World Economic Forum: Israel is ranked 19th for competitiveness

The latest report issued last week by the World Economic Forum, on Global Competitiveness, ranks Israel in nineteenth place among 104 countries. Israel advanced in the present report one place higher from its rank of 20th in 2003's report.
 
Three criteria were used by the forum in its report:
- The macroeconomic environment,
- The quality of public institutions which hinder the development process,
- The level of technological readiness and innovation.
 
Finland headed the list for the second year in a row, followed by the US and Sweden. Taiwan was rated in fourth place, followed by Denmark, Norway, Singapore, Switzerland, Japan, and Iceland. The UK was eleventh, followed by Germany, Australia, Canada, United Arab Emirates (the highest-rated Muslim country, in sixteenth place), Austria, and New Zealand. Bahrain was in 28th place, Jordan 35th, Tunisia 42nd, and Egypt 62nd. Iraq and Syria were not ranked. Israel is ahead of many European and South American countries, and almost all of Asian countries.Israel was ranked ahead of Hong Kong (21st place), Belgium and Luxembourg (25-26th respectively), France (27th), and Ireland (30th).