Jamaica improves nine places in competitiveness report
Basic requirements is divided into four categories, Jamaica ranks 73rd as it relates to its institutions, 77th for infrastructure, Jamaica’s macroeconomic environment is ranked 112, and surprisingly, Jamaica is ranked 47th in the world as it relates to health and primary education.
As it relates to efficiency enhancers, Jamaica is ranked 78th. It is further broken down into sub-categories: 90th on higher education and training, 61st as it relates to goods market efficiency, 60th for labour market efficiency, 30th for financial market development, 77th for technological readiness and 119 market size.
The report highlights that after almost a decade of strong growth following the global financial crisis, growth rates in the Latin America and the Caribbean region have fallen and some countries’ economies may encounter recessions.