Chile is the most competitive country in Latin America

The World Economic Forum (WEF) has ranked Chile in the 23rd place in its competitiveness ranking, remaining the leader among Latin American countries. The annual study was undertaken in 117 nations to determine the 2005 Growth Competitiveness Index (GCI).

According to the report, Chile continues to benefit from good macroeconomic policies and from the solidity of its public institutions. The efficiency of the financial markets and the progress Chile has made in areas such as transparency, health, and basic education, were also highlighted.

Among the pending tasks that Chile has to focus on in order to continue increasing its competitiveness are the improvement of higher education, better training at work, and innovation and technology.

The GCI measures the technological level of the country, the quality of public institutions, and the macroeconomic conditions. In the general ranking, Finland remains the most competitive nation in the world for the third consecutive year, followed by the United States, Sweden, Denmark, Taiwan, and Singapore.