Thailand’s competitiveness, as determined by the International Institute for Management Development (IMD) in its World Competitiveness Ranking, has improved from last year. The country now places 30th out of 64 economies assessed by the IMD, an improvement of three places from last year’s ranking.
Improvements were seen in all sub-rankings for Thailand, pertaining to four factors that included economic performance, government efficiency, business efficiency and infrastructure. Thailand’s economic performance jumped by 18 places to Number 16, from placing at the 34th spot in 2022. Government efficiency improved by 7 places to Number 24, from ranking at 31st place last year. Business efficiency rose by 7 positions to Number 23, and the sub-ranking for infrastructure showed a one-place improvement to Number 43.
Although Thailand’s positions regarding the sub-factors of education, health, environment, and science dropped from 2022’s IMD ranking, the country saw positive progress overall. The jump in the economic performance sub-ranking was the most significant in the past 3 years, with the main reasons for the remarkable improvement believed to include the performance of Thailand’s domestic economy and international trade, investment, employment and price levels.
Caretaker Prime Minister Gen Prayut Chan-o-cha has expressed appreciation for the cooperation received from all sectors, which he acknowledged as having allowed for concrete successes, adding that this was reflected by the World Competitiveness Ranking.
The premier also indicated that the 18-place jump in the economic performance sub-ranking illustrated the government’s implementation of policies that were suited to the circumstances. The government had sought to improve Thailand’s capabilities, increase the size of the highly competent segment of the workforce, and develop the country towards sustainability while fostering preparedness for future challenges. (NNT)
