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it describes a national economy that has minimized vulnerability to external shocks, which in turn increases its prospects for sustained growth.

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- How the public sector influences economy and competitiveness through its institutions.

- It measures transparency and efficiency of the governments decisions.

- Government performance and orientation.

- Budget, funds, support and policies to different national priorities.

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The extent to which certain technologies and communications have spread in the given nation. 

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The extent to which certain technologies and communications have spread in the given nation. 

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ICT's are known to reduce transaction costs

Accelerate the exchange of ideas

Induce efficiency

Promote innovation

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It measures how a country uses its resources and capacity to provide its inhabitants with a high level of prosperity.

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- Evaluates the extension, quality and state of utilities and transport infrastructure (roads, rails, ports, airports, cables, pipes, etc)

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Indexes:
Mobile-cellular telephone subscriptions.
Mobile-broadband subscriptions.
Fixed-broadband Internet subscriptions.
Fibre internet subscriptions.
Internet users.

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-Product market pillas assesses the extent to which a country provides an even playing field for companies to participate in its markets. It is measured in terms of extent of market power, openness to foreign firms and the degree of market distortions.

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This pillar assess the global competitiveness based on the life expectancy of a person (in good health)

This is a vital point towards a country's competitiveness and productivity because the health of the population is correlated to their productivity.

Poor health has detrimental effects on the costs within a business and leads to low levels of efficiency. In addition to health, the pillar is heavily affected by the quantity and quality of the basic education, most of the education has access to because this is the basis of business development which can hamper the value chain or a country’s ability to have more advance production processes and techniques that can in turn improve the quality of healthcare available with a country.

The only index: Healthy life expectancy (years)

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The private sector’s capacity to generate and adopt new technologies and new ways to organize work, through a culture that embraces change, risk, new business models,
Administrative rules that allow firms to enter and exit the market easily.

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It assesses the size of the domestic and foreign markets to which a country’s have access.
It is proxied by the sum of the value of consumption, investment and exports.

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Indexes:
Inflation
Debt Dynamics:
- Government debt to GDP
- Change in government debt
- Country bond ratings

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- Labour Market assesses the flexibility of the labor market, namely, the extent to which human resources can be reorganized and talent management”, namely, the extent to which human resources are leveraged.

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8.01 Redundancy costs
8.02 Hiring and Firing practices
8.03 Cooperation in labour-employer relations
8.4 Flexibility of wage determination
8.5 Active labour market policies
8.06 Workers' rights
8. 7Ease of hiring foreign labour
8.8 Internal labour mobility
8.9 Reliance on profesional management
8.10 Pay and productivity
8.11 Female participation in labour force
8.12 Labour race rate

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7.01: Distortive effect of taxes and subsidies on competition
7.02: Extent of market dominance
7.03: Competition in services
7.03a: Competition in professional services
7.03b: Competition in network services

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This pillar assesses the global Competitiveness of a country based on the general skills and a level of workforce when it comes to the quality and capabilities of education. The skills harbored within this pillar are: the quality of education (that is constantly evolving), developing digital literacy, critical thinking, creativity and interpersonal skills.

It’s important to highlight that training and education are crucial factors for economies. This pillar measures secondary and tertiary enrollment rates and quality of education.

It is comprised by:
1.  Current workforce
1.1 Mean years of schooling
1.2 Skills of current workforce
1.2.1. Extent of staff training
1.2.2. Quality of vocational training
1.2.3. Skillset of graduates
1.2.4. Skillset of secondary-education graduates
1.2.5. Skillset of university graduates
1.2.6. Digital skills among active population
1.2.7. Ease of finding skilled employees
2. Future workforce
2.1. School life expectancy
2.2. Skills of future workforce
2.2.1. Critical thinking in teaching
2.2.2.  Pupil-to-teacher ratio in primary education

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The ICT adoption pillar of the Global Competitiveness Index 4.0 assesses the degree of diffusion of specific information and communication technologies (ICTs).

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This pillar is intended to assess how capable the private sector is to generate and adopt new technologies. Also, the way to implement innovative ways of working is taken into account; promoting a culture that takes into account factors such as: change, risks and new business models, so that the company is able to enter the market.

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The Macroeconomic stability pillar of the Global Competitiveness Index 4.0 assesses the level of inflation and the sustainability of fiscal policy

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- 7.04 Prevalence of non-tariff barriers
- 7.05 Trade tariffs
- 7.06 Complexity of tariffs
- 7.07 Border clearance efficiency