Trinidad and Tobago has become a more competitive location.

The country rose in the rankings of the Global Competitiveness Report which analysed the performance of 134 nations and ranked them in terms of competitiveness.

Trinidad and Tobago moved up in the rankings from 92nd last year to 86th this year.

The report was a collaboration between the World Economic Forum, the Competitiveness Company and the Arthur Lok Jack Graduate School of Business.

Trinidad and Tobago’s competitive advantages included strength of audit and reporting standards, quality of primary education, quality of management schools, quality of electricity supply and air transport infrastructure, the Competitiveness Company said in a statement yesterday.

The country also ranked well in terms of tax rates, ease of access to loans and soundness of banks.

In terms of problems doing business, crime and theft, poor work ethic in the labour force and government bureaucracy ranked highest.

The overall performance of the country placed it as an innovation-driven country, a stark change from its performance five years ago when it was largely efficiency-driven, the statement added. -CR