PH ranks 6 notches up in Global Competitiveness

September 5, 2013

The Philippines moved 6 notches up in the global competitiveness ranking according to the 2013-2014 World Economic Forum’s Global Competitiveness Report.

The Philippines ranked 59th out of the 148 economies covered by the report and has outranked India which slipped into 60th slot. In 2012, the Philippines was ranked 65th. The report also regarded Philippines as “the most dynamic and rapidly improving economies in terms of competitiveness.” The report stated that Philippines improved its ranking in 9 out of the 12 pillars. The drivers were innovation pillar, institution pillar, financial market development pillar, goods market efficiency, labor market efficiency, infrastructure, health and primary education, technological readiness, and market size.

The Global Competitiveness Report 2013-2014 assesses the competitiveness of 148 economies through 119 factors which are grouped into 12 pillars or categories and providing insight into the drivers of their productivity and prosperity.

Source: Philippine Star, Manila Standard, ABS-CBN Online