8 Sep 2011

Canada’s economic competitiveness slips

Canada suffered a bit of a setback recently, as a new report from the Conference Board of Canada indicates the country fell two spots to 12th overall in global competitiveness rankings.

The rankings are based upon the responses from 14,000 business leaders in 142 countries and their assessment of how business friendly the variety of economies were.

While Canada's competitiveness score this year mirrored previous years', other nations showed marked improvement, particularly developing nations.

"Canada should not be satisfied with its 12th place ranking," said Michael Bloom, vice president of organizational effectiveness and learning at the Conference Board. "Businesses continue to underperform in using our peoples' skills and knowledge to generate new or improved products, processes or services."

Canada's areas of strength included its health systems, labor market and primary education system.

For the third-straight year, Switzerland had the highest competitiveness ranking. Other leading nations were Singapore, Finland Sweden and the United States.

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