Mauritius tops the list as most competitive country in the Sub-Saharan Africa region for the fourth consecutive year, according to the Global Competitiveness Report 2017/2018, published by the World Economic Forum on 27th September 2017. Mauritius ranks 45th out of 137 countries worldwide, maintaining the same place as last year while slightly improving its overall score.

The Global Competitiveness Report assesses the competitive landscape of participating countries, and provides an insight into the drivers of their long-term growth and prosperity. The assessment is made on 12 pillars of the Global Competitiveness Index (GCI), namely institutions, infrastructure, macroeconomic environment, health & primary education, higher education & training, goods market efficiency, labour market efficiency, financial market development, technological preparedness, market size, business sophistication and innovation. Each pillar is based on three spheres namely basic requirements, efficiency enhancers and innovation factors of competitiveness.

The report recognizes, among others, the development of the Mauritius’ financial market, reflected by significant improvements in the sector. These include a sound banking sector, well-regulated securities exchanges, venture capital, and other financial products available. Also highlighted is an increase in companies’ spending on R&D, which enhances innovative capacity and the protection of intellectual property right.

Finally, the report classifies Mauritius as part of a group of 20 countries that are transitioning from Stage 2 to Stage 3, that is, countries that are shifting from an efficiency-driven economy to an Innovation-driven one.

The full report can be accessed here