2024 AI LEADERSHIP SUMMIT HIGHLIGHTS
In the 2009 WYC, Australia maintained its ranking of 7th place of the 57 nations.
Public finance, foreign direct investment, and technological infrastructure are preventing Australia from competing internationally, according to the world's most comprehensive and long-running competitiveness study.
In 2009, Australia maintained its ranking of 7th place of the 57 nations included in the study.
The US has maintained its #1 ranking due to IMD's definition of competitiveness, which accounts for 'soft' factors such as quality of life, environment and knowledge management.
The survey shows the biggest decline in overall performance (measured by largest percentage change) was in the government's financial position, with the budget surplus dropping from 1.6 per cent of GDP to 0.1 per cent of GDP. The Yearbook was also compiled before last week's federal budget.
While Australia's budget position has been one of the strongest in the OECD to date, it ranked 17th of 57 countries covered by the Yearbook.
Figure 1. Australia's Competitiveness Landscape
Source: IMD World Competitiveness Yearbook 2009: Australia Country Profile, p64
Poor technological infrastructure continues to damage Australia's international competitiveness.
Communications technology, mobile phone costs and internet bandwidth speed are noted - for the second year running - as the most significant infrastructure weaknesses.
CEDA published major research on promoting broadband competition in December 2008.
The 2009 Yearbook includes a 'stress test' on competitiveness - an assessment of how countries are likely to fare through the global financial crisis.
Australia is in 8th place, behind Denmark, Singapore, Qatar, Norway, Hong Kong, Switzerland and Sweden. The US and UK are absent from the list of countries likely to fare best through the global financial crisis.
The 'stress test' is based on a combination of: economic outlook for 2009; business and government resilience; and social measures.
1. USA 2. Hong Kong 3. Singapore 4. Switzerland 5. Denmark 6. Sweden 7. Australia 8. Canada 9. Finland 10. Netherlands 11. Norway 12. Luxembourg 13. Germany 14. Qatar 15. New Zealand 16. Austria 17. Japan 18. Malaysia 19. Ireland 20. China Mainland |
21. United Kingdom 22. Belgium 23. Taiwan 24. Israel 25. Chile 26. Thailand 27. Korea 28. France 29. Czech Republic 30. India 31. Lithuania 32. Slovenia 33. Slovak Republic 34. Portugal 35. Estonia 36. Kazakhstan 37. Peru 38. Bulgaria 39. Spain 40. Brazil |
41. Jordan 42. Indonesia 43. Philippines 44. Poland 45. Hungary 46. Mexico 47. Turkey 48. South Africa 49. Russia 50. Italy 51. Colombia 52. Greece 53. Croatia 54. Romania 55. Argentina 56. Ukraine 57. Venezuela |
The 2007 World Competitiveness Yearbook underlines Australia's long-term challenge to economic growth.
Read more International affairs May 29, 2016Business confidence is rising in Australia despite core economic indicators not improving, an international survey has found.
Read more International affairs October 30, 2009Tony Makin argues that Australia's persistent current account deficits are no cause for concern.
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