Chile fell to the bottom of the global competitiveness rankings

Ranking on Global Competitiveness 2022prepared by the IMD Institute in Switzerland and the University of Chile, revealed this Wednesday that Chile is down one place compared to last year: in the 45lowest in its history.

in spite of that, Still the best rated in Latin America and 3rd on the continent (after the US and Canada) As reported in this study, which measures economic performance, government efficiency, and business and infrastructure efficiency.

Additionally, despite dropping one center, Chile recorded an increase in its score (63.29) for what he obtained in 2021.

The global competitiveness ranking is based on 255 indicators to calculate the ranking: 163 are statistical data obtained from global, regional and local institutions; While 92 qualitative variables were obtained from an annual survey applied to local and international executives and experts.

Within these studied variables, as in the previous report, The country maintains first place in the world in a: central bank policy.

Meanwhile, the leaders of this arrangement were DenmarkAnd the Switzerland and Singapore.

Finally, the study leaves a series of “key challenges” for Chile in 2022:

  • Ensuring that fiscal and monetary policy contributes to reducing inflation towards the target range.
  • Reducing institutional uncertainty, improving public security, and ensuring the rule of law.
  • Reform the social security system to ensure better pensions, on the basis of individual and collective efforts and with broad social agreement.
  • Implement tax reform that increases collection, improves the provision of public goods, and enhances competitiveness.
  • Increasing investment in research, development and innovation by encouraging joint projects between universities and the public and private sectors.
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Check out the full report here.

Aileen Morales

"Beer nerd. Food fanatic. Alcohol scholar. Tv practitioner. Writer. Troublemaker. Falls down a lot."

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