July 03 20
Economy

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PORTUGAL RISES IN COMPETITIVENESS RANKING

Portugal has risen again in the list of most competitive countries worldwide, according to the ranking compiled by the IMD World Competitiveness Center, which placed Portugal in 37th place, climbing two positions when compared to 2019. Singapore, Denmark and Switzerland, respectively, rule the podium.

The ranking evaluates factors such as economic performance and the efficiency of companies, infrastructures and of the Government. Portugal’s rise reflects a more solid economy, influenced by price inflation, by product export and by tourism revenue – factors that boosted the country’s economy.

Portugal also excelled in the Price category – as it was considered the 30th most competitive country in the world –, followed by the External Commerce category, standing in 31st place, unchanged from last year. Another positive result was the 22nd place obtained under Social Structure and Corporate Legislation, as well as the score for Educational Infrastructures, Health and Environment (24th place). Skilled labour (75.9%), opportunity costs (65.1%) and stability of infrastructures (61.4%) are still the country’s  strongest indices for investment captivation.

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