The Competitiveness Overview of Serbia, Montenegro and Croatia in 2019
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Abstract
Competitiveness has always been significant in achieving sustainable economic growth in the medium term. This article presents a comparative analysis of the competitiveness of the Western Balkan countries - Serbia, Montenegro and Croatia based on the values of the Global Competitiveness Index of the World Economic Forum, the World Bank Doing Business Index and the Heritage Foundation's Economic Freedom Index for 2019. There are some areas where some improvement is needed to increase the level of competitiveness. Based on results of the survey, Serbia is more competitive than Montenegro and Croatia in 2019, mainly due to the highest values of the Doing Business Index and the Heritage Foundation's Economic Freedom Index. Croatia is in second place, followed by Montenegro. Regardless of their competitiveness ranking, significant progress will be needed in terms of development of innovation capacity, fight against corruption, efficiency of the judiciary and reduction of general government expenditure.
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