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Jamaica’s ability to compete with other countries on the global market has decreased, according to the annual report by the World Economic Forum.
The report states that although some countries have moved up in the rankings, others are falling behind due largely to excessive red tape and over regulated markets.
It also cites underdeveloped infrastructure and inefficient educational systems as other contributing factors.
Of the 134 countries surveyed, the report has placed Jamaica in the 86th position, down from its previous ranking of 78th.
Trinidad and Tobago, which was ranked 84 last year, dropped to 92 and the Dominica Republic moved from 96 to 98.
The only Caribbean country to have improved on its last rating is Barbados, which also moved up in ranking from 50 to 47, the second highest ranking in the Caribbean after Puerto Rico.
Although Guyana improved from last year’s ranking of 126 to 115 and Suriname coming in at 103, up from a previous 113 they are still among several countries rated at the bottom of the table.
http://go-jamaica.com/news/read_article.php?id=4135
The report states that although some countries have moved up in the rankings, others are falling behind due largely to excessive red tape and over regulated markets.
It also cites underdeveloped infrastructure and inefficient educational systems as other contributing factors.
Of the 134 countries surveyed, the report has placed Jamaica in the 86th position, down from its previous ranking of 78th.
Trinidad and Tobago, which was ranked 84 last year, dropped to 92 and the Dominica Republic moved from 96 to 98.
The only Caribbean country to have improved on its last rating is Barbados, which also moved up in ranking from 50 to 47, the second highest ranking in the Caribbean after Puerto Rico.
Although Guyana improved from last year’s ranking of 126 to 115 and Suriname coming in at 103, up from a previous 113 they are still among several countries rated at the bottom of the table.
http://go-jamaica.com/news/read_article.php?id=4135