While South Africa was ranked only a third of the way down the list of 133 countries on its overall competitiveness, its financial markets shot up to 5th place, from 24th last year. The sharp improvement indicates "strong confidence at a time when trust has been eroded in many parts of the world", the WEF said.
South Africa's banking system has been one of the few not bailed out by government and central bank intervention, during the downturn that started two years ago.
South Africa's ranking was boosted by the accountability of private institutions (ranked 5), the quality of intellectual property protection (24), strong collaboration between universities and the business sector in innovation (25), good scientific research institutions (29), good market efficiency (35), business sophistication (36) and innovation (41).
Did you like this article? Share it with your favourite social network.