiveness Index.

Last year the country’s ranking was 53rd out of 148.

The index looked at 12 “pillars” – institutions, infrastructure, macro-economic environment, health and primary education, higher education and training, goods market efficiency, labour market efficiency, financial market development, technology readiness, market size, business sophistication and innovation.

In higher education and training, South Africa ranked last in the quality of maths and science education. The country was 140th out of 144 for the quality of its education system.

In labour market efficiency, it ranked last in co-operation in labour-employer relations and 143rd out of 144 for hiring and firing practices.

However, in some areas it did well, ranking number one for the strength of its auditing and reporting standards.

In financial markets development, it came first in the regulation of the national securities exchange.

The country scored low rankings in the areas of health and education, especially in the quality of primary education, where it numbered 133rd out of 144; tuberculosis cases (143); business impact of tuberculosis (136); HIV prevalence (140); and the impact of HIV/Aids on business (136).

Professional services firm Grant Thornton said auditing excellence was not enough for foreign investment and South Africa needed to fix its education, health, and labour sectors.

“While it’s heartening that we have managed to retain the top spot worldwide in this area for the past five consecutive years, the… report once again drives home the enormous dichotomy hampering the competitiveness of our nation,” the company’s Johannesburg chief executive, Andrew Hannington, said yesterday.

“These failings discourage foreign direct investment and hinder South Africa’s long-term economic growth and stability,” he added.

Source: [iol]

global competitiveness index World Economic Forum
Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
Previous ArticleThe magnificent march of SA’s malls
Next Article E-COMMERCE: Oldies embrace the Web
Editor

Related Posts

Critical Questions About Funeral Cover

September 19, 2024

Mortality Benefits

September 19, 2024

Razer Partners with Clearbot to Clean Oceans the Smart Way

June 8, 2021

Retirement Annuities Explained

June 7, 2021
Our Picks

Momentum Health Increases 2022

October 28, 2021

What is the Difference Between Compulsory and Discretionary Savings?

June 8, 2021

How am I able to be Tax Compliant?

May 23, 2021

Who may and how do you apply for business rescue?

May 31, 2021

Subscribe to Updates

Get the financial tips, offers and more

Don't Miss
About Us
About Us

Money 101 is your source of Personal, Financial, Business and Lifestyle educational articles which is brought to you by Adarna.

Visit Adarna: Adarna.co.za
Privacy Policy: Click to View

Our Picks

What is the Difference Between Compulsory and Discretionary Savings?

June 8, 2021

Momentum Health Increases 2022

October 28, 2021

Discovery Medical Aid Increases 2022

October 28, 2021
© 2025 Brought to you by Adarna.

Type above and press Enter to search. Press Esc to cancel.