Basic Facts
What is the population of Venezuela?
26.67 million
Which pillar gave Venezuela its highest score in the 2019 Global Competitiveness Index?
Health
What are two major consequences of the mass migration from Venezuela since 2014?
Loss of human capital (brain drain) and reduced domestic market potential.
How has underinvestment affected Venezuela’s infrastructure and innovation capability?
Underinvestment has led to poor maintenance, frequent service disruptions, and minimal research funding, limiting infrastructure and innovation output
In what region is Venezuela classified in the Global Competitiveness Report?
Latin America and the Caribbean
Which pillar did Venezuela rank last globally (141st place) in 2019?
Macroeconomic Stability
What rank did Chile achieve in the 2019 Global Competitiveness Index for Latin America?
33rd
What is the projected trend for Venezuela’s competitiveness through 2030?
Venezuela is projected to remain near the bottom of the competitiveness ranking through 2030 (persistent stagnation)
What is Venezuela’s main export product historically?
Oil (petroleum)
What was Venezuela’s overall Global Competitiveness Index score in 2019?
41.8
Name two factors cited for Venezuela’s weak institutions.
Authoritarian tendencies, corruption, and limited rule of law
In the report, which two areas of the innovation ecosystem are identified as least developed in Venezuela?
Business dynamism and innovation capability – regulatory burdens and minimal private R&D
Name one major cause of Venezuela’s current economic crisis.
Hyperinflation, currency devaluation, and international sanctions
In terms of market size, how does Venezuela compare to other Latin American countries?
Domestic Market Potential
Which year did Venezuela hit its lowest ever competitiveness score?
2016
List one recommendation to improve Venezuela’s competitiveness according to international sources.
Improve institutional transparency, invest in education and infrastructure, and reduce corruption