Croatia – the second best performing country in the SEE

According to the The Global Competitiveness Report 2014–2015, Croatia is the second best performing country in Southeastern Europe. Croatia is in the group of countries marked by the transition phase from the efficiency driven economy to innovation driven economy (economies with GDP from 9,000 USD to 17,000 USD). Croatia is grouped with 24 countries together with Hungary and Poland, while most of the SEE countries are ranked in a lower category group – as countries with efficiency driven economies.

 

Croatia is described as a country boasting solid infrastructure (44th), especially in roads (17th) and electricity (40th), and having benefit from relatively high levels of education and training (53rd), although the quality of its education needs to be improved (55th). Companies and individuals use ICTs fairly widely in regional comparison (40th), and the country is open to foreign trade, with low tariffs (45th) and well-functioning customs procedures (41st) as well as low inflation rate (1st). As Croatia moves into the innovation-driven stage of development in the coming years, it will need to start putting measures into place that incentivize and enable companies to innovate more. Currently, its businesses’ capacity for innovation is low according to business executives, although research institutes are assessed more favorably (53rd) and the country’s patenting rate is moderately strong (36th). Croatia is valued as a country with excellent technological readiness (44th), widely implemented fixed broadband internet (36th) and mobile broadband (24th).

 

The Global Competitiveness Report 2014-2015 is a yearly report made by World Economic Forum assessing the competitiveness landscape of 144 economies, providing insight into the drivers of their productivity and prosperity.