Germany is less competitive in international comparison than in the previous year. In the new ranking of the World Economic Forum, the Federal Republic falls from third place to seventh place. Germany is overtaken by Hong Kong, the Netherlands, Switzerland and Japan. Singapore has replaced the US in first place. China is still ranked 28th in the 141 countries surveyed in the Global Competitiveness Report 2019 of the WEF Foundation.
Germany has particular pent-up demand for information technology: with internet connections via fiber-optic cable, Germany is in 72nd place, while mobile broadband connections rank 58th.
In the innovation capacity category, however, Germany remains in the top spot. This concerns the number of registered patents or scientific publications. There are also top marks for macroeconomic stability, which assesses inflation and debt levels. On the question of how well countries are adjusting to digital business models, only the top 20 of the 20 largest economies (G20) are among the top 10: the USA in first place, Germany in ninth place.
In the overall competitiveness index, the first countries are close to each other. Singapore comes in at 84.8 points out of 100, Germany 81.8. The average of all countries is 61 points. In it sees the WEF problems for the future. "The ditch in competitiveness is all the more worrying because the world economy is facing the prospect of a downturn," said the WEF. "The changing geopolitical situation and growing trade tensions are fueling uncertainties and could lead to a slowdown in the economy."
In the final ranks are the Congo, Yemen and Chad. The resource-rich Venezuela slipped 6 places due to the catastrophic economic situation and ends up in 133th place.
The WEF competition report has been in existence since 1979. The WEF assesses more than 100 indicators in terms of competitiveness, for example in the areas of the financial system, infrastructure, education or labor market conditions. It considers data as well as surveys among entrepreneurs.