The Philippines’ ranking as a competitive economy climbed two notches over the last year, mostly because of the improved score on macroeconomic environment, labor market efficiency and financial market development, according to the latest World Economic Forum (WEF) report.
In its Global Competitiveness Index 2010-2011, WEF reported that the Philippines ranked 85th with an index of 3.96 among 139 countries surveyed. The country placed 87th among 133 countries in the 2009-2010 report.
The Philippines’ ranked 125th in institutions; infrastructures, 104th; macroeconomic environment, 68th; health and primary education, 90th; higher education and training, 73rd; goods market efficiency, 97th; labor market efficiency, 111th; financial market sophistication, 93rd; technological readiness, 95th; market size, 37th; business sophistication, 60th and innovation 11th.
The Global Competitiveness Index is based on 12 pillars of competitiveness, providing a comprehensive picture of the competitiveness landscape in countries around the world at all stages of development.
These pillars include institutions, infrastructure, macroeconomic stability, health and primary education, higher education and training, goods market efficiency, labor market efficiency, financial market sophistication, technological readiness, market size, business sophistication and innovation.
This year, over 13,500 business leaders were polled in 139 economies.
The survey is designed to capture a broad range of factors affecting an economy’s business climate. The report also includes comprehensive listings of the main strengths and weaknesses of countries, making it possible to identify key priorities for policy reform. - pna
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Topic: Global Competitiveness of Philippine Economy (Read 625 times)