Chile: The Most Competitive Nation in Latin America

Chile was again ranked as the most competitive nation in the region, according to The 2005-2006 Global Competitiveness Report issued by the World Economic Forum (WEF) in April. Augusto López Claros, chief economist at the WEF, stated that Chile confirms its superior economic behavior in the region.

By ranking 27th among 117 nations, it not only surpassed all Latin American countries, but was also placed ahead of 13 of the 25 nations in the European Union. According to the WEF, the very wide gap -27 places that separates Chile’s position from the region’s next best performer (Argentina, 54) –is a characteristic not seen in any other region of the world”.

“Chile continues not only to benefit from extraordinarily competent macroeconomic administration but also to work in an institutional environment characterized by transparency, openness, and predictability,” concluded López Claros.