Central America Loses Competitiveness

In the 2019 Global Competitiveness Index, Costa Rica, Panama, Guatemala, El Salvador, and Nicaragua fell back in the ranking, while Honduras registered no changes and the Dominican Republic was the only country that improved.

Wednesday, October 9, 2019

According to the report by the World Economic Forum, during 2019 Costa Rica ranked 62 out of 141 countries. It was followed by Panama at box 66, the Dominican Republic at 78, Guatemala at 98, Honduras at 101, El Salvador at 103 and Nicaragua at 109.

According to the report, Costa Rica fell seven places from the 2018 report, Panama and Guatemala fell two places. In the case of El Salvador, it went from position 98 to 103 and Nicaragua from 104 to 109.

Honduras remained in the same position for the second year and the Dominican Republic was the only one to improve from 82 to 78.

The indicators evaluated by the World Economic Forum are organized in 12 areas: institutions, infrastructure, adoption of technologies, macroeconomic stability, health, skills, product market, labor market, financial system, economy size, business dynamism and innovation capacity.

Although Panama fell in the ranking, Prensa.com explains that "... Part of its strength is linked to the controlled level of inflation, efficiency in the different transport services (port and air), the stability of the banks, treaties related to the environment, connectivity and life expectancy."

Elfinancierocr.com details that Costa Rica "... is in the top 3 of health, skills and products, while in the categories of macro stability, size and business dynamism, Costa Rica ranks in the last positions of the region, in some even below countries such as Venezuela or Nicaragua that are at the bottom of the list."

See report of the World Economic Forum.

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Corruption, insecurity and political instability are the main factors preventing the country from making progress.

This was revealed by the competitiveness ranking report prepared by the World Economic Forum (WEF), in which the country fell three places ranking 111 out of the 148 countries evaluated.

Competitiveness: Leap Forward for Panama

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Global Competitiveness Report 2012-2013: Panama is number one in Central America (40 in the world), followed by Costa Rica (57), Guatemala (83) Honduras (90), El Salvador (101), and Nicaragua (108).

Highlights of the report include advances in the ranks for Panama (9 points) Nicaragua (7 points), Costa Rica (4 points), and Guatemala (1).

Guatemala's Competitiveness According to World Economic Forum

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The WEF 2010-2011 report indicates that Guatemala has become more competitive in the last 12 months.

The Global Competitiveness Report 2010-2011 released by the World Economic Forum (WEF) ranks Guatemala in position 78 this year compared to 80 in 2009-2010.

Crime and theft, corruption, policy instability, inefficient government bureaucracy and inadequate supply of infrastructure were mentioned as being the most problematic factors for doing business in Guatemala.

WEF Global Competitiveness Index 2010-2011

September 2010

The World Economic Forum rankings for Central America are: Panama 53, followed by Costa Rica 56, Guatemala 78, El Salvador 82, Honduras 91 and Nicaragua 112.

Chile (30), Puerto Rico (41) and Barbados (43) are the only three economies from Latin American and the Caribbean with rankings in the top 50.