Page 15 - COMPASS - COMPETITIVENESS REPORT 2021 | COUNCIL OF COMPETITIVENESS IN GREECE

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COMPETITIVENESS AND INNOVATION

Competitiveness is a concept of particular importance for countries’ competitiveness on the basis of measuring
a country. To assess Greece’s competitiveness, the indices and evaluating factors such as Environment,
of internationally recognised organisations were used, such Institutions, Infrastructure, Human Capital, Markets
as the World Economic Forum, Institute for Management and Entrepreneurship.
Development, Global Federation of Competitiveness
Councils, the European Commission and the World Bank. At the same time, organisations whose indices have
Based on their weight and the areas they scrutinise, been used as supplementary to this analysis
they have been grouped into Basic and Supplementary examine competitiveness by focusing on different

Indices. Competitiveness contains two interconnected aspects and honing in on specific sub-factors.
key characteristics – THE WELFARE OF CITIZENS AND
SOCIETY and THE PRODUCTIVITY OF BUSINESSES AND THE Global Entrepreneurship Index - GEDI, Ease of Doing Business
ECONOMY. - World Bank:
Area of Focus: Factors that influence entrepreneurship
The following organisations, whose indices form the basis of
in each country
our analysis, have defined competitiveness as:
Rating Factors: Implementation of corporate
governance, domestic competition, innovation,
networking, ease of starting a business
World Economic Forum (WEF): The set of institutions, policies
and factors that determine the level of productivity of an
The Digital Economy and Society Index (DESI) - European
economy which, in turn, sets the level of prosperity that can
Commission
be reached by an economy.
Area of Focus: Countries’ digital maturity
Rating Factors: Connectivity infrastructure,
technological integration in business, Internet use by
Institute for Management Development (IMD): The ability of a
society
nation to create and maintain an environment that sustains
more value creation for its enterprises and more prosperity
Global Talent Competitiveness Index - INSEAD, the Adecco
for its people.
Group, and Google
Area of Focus: Human capital and talent
Rating Factors: creation, attraction, development
Global Federation of Competitiveness Councils (GFCC): The
and retention of talent, and professional, social and
long-term development of the country's living standards
technical skills
through improving its productivity.

Social Progress Index – Social Progress Imperative:
How each organisation defines competitiveness Area of Focus: Social and environmental progress
in turn informs the factors it takes into account to Rating Factors: Equality in genders and social groups,
social integration, inclusiveness, personal freedom,
assess and quantify it. The above organisations track
freedom of choice, etc.