By JON VIKTOR D. CABUENAS, GMA News, May 24, 2018
Philippine competitiveness registered its “most significant decline” in this year’s world ranking given the downtrend in tourism and employment among others, the International Institute of Management Development (IMD) has said.
Based on this year’s World Competitiveness Yearbook (WCY) rankings of the IMD, the Philippines fell nine spots to rank 50th out of 63 economies included in the list.
“The Philippines experiences the most significant decline in the region, shifting nine places to 50th,” the report read.
“The reasons for such a drop include a decline in tourism and employment, the worsening of public finances and a surge in concerns about the education system,” it added.
The WCY is ranked based on four sectors where the Philippines noted a drop across all factors—economic performance, government efficiency, business efficiency, and infrastructure.
The Philippine economic performance dropped to the 50th spot from last year’s 26th, infrastructure to 60th spot from 54th, business efficiency to 38th from 28th, and government efficiency to 44th from 37th.
“This year’s results reinforce a crucial trait of the competitiveness landscape. Countries undertake different paths towards competitiveness transformation,” Arturo Bris, director of the IMD World Competitiveness Center, said in the statement.
This year’s list was topped by the United States, followed by Hong Kong, Singapore, the Netherlands, and Switzerland.
“Countries at the top of the rankings share an above the average performance across all competitiveness factors, but their competitiveness mix varies,” Bris said.
“One economy, for example, may build its competitiveness strategy around a particular aspect such as its tangible and intangible infrastructure; another may approach competitiveness through their governmental efficiency,” he added. —NB, GMA News
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International Equal Pay Day
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For widespread, practical equality!”
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October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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