GCI report: What happened to the country which inspired Singapore?

GCI report: What happened to the country which inspired Singapore?

GCI report: What happened to the country which inspired Singapore?

Written by Staff Writer

02 Oct, 2017 | 10:30 pm

The chance to gauge the economy of any country dawned recently as the World Economic Forum published it’s Global Competitiveness Report for 2017–2018

All that matters to us is – where did Sri Lanka rank?

The report has taken 137 countries into consideration. Out of that 137, Sri Lanka has ranked 85th.

The top 3?

  • Switzerland
  • United States of America
  • Singapore

Yes, you read that right. Singapore placed 3rd in the Global Competitiveness Report.

During the 1950’s, the father of Singapore Lee Kuan Yew visited Sri Lanka. He said during the visit that he wants to model Singapore after Sri Lanka.

Decades down the line…, here we are. Singapore has comprehensively outdone Sri Lanka.

How are the countries ranked?

The Global Competitiveness Index tracks the performance of close to 140 countries on 12 pillars of competitiveness.

Below is how Sri Lanka performed in the GCI over the years…;

  • 2003 – 2004: 68th (The first GCI publication)
  • 2010 – 2011: 62nd
  • 2015 – 2016: 68th
  • 2016 – 2017: 71st
  • 2017 – 2018: 85th

So if Sri Lanka is placed 85th for 2017 – 2018, what are the other countries placed above us?

  • Guatemala
  • Butan
  • Siberia
  • Ruwanta

The above are just a few, but they are far ahead of us in the global rankings.

According to the World Business Forum, what are the Most problematic factors for doing business?

  • Inefficient government bureaucracy
  • Poor work ethic in national labor force
  • Policy instability

These are the main issues plaguing the country.

After reading all this we can’t help but wonder….

What has happened to the country which once inspired Lee Kua Yew…?

What has happened to a country which inspired another nation to reach greatness..?

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