The edition of the "World Competitiveness Ranking" of 2019 places Spain in the 36th position of a total of 63 economies according to its competitiveness. This relative position positions us below half of the ranking of the countries analyzed and requires that our economic policy takes as a priority the improvement of competitiveness.
The report highlights that business efficiency is the aspect that is improving the competitiveness of the Spanish economy in the last year. On the contrary, efficiency in the public sector is the indicator that has deteriorated the most in this year, according to this ranking.
From a structural and long-term perspective, the most negative considerations about Spain in the report refer to the labor market, which places it in 47 out of 63 countries, and to fiscal policy, ranked 45 out of 63 countries.
On the contrary, the most attractive factors of the Spanish economy are the availability of reliable infrastructures and the high level of training of skilled labor. The current dynamism of the economy and the open and positive attitudes of citizens are also considered favorable.
The results of this report highlight some of the main structural weaknesses of the Spanish economy that affect its competitiveness and limit its growth in the medium and long term. The report is very useful to identify the main challenges for the competitiveness of the Spanish economy and to undertake pending structural reforms.