The Philippines had one of the the biggest climbs in the 2019 World Talent Ranking report from the International Institute for Management Development (IMD).
The country rose six places to 49th place from 55th in 2018.
The report from IMD World Competitiveness Center ranked 63 countries based on the three factors: investment and development, appeal, and readiness.
In the 3 categories, the Philippines improved the most in the readiness factor, its ranking surged to 26th place, 11 places higher than the previous year’s 37th. This category assesses the quality and growth of the existing talent pool.
In the appeal factor category, which looks at the ability to attract and retain high-quality talent from abroad, the Philippines rose to 31st place from 38th in 2018.
In the investment and development factor which measures funds poured in, as well as development of domestic human resources, the Philippines ranked 61st, up one notch from last year.
IMD said the highest ranked indicators for the Philippines under the appeal factor were cost of living and effective personal income tax rate, while the lower ranked ones were quality of life, justice, and brain drain.
The other countries which posted the biggest improvements are Taiwan, which went up seven places to 20th; Lithuania, which rose eight notches to 28th; and Colombia which advanced six places to 54th.
Switzerland remains at the top of talent ranking, followed by Denmark and Sweden.
The other countries in the top 10 are Austria, Luxembourg, Norway, Iceland, Finland, Netherlands, and Singapore.
In this 2019 edition of Talent Ranking results, it indicated that one of the key characteristics of the leading economies was that they continue to strive to achieve alignment between the talent demand they face and the domestic talent supply they are able to offer.
The Philippine economy has been named 2nd best in Asia after the country posted a 6.2% expansion in the 3rd quarter of the year. Leading Asian bank HSBC has also predicted the acceleration of the economy in 2020.
SEND cheers in the comments below to Filipino talents staying in the Philippines! We look forward to even better working and living conditions in the coming year!
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