Standard of Living as a Factor of Countries’ Competitiveness

This study examines the relations between competitiveness of selected countries and the standard of living of their populations. The focus of this study was determined by literature review, which showed that the mentioned relation has been usually identified only implicitly, showing less emphasis on empirical study. Our research is based on international statistical reports focused on factors of competitiveness of national economies and the metrics used in evaluating the standard of living. Secondary data from several reputable sources - such as the World Bank, the Gallup Institute, and OECD - are systematized and analyzed using several statistical procedures, so as to identify structural links between the various indicators. Based on the identified relations, we discuss areas suitable for increasing the competitiveness of the countries, and we also compare them with current macroeconomic trends.