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

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