There are many definitions and concepts of competitiveness in the literature. This article focuses on multilevel concepts of a country’s competitiveness, especially the broad concept of the World Economic Forum (WEF). This concept is explained through the example of Japan. The objective of the article is to discuss various concepts of a country’s international competitiveness, as well as to describe and analyse the competitiveness level of the current Japanese economy. The authors try to identify key competitiveness-related issues in the context of the country’s macroeconomic development in the last decade.