The research also identified a number of areas for improvement in Thailand, including its infrastructure, educational system, health care system, and environmental sustainability. These are essential elements for boosting the nation’s long-term resilience and competitiveness.
The International Institute for Management Development (IMD) has updated its World Competitiveness Ranking, moving Thailand up three spots to 30th. Although infrastructure remained the nation’s weak point, it showed improvement across the four key metrics used to create the rankings.
In the World Competitiveness Ranking, Thailand has moved up to position 30, with infrastructure continuing to be a weakness.
Among the 64 economies examined for the assessment, Denmark, Ireland, and Switzerland were rated the top three, with Europe performing particularly well.
Thailand, Indonesia, and Malaysia were among the nations that took a long time to liberalize their economies following the Covid-19 outbreak, but now their competitiveness is beginning to rise. In the 2023 IMD World Competitiveness Ranking, released today by the World Competitiveness Center for the 35th consecutive year, Denmark, Ireland, and Switzerland were ranked as the top three economies among 64 economies evaluated for their level of global competitiveness.
The 2023 results also show how nations like Thailand, Indonesia, and Malaysia, which were slow to open up following the Covid-19 outbreak, are now beginning to witness improvements in their competitiveness.
In the top 10, Taiwan, China rose one rank to sixth from seventh, Singapore slipped one spot to fourth, the Netherlands rose one spot to fifth (from sixth), and Hong Kong SAR dropped one spot to seventh (from fifth). The UAE moved up two spots to claim tenth, while the USA rose one spot to capture ninth.
Based on four primary indicators—economic performance, government efficiency, business efficiency, and infrastructure—the IMD index assesses the competitiveness of 64 economies. All four metrics showed improvement for Thailand, but economic performance saw the biggest improvement, moving from 34th to 16th.
The research also identified certain areas for improvement in Thailand, including those related to infrastructure, education, health care, and environmental sustainability. These are essential elements for boosting the nation’s long-term resilience and competitiveness.
