2.1: Country/Economy ProfilesPuerto RicoKey indicators, 2011Population (millions) ...........................................
2.1: Country/Economy Profiles                                                                                             ...
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WEF Puerto Rico 2011

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WEF Puerto Rico 2011

  1. 1. 2.1: Country/Economy ProfilesPuerto RicoKey indicators, 2011Population (millions) .......................................... 3.9GDP (US$ billions) .......................................... 98.8GDP per capita (US$) ................................. 26,500GDP (PPP) as share (%) of world total .............. n/aThe Global Competitiveness Index Rank (out of 144) Score (1–7) Stage of developmentGCI 2012–2013 ...................................................... 31 ..... 4.7 Transition Transition 1 1–2 2 2–3 3GCI 2011–2012 (out of 142) ..................................... 35 ......4.6GCI 2010–2011 (out of 139) ..................................... 41 ......4.5 Factor Efficiency Innovation driven driven drivenBasic requirements (20.0%) .......................................48 ......4.9 InstitutionsInstitutions ................................................................ 38 ......4.6 7Infrastructure ............................................................ 58 ......4.2 Innovation Infrastructure 6Macroeconomic environment ................................... 48 ......5.0 5 Business MacroeconomicHealth and primary education ................................... 75 ......5.6 4 sophistication environment 3Efficiency enhancers (50.0%) .....................................33 ......4.6 2 Health andHigher education and training ................................... 24 ......5.2 Market size 1 primaryGoods market efficiency .......................................... 26 ......4.9 educationLabor market efficiency ............................................ 38 ......4.6Financial market development .................................. 29 ......4.7 Technological Higher education readiness and trainingTechnological readiness ............................................ 41 ......4.7Market size ............................................................... 68 ......3.6 Financial market Goods market development efficiencyInnovation and sophistication factors (30.0%) ...........26 ......4.6 Labor market efficiencyBusiness sophistication ........................................... 24 ......4.9Innovation ................................................................. 27 ......4.4 Puerto Rico Innovation-driven economiesThe most problematic factors for doing businessInefficient government bureaucracy ...................................24.7Restrictive labor regulations ...............................................14.8Access to financing ...........................................................10.8Crime and theft ...................................................................9.7Tax rates..............................................................................6.0Corruption ...........................................................................5.9Insufficient capacity to innovate ...........................................4.6Poor work ethic in national labor force ................................4.5Inadequate supply of infrastructure ......................................4.4Tax regulations ....................................................................4.4Policy instability ...................................................................4.2Inflation ................................................................................2.4Government instability/coups ..............................................2.0Poor public health ...............................................................0.8Inadequately educated workforce ........................................0.6Foreign currency regulations ................................................0.2 0 5 10 15 20 25 30 Percent of responsesNote: From the list of factors above, respondents were asked to select the five most problematic for doing business in their country and to rank them between 1 (most problematic) and 5. The bars in the figure show the responses weighted according to their rankings.298 | The Global Competitiveness Report 2012–2013 © 2012 World Economic Forum
  2. 2. 2.1: Country/Economy Profiles Puerto RicoThe Global Competitiveness Index in detail INDICATOR VALUE RANK/144 INDICATOR VALUE RANK/144 1st pillar: Institutions 6th pillar: Goods market efficiency 1.01 Property rights ....................................................... 5.8 ............17 6.01 Intensity of local competition .................................. 5.7 ............17 1.02 Intellectual property protection ............................... 5.6 ............13 6.02 Extent of market dominance .................................. 5.0 ............15 1.03 Diversion of public funds ........................................ 3.8 ............50 6.03 Effectiveness of anti-monopoly policy ..................... 5.3 ..............7 1.04 Public trust in politicians ......................................... 2.7 ............72 6.04 Extent and effect of taxation................................... 3.6 ............58 1.05 Irregular payments and bribes ................................ 4.7 ............45 6.05 Total tax rate, % profits* ....................................... 63.1 ..........124 1.06 Judicial independence............................................ 4.6 ............41 6.06 No. procedures to start a business* .......................... 6 ............47 1.07 Favoritism in decisions of government officials ....... 3.1 ............64 6.07 No. days to start a business* .................................... 6 ............16 1.08 Wastefulness of government spending ................... 3.1 ............80 6.08 Agricultural policy costs.......................................... 3.7 ............90 1.09 Burden of government regulation ........................... 2.8 ..........122 6.09 Prevalence of trade barriers ................................... 4.9 ............25 1.10 Efficiency of legal framework in settling disputes .... 4.8 ............24 6.10 Trade tariffs, % duty* .............................................. n/a ...........n/a 1.11 Efficiency of legal framework in challenging regs. ... 4.6 ............23 6.11 Prevalence of foreign ownership............................. 5.2 ............43 1.12 Transparency of government policymaking............. 4.2 ............81 6.12 Business impact of rules on FDI ............................. 4.9 ............45 1.13 Gov’t services for improved business performance 4.3 ............28 6.13 Burden of customs procedures .............................. 4.8 ............33 1.14 Business costs of terrorism .................................... 5.8 ............54 6.14 Imports as a percentage of GDP* ........................ 94.1 ............12 1.15 Business costs of crime and violence..................... 3.8 ..........112 6.15 Degree of customer orientation .............................. 5.4 ............23 1.16 Organized crime ..................................................... 5.4 ............58 6.16 Buyer sophistication ............................................... 4.1 ............30 1.17 Reliability of police services .................................... 4.6 ............54 1.18 Ethical behavior of firms ......................................... 4.8 ............36 7th pillar: Labor market efficiency 1.19 Strength of auditing and reporting standards ......... 5.8 ............14 7.01 Cooperation in labor-employer relations ................. 4.6 ............46 1.20 Efficacy of corporate boards .................................. 5.3 ............13 7.02 Flexibility of wage determination ............................. 5.4 ............39 1.21 Protection of minority shareholders’ interests ......... 5.7 ..............5 7.03 Hiring and firing practices ....................................... 3.5 ..........104 1.22 Strength of investor protection, 0–10 (best)* .......... 7.0 ............17 7.04 Redundancy costs, weeks of salary* ......................... 0 ..............1 7.05 Pay and productivity............................................... 4.3 ............45 2nd pillar: Infrastructure 7.06 Reliance on professional management ................... 5.6 ............14 2.01 Quality of overall infrastructure ............................... 5.0 ............46 7.07 Brain drain ............................................................. 3.5 ............63 2.02 Quality of roads ...................................................... 5.0 ............37 7.08 Women in labor force, ratio to men* ..................... 0.68 ............99 2.03 Quality of railroad infrastructure .............................. 2.1 ............86 2.04 Quality of port infrastructure ................................... 5.2 ............32 8th pillar: Financial market development 2.05 Quality of air transport infrastructure....................... 5.8 ............28 8.01 Availability of financial services ............................... 5.7 ............22 2.06 Available airline seat kms/week, millions* ........... 439.6 ............44 8.02 Affordability of financial services ............................. 5.4 ............12 2.07 Quality of electricity supply ..................................... 5.1 ............61 8.03 Financing through local equity market .................... 3.3 ............76 2.08 Mobile telephone subscriptions/100 pop.* ........... 83.0 ..........105 8.04 Ease of access to loans ......................................... 2.9 ............63 2.09 Fixed telephone lines/100 pop.* ........................... 22.1 ............53 8.05 Venture capital availability ....................................... 2.8 ............54 8.06 Soundness of banks .............................................. 5.1 ............74 3rd pillar: Macroeconomic environment 8.07 Regulation of securities exchanges ........................ 5.2 ............23 3.01 Government budget balance, % GDP* ..................-1.0 ............38 8.08 Legal rights index, 0–10 (best)* ................................. 8 ............24 3.02 Gross national savings, % GDP* .......................... 13.4 ..........109 3.03 Inflation, annual % change* .................................... 2.9 ..............1 9th pillar: Technological readiness 3.04 General government debt, % GDP* ..................... 59.0 ..........105 9.01 Availability of latest technologies ............................ 6.0 ............31 3.05 Country credit rating, 0–100 (best)* ........................ n/a ...........n/a 9.02 Firm-level technology absorption ............................ 5.6 ............26 9.03 FDI and technology transfer ................................... 4.9 ............49 4th pillar: Health and primary education 9.04 Individuals using Internet, %* ............................... 48.0 ............59 4.01 Business impact of malaria .............................. n/appl. ..............1 9.05 Broadband Internet subscriptions/100 pop.* ........ 14.9 ............41 4.02 Malaria cases/100,000 pop.* ................................(NE) ..............1 9.06 Int’l Internet bandwidth, kb/s per user* .............. 135.4 ............10 4.03 Business impact of tuberculosis ............................. 6.5 ............16 9.07 Mobile broadband subscriptions/100 pop.*.......... 14.7 ............57 4.04 Tuberculosis cases/100,000 pop.* ......................... 2.2 ..............2 4.05 Business impact of HIV/AIDS ................................. 5.1 ............84 10th pillar: Market size 4.06 HIV prevalence, % adult pop.* ............................... 0.3 ............77 10.01 Domestic market size index, 1–7 (best)*................. 3.3 ............74 4.07 Infant mortality, deaths/1,000 live births* ................ 8.8 ............51 10.02 Foreign market size index, 1–7 (best)* .................... 4.4 ............65 4.08 Life expectancy, years*......................................... 78.9 ............32 4.09 Quality of primary education ................................... 3.6 ............74 11th pillar: Business sophistication 4.10 Primary education enrollment, net %* .................. 85.5 ..........112 11.01 Local supplier quantity ........................................... 4.9 ............50 11.02 Local supplier quality.............................................. 5.4 ............16 5th pillar: Higher education and training 11.03 State of cluster development.................................. 4.3 ............32 5.01 Secondary education enrollment, gross %* .......... 82.2 ............87 11.04 Nature of competitive advantage ............................ 5.1 ............21 5.02 Tertiary education enrollment, gross %*................ 86.0 ..............6 11.05 Value chain breadth................................................ 4.2 ............32 5.03 Quality of the educational system ........................... 4.0 ............51 11.06 Control of international distribution ......................... 4.0 ............69 5.04 Quality of math and science education .................. 3.8 ............84 11.07 Production process sophistication.......................... 5.6 ............15 5.05 Quality of management schools ............................. 4.6 ............44 11.08 Extent of marketing ................................................ 5.6 ..............9 5.06 Internet access in schools ...................................... 4.5 ............57 11.09 Willingness to delegate authority ............................ 4.7 ............20 5.07 Availability of research and training services ........... 5.5 ............11 5.08 Extent of staff training ............................................ 4.8 ............19 12th pillar: Innovation 12.01 Capacity for innovation........................................... 3.6 ............38 12.02 Quality of scientific research institutions ................. 4.5 ............38 12.03 Company spending on R&D................................... 3.6 ............35 12.04 University-industry collaboration in R&D ................. 4.5 ............32 12.05 Gov’t procurement of advanced tech products ...... 3.7 ............56 12.06 Availability of scientists and engineers .................... 5.7 ..............3 12.07 PCT patents, applications/million pop.* .................. n/a ...........n/aNotes: Values are on a 1-to-7 scale unless otherwise annotated with an asterisk (*). For further details and explanation, please refer to the section “How to Read the Country/Economy Profiles” on page 83. The Global Competitiveness Report 2012–2013 | 299 © 2012 World Economic Forum

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