Metro Manila (CNN Philippines, November 20) —The Philippines climbed 10 spots higher in the World Talent Rankings (WTR) this year, as it ranked 45th, out of 63 countries.
It is the country’s strongest performance in five years.
Switzerland, Denmark, Belgium, Austria, and Finland topped the rankings this year, while Bulgaria, Ukraine, Croatia, Romania, Mongolia, and Venezuela ranked the lowest.
The competitiveness report, now in its fourth edition, assesses the world’s 63 leading economies “based on their ability to develop, attract, and retain talent for enterprises to maximize their performance and create long-term value,” a statement from Asian Institute of Management (AIM) read.
The AIM Rizalino S. Navarro Policy Center for Competitiveness is a partner of the International Institute of Management Development, which prepares the WTR.
The report looks at three primary factors: investment and development, appeal, and readiness.
The Philippines scored highest in “readiness,” where it rose to 11th place from 23rd last year.
It earned that spot because because labor force growth (4th), availability of skilled labor (6th) and competent senior managers (17th), and the adequacy of language skills (13th).
However, the country only ranked 31st in the ability of the educational system to meet the needs of a competitive economy, and 37th in the emphasis of science in schools.
The country placed 34th in the terms of “appeal,” four places up from last year.
It maintained its 13th place in effective personal income tax rate, while landing at 23rd in worker motivation and 24th in attracting and retaining talents in companies.
However, the country scored poorly in remuneration in service professions (56th); the protection of personal security and private property rights (49th); quality of life (47th); and the effect of brain drain on the competitiveness of the economy (40th).
The Philippines placed last in “investment and development,” pulled down by four items in the criteria: total public expenditure on education as a percentage of GDP (it ranked 60th); pupil-teacher ratio in primary education (62nd), pupil-teacher ratio in secondary education (59th); and female labor force as a percentage of total labor force (51st).
It ranked 30th in the sufficiency of apprenticeships and 29th in employee training in companies.
