Economic Development Indices Questions
The GCI, or Global Competitiveness Index, is calculated by the World Economic Forum (WEF) based on a combination of quantitative and qualitative data. It measures the competitiveness of countries and their ability to achieve sustained economic growth. The GCI is calculated using 12 pillars of competitiveness, including institutions, infrastructure, macroeconomic stability, health and primary education, higher education and training, goods market efficiency, labor market efficiency, financial market development, technological readiness, market size, business sophistication, and innovation. These pillars are assessed through various indicators and surveys, and the scores are then aggregated to determine a country's overall competitiveness ranking.