Evidence of international competitiveness in Romania according to World Economic Forum

Abstract

In recent decades, regarding of the dynamics of globalization, competitiveness is receiving increasing attention and a continuous and well-established concern. Research and studies on the concept of competitiveness focus on various approaches, interpretations, and models over time. When we think of the definition of international competitiveness, we think of the growth prospects of an economy that determines variables such as: quality of life, investment, productivity growth, and so on.

International competitiveness determines a country's ability to compete with other countries, its ability to outdo itself and to ensure for the nation it represents well-being by increasing the quality of life.

The paper aims to analyze the global report on competitiveness and some special insights for Romania in the European context, also to emphasize some of the characteristics of the Romania competitiveness and the level of international competitiveness between 2017-2019 framework and highlight relevant data from World Economic Forum.

WEF provided an extremely comprehensive index for measuring national competitiveness, which captures the microeconomic and macroeconomic elements of productivity. The Global Competitiveness Index (GCI) identifies and determines the factors highlighting the economic growth and human development (WEF, 2019). The GCI published every year by the World Economic Forum promotes a comprehensive picture of the factors that are critical to developing productivity and competitiveness.