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Thailand competitiveness ranking drops 2 spots to 40th place

Oct 09. 2019
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By The Nation

Thailand’s competitiveness ranking for 2019 has dropped two spots from 38th to 40th among 141 world economies, despite the government’s Thailand 4.0 programme.

The World Economic Forum’s Global Competitiveness Index rankings for 2019 were announced on Wednesday (October 9) at the Chulalongkorn Business School.

The drop occurred despite the Thailand 4.0 programme, noted Ass’t Professor Wilert Puriwat, Dean of Chulalongkorn Business School.

“Other countries made faster progress in increasing their competitiveness,” he said.

Still, Thailand’s scores rose from 67.5 to 68.1, he added.

Singapore is ranked first place, followed by the US and Hong Kong.

The index is divided into four major categories and built on 12 pillars:

1. Enabling Environment, which covers institutions, infrastructure, ICT adoption and macroeconomic stability;

2. Human capital, in which health and skills are assessed;

3. Markets, which includes product markets, labour market, financial system and market size;

4. Innovation ecosystem, in which business dynamism and inoculation capacity are assessed.

The rankings are determined by the World Economic Forum in alliance with the Chulalongkorn Business School at Chulalongkorn University.

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