Philippines Jumps Up Four Spots in World Competitiveness Rankings 2019 Results
The Philippines has moved up to rank #46 in the latest results of the World Competitiveness Rankings 2019. Last year, the country ranked #50.
Singapore is now ranked as the world’s most competitive economy for the first time since 2010 and followed by Hongkong SAR. The United States, which was at the top spot in 2018 results, has fallen to the #3 this year.
In the Asia-Pacific region, Indonesia leapt 11th places to 32nd. Thailand also jumped five places up to #25.
The IMD World Competitiveness Rankings, established in 1989, incorporate 235 indicators from each of the 63 ranked economies. The ranking takes into account a wide range of “hard” statistics such as unemployment, GDP and government spending on health and education, as well as “soft” data from an Executive Opinion Survey covering topics such as social cohesion, globalization and corruption.
This information feeds into four categories – economic performance, infrastructure, government efficiency and business efficiency – to give a final score for each country. There is no one-size-fits-all solution for competitiveness, but the best performing countries tend to score well across all four categories.
