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Panama leads in competitiveness

Wednesday, September 12, 2012

Advanced infrastructure is the main factor, which makes Panama the most competitive nation in Central America, and third in Latin America behind Chile and Mexico.

Major investment in roads, docks and transport systems, and especially in an expanded canal, tips the balance in Panama’s favor, according to the Global Competitiveness Report of the World Economic Forum, published last week.

Panama went up nine positions, compared to last year.

The second-fastest rising country in the region was Nicaragua, which climbed seven places, followed by Costa Rica, which went up four positions.

El Salvador and Honduras fell ten and four places, respectively.

The global list was led by Switzerland, Singapore and Finland, on the basis of innovation and high-tech industries.

Haiti, Sierra Leone and Burundi finished last on the list, the result of judicial uncertainty and poor environmental controls.

Figures in parentheses represent the position of each country in the world ranking.

  1. Panama (40)
  2. Costa Rica (57)
  3. Guatemala (83)
  4. Honduras (90)
  5. El Salvador (101)
  6. Nicaragua (108)