Peru rises in competitiveness rankings, but with less government efficiency

This year, Peru ranks 54th out of 63 countries in World Competitiveness Rankingl 2022, developed by the Institute for Management Development (IMD) Switzerland.

The result is an improvement over what was recorded last year when he was in 58th position, which shows that it was possible to move up four positions in the competitiveness rankings.

However, three of the four components assessed performed worse than last year. Topics assessed by IMD: Economic indicatorsgovernment efficiency, business efficiency and infrastructure.

The Governance Effectiveness pillar, which measures the extent to which government policies are adequate to a country’s competitiveness, dropped four spots from 48th to 52nd.

This takes into account factors such as the number of days it takes to open a business, bribery and corruptionamong other topics.

The score in the Business Performance column also declined due to deterioration in talent acquisition and retention, SMEs, labor productivity, use of digital tools and technologies, and auditing and accounting practices.

Another component where we find a low score is Infrastructure, which measures basic infrastructure, technological infrastructure, scientific infrastructure, health and environment, and education.

With the score obtained in evaluating this last pillar, it only surpasses countries such as South Africa, Botswana, Mongolia and Venezuela.

So why did we rise in the rankings? The promotion was associated with a better assessment of “economic indicators”. This was the result of the rebound effect of GDP growth, employment, exports, and so on.

“Therefore, these results for our country are not encouraging, as they indicate stagnation in points and positions,” they point out.

Alone on that pole Peru this is higher than countries in the region such as Colombia, Brazil, Chile, Argentina and Venezuela.

What is this rating for?

World Competitiveness Ranking IMD 2022, together with Centrum PUCP, assesses the many factors that affect the prosperity of 63 countries.

The factors come down not only to comparing GDP and productivity, but also to the well-being of citizens, including education, healthcare, infrastructure, business efficiency and others.

Among the best-placed countries in this ranking, Denmark ranked first, followed by Switzerland, Singapore, Sweden, Hong Kong, the Netherlands, Taiwan and Finland.