Eight Competitiveness Report 2017
Eight Competitiveness Report 2017
Eight Advisory’s Competitiveness Report 2017 provides an in-depth analysis of global economic rankings with a particular focus on the UK’s position following the historic Brexit vote. As one of the world’s leading economies, the UK faces significant challenges and opportunities to maintain its attractiveness to international investors amidst a changing geopolitical landscape.
Economic strength
the UK remains the fifth largest economy in the world in terms of GDP, but faces currency pressures post-Brexit. Whilst the country’s GDP per capita and productivity levels are robust, they lag behind other leading European economies such as Germany and Switzerland.
Business environment
Despite the uncertainty surrounding Brexit, the UK remains at the top of the list for ease of doing business, economic freedom and attracting talent. However, political decisions will be crucial to maintaining this competitive advantage.
Social and political stability
The UK has a low unemployment rate of 5.0%, outperforming many European competitors. However, other social factors such as income inequality and gender parity need to be addressed in order to maintain a thriving, inclusive workforce.
Technology and innovation
With its world-class universities and business schools, the UK is well positioned as a hub for innovation. However, cuts to research funding or a decline in international collaboration post-Brexit could jeopardise this position.
Future prospects
The report emphasises the need for proactive measures to maintain the UK’s position as a leading financial centre. Promoting co-operation with EU countries and ensuring a coherent policy will be crucial to maintaining investor confidence.
Strategic insights for investors
The UK offers unique opportunities but also needs to address challenges such as public debt (89% of GDP) and trade imbalances to remain a global leader. It is important for businesses to understand the UK’s evolving regulatory landscape and capitalise on the country’s strengths in innovation and finance to achieve significant growth.
For the post-Brexit period, the report calls for resilience, adaptability and strategic investment to ensure the UK remains a leader on the global stage.
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