THE Philippines inched up one spot in an annual global ranking of countries’ ability to attract and retain a skilled workforce, but continues to lag behind other Asia-Pacific economies.
The country ranked 48th out of 63 economies in the IMD World Competitiveness Center’s World Talent Ranking 2020 report published on Thursday, rising one spot from 49th in 2019 and seven places from 55th in 2018.
In an e-mail, IMD said the Philippines’ overall ranking improvement “is due to worse performance by other countries.”
The Philippines ranked 12th out of 14 economies in the Asia-Pacific, with Singapore, Australia, and Hong Kong taking the top spots.
In the region, Singapore’s ranking improved while Malaysia, Thailand, and Indonesia saw small declines. The region performed relatively poorly in investment and development, including Malaysia (34th), Thailand (51st), and Indonesia (52nd).
Asia-Pacific economies did well in the appeal factor, remaining attractive to foreign labor, IMD said in a press release.
The IMD report took into account three equally weighted factors: “investment and development” in homegrown talent, the “appeal” or the extent to which the country attracts overseas talent, and “readiness” or the availability of skills in the talent pool.
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