According to a sustainability think tank, SolAbility, Estonia is the 11th most competitive country in the world.
The ranking by SolAbility, based in Switzerland and South Korea, is “based on a competitiveness model that incorporates all pillars of sustained growth and wealth creation: natural capital availability; national governance (the framework in which all players operation – the outcomes of policy directions and investments, eg the availability of infrastructure); intellectual capital (innovation and business capabilities); resource efficiency, and social cohesion”, according to the think tank.
The ranking gives each nation a score out of 100, and Estonia is 11th with the score of 53.6. Latvia (19th) and Lithuania (16th) are also on the list.
Sweden the most competitive
The list is topped by Sweden with the score of 60.9, followed by Norway (59.4) and Finland (56.2).
However, Estonia did even better in the think tank’s governance sub-index that is based on quantitative data (as opposed to qualitative evaluation) and aims at evaluating the suitability of a country’s regulatory framework and infrastructure environment to facilitate sustainable competitiveness. In this category, Estonia scored first with the score of 62.6, followed by Indonesia and Norway. The governance sub-index is partly the reason why Estonia scores so high in the overall ranking.
The SolAbility ranking is similar to the World Economic Forum’s annual global competitiveness report where Estonia was ranked 30th. However, SolAbility uses a different set of criteria to the World Economic Forum.
Cover image is illustrative (photo by Rasmus Jurkatam)