This chapter has reviewed the main drivers of competitiveness with the dual purpose of restating the long-established factors already captured in the current GCI and presenting the World Economic Forum’s updated thinking in some areas, with special emphasis on innovation, education, and financial markets, in light of the most recent evidence and economic research. This conceptual discussion will serve as a basis for discussion leading to the updated version of the GCI, which will be launched in the next edition of The Global Competitiveness Report.
Importantly, this effort represents work in progress and presents our current thinking on the concepts that underpin the GCI. The World Economic Forum will continue to update and deepen the understanding of those factors that have evolved in terms of their impact on competitiveness. In the coming year, these concepts will continue to be validated and appropriate measures identified to capture both the new and existing drivers of competitiveness.
This review, together with ongoing consultations with experts, is meant to provide a base for the modernization of the GCI methodology to reflect the latest developments in the economic thinking and the latest available indicators for their measurement.