Nº 3 advantage
A competitive country
Chile obtained good scores for government efficiency and economic performance, putting it in top position within Latin America.
Wednesday, July 29, 2009
Chile has a consolidated position as Latin America’s most competitive economy. This is mainly due to its sustained economic growth and openness to trade which have set it apart internationally as a free and dynamic market. Its performance is reflected in the rankings of institutions that monitor countries’ competitiveness.
In the 2012 World Competitiveness Yearbook published by the Institute for Management Development (IMD), Chile took 28th place out of 59 economies, maintaining its leadership within Latin America, due to the strength of foreign investment, the country’s public finance and its labor market. As a result, it is seen as an attractive place for producing goods and services.
Chile obtained its best scores for government efficiency and economic performance, putting it in top position within Latin America and a high 18th position among economies with less than 20 million inhabitants.
In the Global Competitiveness Index 2011-2012, calculated by the World Economic Forum (WEF), Chile obtained 4.70 points. As a result, it took 31st place out of the 142 economies, maintaining a stable position with respect to earlier versions of the Index and once again emerging as the most competitive country in Latin America and the Caribbean.