Ghana has made notable progress in the 2025 World Competitiveness Ranking (WCR) released by the International Institute for Management Development (IMD), moving up from 65th place in 2024 to 61st out of 69 countries surveyed.
Despite this upward movement, the country continues to grapple with critical issues that could affect its long-term economic growth and stability.
The IMD ranking assesses countries based on government policies that promote sustainable competitiveness, focusing on infrastructure, economic performance, government efficiency, and business efficiency. Ghana showed slight improvements in government efficiency and infrastructure, ranking 49th in both areas, but lagged behind in economic performance (66th) and business efficiency (67th).
Regionally, Ghana ranked third among six African nations evaluated, trailing Kenya and Botswana. Globally, Switzerland topped the list, followed by Singapore, Hong Kong SAR, and Denmark.
Ghana’s strengths lie in real GDP growth per capita, public finances, cost of capital, and energy infrastructure. However, the report highlighted setbacks in key sectors including education spending, employment rates, population growth, and medical support. The study also pointed to challenges such as declining living standards, constrained government expenditure, and persistent high inflation.
Digital transformation remains a hurdle, with limited internet penetration, high data costs, and inadequate access to technology hampering the digitalization of essential services. These factors contribute to what the report calls an “inclusion deficit,” further complicating efforts to boost competitiveness.
According to the executive opinion survey conducted for the ranking, Ghana’s business environment was rated positively for having a skilled workforce, business-friendly climate, and economic dynamism. However, concerns remain about labour relations, policy stability, and open attitudes towards change.
Local institutions including the Ghana Statistical Service, Ghana Employers Association, and Ghana National Chamber of Commerce and Industry collaborated on data collection and survey responses for the study.
Dr. Stephen Asirifi Essel of the Management Development and Productivity Institute (MDPI) urged policymakers to leverage the report’s findings to address gaps through coordinated stakeholder engagement and reforms aimed at economic resilience.
The IMD emphasized that sustained competitiveness depends heavily on strong institutions, infrastructure, and adaptable governance. It warned that failure to reform could deepen social divisions and undermine economic performance, while countries that combine institutional strength with inclusive outcomes can better withstand external shocks.
As Ghana seeks to build on its progress, the challenge remains to translate improved rankings into tangible economic benefits for its citizens, requiring strategic investments and policy coordination to foster inclusive and resilient growth.
