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Benchmarking Slovenia

Slovenia usually gets excellent scores in international rankings which put emphasis on creativity, talent and innovation. The latest example is the Global Creativity Index, where Slovenia takes 14th place. Some other recent global comparisons also rank the young Alpine republic close to the top.

Slovenia is for sure not one of the strongest nations on the planet. But the young nation scores surprisingly well in a number of international comparisons and rankings. Take one of the latest analyses for example: the Global Creativity Index. In this survey Slovenia ranks 14th together with Switzerland and France – not bad company for a young nation, even if we don’t mention a number of well-established nations surpassed by Slovenia: 139 nations worldwide were included in the report.

The Global Creativity Index was created by the Martin Prosperity Institute at the University of Toronto as a measure for advanced economic growth, competitiveness and sustainable prosperity. The survey was prepared by the group led by Richard Florida, a leading researcher of creative societies. The index is based on the  “three Ts” as measures of economic development — talent, technology, and tolerance.

According to the Martin Prosperity Institute talent was the decisive factor behind Slovenia’s high score. When it comes to the talent, Slovenia ranks among the top 10 nations worldwide. Technology, the second “T”, is also well developed (17th place), while in regard to tolerance Slovenia occupies 35th place among 139 nations.

Slovenia often scores well in international comparisons which put emphasis on creativity, talent or innovation. The Bloomberg Innovation Index, for example, puts Slovenia on 24th place globally. These qualities are observed even in surveys where Slovenia traditionally doesn’t score too well. Take for example the World Economic Forum’s competitive ranking – it puts Slovenia on a dismal 70th place behind heavily politically and economically stressed countries such as FYR Macedonia of Georgia. At the same time WEF somehow paradoxically put Slovenia among 37 innovation-driven economies – the highest class on WEF’s scale.

Not everybody agrees with WEF’s view on Slovenia’s overall competitiveness. US Forbes magazine put Slovenia on 14th place in its Best Countries for Business report published last December. Forbes gave top scores for personal (1st place) and trade (9th place) freedom. Slovenia also scored well in regard to market performance (11th place), investor protection (14th place) and – somewhat surprisingly – red tape (15th place). In its profile on Slovenia, US magazine stressed “excellent infrastructure, a well-educated work force, and a strategic location between the Balkans and Western Europe”.

The latest Legatum Prosperity Index puts Slovenia on 24th place ahead of South Korea and Spain. It is the highest ranking country in Central Europe. The composite index is based on 89 variables analyzed in 142 nations. It takes into account hard factors like wealth and economic growth, as well as soft elements, like personal well-being and quality of life. 

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