Botswana has climbed up four rugs in the latest world competitiveness rankings in the International Institute for Management Development (IMD) 2024 version of a report that ranks countries on their performances.
This year, Botswana’s overall competitiveness rank is 55 out of 67 countries. Last year, Botswana’s overall competitiveness rank was 59 out of 64 economies surveyed.
The 2024 edition, released in June this year, provides extensive coverage of 67 global economies and is a worldwide reference on the competitiveness of economies. In 2024, three new economies were added: Ghana, Nigeria and Puerto Rico.
The report shows that despite moving four places in the 2024 IMD world competitiveness ranking, Botswana still faces challenges relating to high levels of unemployment, especially youth unemployment, climate change, constant drought, and unreliable rainfall, high-income inequality, Small domestic market and low levels of economic diversification.
The report shows that among the four main factors used to compile the rankings, Botswana ranked 64th in economic performance (down from 62nd a year earlier), 38th in government efficiency (down from 37th a year earlier), 47th in Business efficiency (up from 50th) and 57th in infrastructure (up from 61st), according to the IMD.
The IMD report also shows that among some specific sub-categories, Botswana fell two places to 60th for its “domestic economy,” down four places to 67th for “International Trade,” and down two places to 4th for “prices” while it retained the same rank for “employment” (64th).
Botswana showed improvement in indicators relating to “public finance” up one spot to 16th, “business legislation” up one spot to 41st and “societal framework’ up one spot to 59th. In terms of “tax policy” Botswana edged down one place to 16th.
Botswana’s biggest improvement came in the “labour market” category, in which the country moved 11 spots to rank 21st as well as the “productivity and efficiency” category in which Botswana moved seven spots to rank 57th. In terms of “management practices,” Botswana slipped four spots to rank 54th and edged down one spot in the “finance” category to rank 59th while it maintained its previous 45th place in the “Attitudes & Values” category. Botswana also registered improvement in the “education” category as it moved 5th places to rank 46th, and moved to second spot in the “basic infrastructure” category to rank 49th. Botswana moved one spot in “scientific infrastructure” and “health and environment” to rank 62nd and 58th respectively. The country fell three places in the “technological Infrastructure” to rank 62nd.
