After the report was presented to the participants and attendees, the prime minister’s economic advisor stressed that improving the rankings isn’t and shouldn’t be the ultimate goal. The UAE retains its #1 position globally in 'Macro-Economic Stability' on the World Economic Forum rankings. © 2020 Enterprise Ventures LLC. Before that, the macroeconomic ranks were based on Jeffrey Sachs's Growth Development Index and the … [Video] Egypt’s entrepreneurial environment in the age of COVID-19: Experts share their thoughts. Business Forward AUC will use the information you provide on this form to be in touch with you and to provide updates and marketing. This is particularly important given that, in the aggregate, T&T accounts for a greater share of regional GD… from 2018 ... 93 Egypt 54.5 +1 +1.0 94 Namibia 54.5 +6 +1.8 2018 Diff. 3 THE 2019 EIGHT INTERNATIONAL Each of these indicators are broken down into several pillars which amount to a total of 12. Out of the 12 pillars, Egypt performed higher than the regional average in Infrastructure and Market Size, scoring 73.1 and 73.6 respectively, while the MENA averages were 70.5 and 69.9 respectively. However, Egypt performed below average on all other pillars, particularly in ICT (40.6), Health (65), Macroeconomic Stability (44.7), and Education & Skills (53.2). It’s a multifactor approach combining business environment, political and social stability, innovation, education and quality of life. It tops the overall ranking in the Arab world. Putting a positive spin on where Egypt performed poorly in the report, Abdel Latif said that these weaknesses and issues should be seen as opportunities for investment and areas to be targeted for improvement. Egypt is also in the bottom five globally when it comes to Inflation Rate (136), one of the sub-indicators for Macroeconomic Stability. Op-ed: Entrepreneurship education to reap the potential harvest of a young population. The analysis is done using a new tool for assessing national economic productivity — Global Competitiveness Index 4.0. The Global Competitiveness Report 2019 | xiii. According to data from the World Economic Forum’s report in 2019, Serbia is ranked 72nd among 141 countries, with a recorded GCI value of 60.9. A given country’s competitiveness indicator is measured out of a figure of 100, with 0 being the worst score and 100 being the best. Egypt had the fourth-highest performance improvement in the World Economic Forum’s Travel and Tourism Competitiveness Index 2019, the World Travel and Tourism Council awarded Egypt the annual “2019 Global Champion Award” for promoting Global Gender Gap Index, 2019, Travel & Tourism Competitiveness Report, Global Information Technology Report, 2016 (discontinued), The Global Enabling Trade Report, LinkedIn membership by field of study and geography, 2017, LinkedIn membership by field of study, 2017, Skills of LinkedIn members, by age and degree specialization, 2017, 15 of the countries are from the Middle East and North Africa (MENA), where Egypt ranks 13 th , ahead of Iran and bottom-ranked Yemen. In July 2018, Egypt’s House of Representatives approved a USD 500 million loan from the World Bank Group’s International Bank for Reconstruction and Development, to go towards the five-year Supporting Egypt Education Reform project, which aims to modernise the public school Part 3 - Comments of Discussant (Part 2/2): Eng. The second aspect was the workforce falling behind on digital skills, which reflects how the Egyptian economy may be overall falling behind in digitalisation. In the Business Dynamics sub-indicator of Growth of Innovative Companies, Egypt enjoys a positive ranking of 29 in the world. We also don’t fare well for trade openness. South Africa (60), Seychelles (78), Botswana (91) and Namibia (94) are in the top 100 out of 141 countries covered by the report. However, the groupings are slightly … Focusing his view on startups, he went on to say that the report’s figures didn’t take into account any of the achievements reached in Egypt’s tech scene. Abdel Latif added that most of the data was also drawn from international indices and statistical data from specialised international bodies and institutions. He shared a conversation he had with Eric Schmidt, the former CEO of Google, years ago at a conference they both attended. 15 of the countries are from the Middle East and North Africa (MENA), where Egypt ranks 13th, ahead of Iran and bottom-ranked Yemen. Ismail said that Schmidt had told him that there was too much focus on traditional and physical infrastructure such as roads and bridges in Egypt. Download free notes PDF and for more on IAS Exam 2021 preparation, follow BYJU’S. Egypt was the best performer in the security and safety index, infrastructure and ports, and natural resources, according to the 2019 World Economic Forum’s Travel and Tourism Competitiveness Report released in September, also topping the MENA region in terms of environmental sustainability, cultural resources and business travel. This score ranks Egypt 94 out of 141 countries surveyed. According to the 2019 World Economic Forum’s Travel and Tourism Competitiveness Report released in September, Egypt moved up nine places to rank 65th overall worldwide. Since Egypt’s GDP per capita and savings rates are low, this doesn’t make the country attractive to investors, she revealed. Copyrights © 2017 The American University in Cairo School of Business • All Rights Reserved. There was an error while trying to send your request. Qatar was ranked 29th globally and second in the Arab world, according to the Global Competitiveness Report 2019, published annually by the World Economic Forum (WEF), in … The country experienced one of the biggest drops from 56/140 in 2018 (60.0 pctl) to 64/141 in 2019 (54.6 pctl). The analysis is done using a new tool for assessing national economic productivity — Global Competitiveness Index 4.0. The IMF raised its expectations for Egypt's GDP growth to reach 3.5% this year, compared to 2% in its June 2020 report, which makes Egypt among the three best economies in the Mediterranean and Central Asia regions. Based on the income levels set out by the World Economic Forum (WEF) in its Global Competitiveness Report. Designed by Indigo. Learn more facts about Global Competitive Report 2019 and India’s rank in Global Competitiveness Index (GCI 4.0). Competitiveness report, economy, digitisations. Regarding the sub-indicators (which are each ranked globally) within each of the pillars, here are some details of some of the ones that stood out: Under the pillar of Institutions, among the sub-indicators Egypt performed well in were the Government’s Response to Change (23), Management of Shareholders’ Equity (28), Property Rights (34), and Renewable Energy Regulation (32). Real GDP growth reached 5.6% in FY19, up from 5.3% in FY18. 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Besides reports on its key events and standalone publications such as the Global Competitiveness Report, the Global Risks Report and the Global Gender Gap Report, the Forum produces landmark titles covering the environment, education, individual industries and technologies. Under Infrastructure, Egypt ranked in the top 20 of the world with regards to Communications with International Shipping Networks (18). It is a global competitiveness gap that is particularly concerning, given the world economy faces the prospect of a downturn. On improving Egypt’s competitiveness, Ismail added that the space for youth and establishing startups needs to be freed up. Ft. Youssef Boutrous Ghaly. Copyrights © 2017 The American University in Cairo School of Business • All Rights Reserved. Egypt ranked 93rd out of 140 countries on the World Economic Forum’s 2019 Global Competitiveness Index, rising one place from last year’s ranking of 94. Egypt ranked 93rd in the Global Competitiveness Index, up from 94th in 2018, and ninth among Arab countries, according to the Global Competitiveness Report for 2019 issued by … Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. That means the Grand Duchy has risen by one place since the 2018 edition. “Namibia has moved up six positions in the Global Competitiveness Report rankings for 2019, from number 100 to 94 now. Tarek Tawfik, Vice Chairman, ECES; Dr. Abla Abdel Latif, Executive Director and Director of Research, … equity and the enhancement of the country’s global competitiveness. Kiangel’s founder and chairman, Dr Khaled Ismail, weighed in with his views on how important the internet and tech sectors are to Egypt’s economy, criticising the report for not showing how much tech start-ups have contributed so far. Each of these 12 pillars are then broken down into a total of 103 sub-indicators. Op-ed: Together we can, through “voluntourism”? World Economic Outlook Report: A long and difficult ascent. One was the quality of vocational and technical education, which he said needs to be improved, pointing out that the stigma around those kinds of education has to be tackled. Being the Egyptian partner of the World Economic Forum, much of the data compiled in the report was gathered by the ECES through questionnaires they sent out to executives of companies in Egypt to fill out. The WEF Global Competitiveness Report 2019 10 years since the global financial crisis, the global economy remains in a cycle of low/flat productivity, says the World Economic Forum. Try your Gmail or Yahoo address if you have issues receiving Enterprise on your corporate email. “Bad internet is a huge obstacle,” he said. The seminar was also attended by Engineer Tarek Tawfik, the ECES’s vice chairman, as well as Dr Abla Abdel Latif, the centre’s executive director and director of research. However, Egypt performed very poorly when it came to Quality of Land Management (111), Social Capital (128), Freedom of the Press (132), and Incidence of Terrorism (136). Egypt is the 93 most competitive nation in the world out of 140 countries ranked in the 2018 edition of the Global Competitiveness Report published by the World Economic Forum. Part 3 - Comments of Discussant (Part 2/2): Eng. With higher levels of internet access and literacy, Ismail continued, more Egyptians would create business opportunities and new industries that would contribute to the economy in a way which would negate improvements to traditional infrastructure. It provides evidence-based analysis on the characteristics of entrepreneurship in Egypt, with the objective of guiding policy decisions, institution building and investments decisions. Home Content Global Competitiveness Report of Entrepreneurship Entrepreneurship is clearly seen as the key to economic growth and job creation around the world. Competitiveness Rank in Egypt averaged 93.46 from 2007 until 2019, reaching an all time high of 119 in 2015 and a record low of 70 in 2010. Egypt’s score for 2019 was 54.5, a 0.9 increase from it’s score of 53.6 in 2018. On the 9th of October, the Egyptian Center for Economic Studies (ECES) held a seminar on Egypt’s ranking in the World Economic Forum’s Global Competitiveness Report 2019. In the Global Competitiveness Report released last week, only Mauritius was ranked 52. How will COVID-19 affect innovation investments? Competitiveness Rank in Egypt averaged 93.46 from 2007 until 2019, reaching an all time high of 119 in … Taking global rankings in each pillar into account, Egypt’s highest ranking of 23 came in market size, while it’s lowest ranking was its macroeconomic stability at 135 out of 141. UAE up 2 ranks. Readings for the burden of government regulation and corruption have improved — areas that were faring worse last year than in previous years. You can download the report in full here (pdf). He explained that by turning things such as recycling into an industry, startups have been able to make many improvements to productivity in areas that the government hasn’t been able to approach for decades. All the Egyptian companies were from across the country’s agricultural, industrial, and service sectors. The Global Competitiveness Report 2019 reveals an average across the 141 economies covered of 61 points. The World Economic Forum has published its new Global Competitiveness Report 2019. The report added that Egypt jumped from 60th to fifth place in tourism promotion and marketing strategy, and moved up nine places to rank 65th worldwide. Out of the 12 sub-indicators under Labour Market, Egypt ranked in the top 50 in four of them, which among them include Flexibility of Determining Wages (14), Cooperation in Employer-Worker Relations (46), and Internal Labour Movement (46). Key figures were invited to discuss the findings, including Dr. Gehan Saleh, who advises the Egyptian prime minister on economic affairs; Mr. Seif Allah Fahmy, the chairman of the Egyptian National Competitiveness Council (ENCC); Engineer Hany Tawfik, the former president of the Egyptian and Arab Private Equity Association; Dr. Ahmed Fikry Abdel Wahab, general manager and CEO of Egyptian German Automotive (EGA); and Dr Khaled Ismail, the founder and chairman of the angel investment fund, Kiangel. Our daily roundup of economics, business and must-read news, delivered to your inbox Sunday-Thursday before 7am Cairo Local Time (5am GMT). Sector spotlight series [Pt 2]: Egypt’s grocery retail industry, The Going Global Series [PT1]: How Azza Fahmy set foot in London and Los Angeles, Subscribe to receive the Business Forward digest with our latest content straight to your inbox, Pillar 3: Information & Communications Technology (ICT) adoption. 2017 the American University in Cairo AUC Avenue – P.O Egyptians with high-speed internet the. However, the former CEO of Google, years ago at a conference they both attended week, only was! Of life middle East and North Africa TTCI 2019 Scores... the region was able to outpace! 2021 preparation, follow BYJU ’ s Global Competitiveness Report 2019 reveals an average global competitiveness report 2019 egypt the country s. Provide on this form to be in touch with you and to provide updates and.. 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