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Jamaica competitiveness ranking dips

Jamaica, which suffers from high crime and lack of export-led growth, slipped by one spot in competitive rankings, according to the Global Competitiveness Report 2019, published this week by World Economic Forum, or Weforum.

Its ranking moved from 80 from 79. Two years ago, Jamaica led the region as the most competitive country in the Caribbean, but lost further ground this year due to the reinclusion of Barbados at 77 in the ranking, a four-point jump by Dominican Republic to 78, and the slight dip by Trinidad & Tobago to 79.

Singapore once again led the global ranking, snatching the lead from the United States, which took the second spot, followed by Hong Kong, the Netherlands and Switzerland, according to Weforum, a non-aligned think tank. Chad ranked worst in the world, but its African peers, Mauritius at 52 and South Africa at 60, beat select European nations.

It is Jamaica’s second year of decline, following six consecutive years of improvement.

The latest Global Competitiveness Report paints a “gloomy” outlook but signals opportunities for reform-led nations.

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Article from: The Gleaner

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