WEF explains why South Africa shot up 7 places in its competitiveness ranking

The World Economic Forum released its Global Competitiveness Report 2015-16 on Wednesday.

South Africa climbed seven places.

It is now in the 49th position(out of 140 economies), landing it in the top 50 once more.

The Money Show’s Bruce Whitfield interviewed Caroline Galvan, Economist for Global Competitiveness and Risks at the World Economic Forum.

Scroll down for quotes from the audio below.

South Africa’s labour market efficiency improved from a low base.

Caroline Galvan, Economist for Global Competitiveness and Risks at the World Economic Forum

Education has improved slightly. The signs are encouraging.

Caroline Galvan, Economist for Global Competitiveness and Risks at the World Economic Forum

We look at 12 pillars of competiveness, all which drive long-run growth.

Caroline Galvan, Economist for Global Competitiveness and Risks at the World Economic Forum

Competitiveness means economic resilience.

Caroline Galvan, Economist for Global Competitiveness and Risks at the World Economic Forum

Subscribe to our Business Wrap Newsletter

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
How to delegate (and why you must, whether you like it or not)

How to delegate (and why you must, whether you like it or not)

The Money Show’s Bruce Whitfield interviews Aurik Business Accelerator’s Pavlo Phitidis.

Our investigations conclude is wasn’t us – Dracore on SA’s biggest data breach

Our investigations conclude is wasn’t us – Dracore on SA’s biggest data breach

The Money Show’s Bruce Whitfield interviews Dracore Data Services CEO Chantelle Fraser.

Where to invest? Property vs 'a small business' vs 'an investment fund'...

Where to invest? Property vs 'a small business' vs 'an investment fund'...

The Money Show’s Bruce Whitfield interviews Galileo Capital Personal Financial Advisor Warren Ingram.

Estate agent Aida admits it’s the source of SA’s largest data hack ever

Estate agent Aida admits it’s the source of SA’s largest data hack ever

The Money Show’s Bruce Whitfield interviews Stuff magazine’s Toby Shapshak.

Going to be hard to look the other way - Steven Powell on FBI probing Guptas

Going to be hard to look the other way - Steven Powell on FBI probing Guptas

Bruce Whitfield interviews Peter Hain (Wits Business School) and Steven Powell (Director in Forensics at ENS Africa).

World Economic Forum in Cape Town from 3 to 5 June to reimagine Africa’s Future

World Economic Forum in Cape Town from 3 to 5 June to reimagine Africa’s Future

Ashburton African Equities Fund Manager Paul Clark previews the event, themed as “Then and Now: Reimagining Africa’s Future”.

Popular articles
Sassa cards will be functional beyond expiry date

Sassa cards will be functional beyond expiry date

Sassa says text messages making the rounds asking beneficiaries to come and renew their Sassa cards is a hoax.

Why Sisulu and Dlamini-Zuma aren't suitable Presidential candidates: analyst

Why Sisulu and Dlamini-Zuma aren't suitable Presidential candidates: analyst

ANC branch in the Eastern Cape, Z.R Mahabana, has launched a campaign backing Lindiwe Sisuslu as an ANC presidential candidate.

It's not the end of the road... Top tips to improve your matric

It's not the end of the road... Top tips to improve your matric

"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.

Bylaws, times you may use fireworks

Bylaws, times you may use fireworks

City of Johannesburg has urged residents to respect by-laws and the times set for fireworks to be used.

‘I started my thriving business with R5000 (and made a profit in the 1st month)’

‘I started my thriving business with R5000 (and made a profit in the 1st month)’

After 3 years there are 3 Nic Harry stores (incl online) that sell 100 000 pairs of socks in over 20 countries around the world.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?