Philippines' Global Competitiveness - World Economic Forum

The World Economic Forum has recently published the 2012-2013 Global Competitiveness Report. This is another ranking of countries, the other report by the International Institute for Management and Development was posted earlier. Out of 144 countries, the Philippines ranks 65th (10 places higher than last year). On the twelve pillars used by the report, the Philippines ranks as follows:

• Institutions - 94
• Infrastructure - 98
• Macroeconomic Environment - 36
• Health and Primary Education - 98
• Higher Education and Training - 64
• Goods Market Efficiency - 86
• Labor Market Efficiency - 103
• Financial Market Development - 58
• Technological Readiness - 79
• Market Size - 35
• Business Sophistication - 49
• Innovation - 94

The above pillars are further subdivided into various components. For example, under Higher Education and Training is Quality of Math and Science Education where Philippines ranks 98th. Under Health and Primary Education, on the criterion Quality of Primary Education, the Philippines is number 86. 

The positive contributors to the ranking of the Philippines are the following:

• Strength of auditing and reporting standards - 41
• Efficacy of Corporate Boards - 51
• Protection of Minority Shareholders' Interest - 57
• Available airline seats - 26
• Government budget balance - 36
• Gross national savings - 47
• HIV prevalence - 12
• Quality of the educational system - 45
• Quality of management schools - 39
• Extent of staff training - 32
• Intensity of local competition - 50
• Degree of customer orientation - 27
• Trade, Tariffs, %Duty - 53
• Extent and effect of taxation - 57
• Buyer sophistication - 57
• Cooperation in employer-labor relations - 38
• Pay and productivity - 57
• Reliance on professional management - 38
• Availability of financial services - 50
• Affordability of financial services - 34
• Financing through local equity market - 36
• Ease of access to loans - 46
• Soundness of banks - 41
• Regulations of securities exchanges - 46
• Firm-level technology absorption - 46
• FDI and technology transfer - 40
• Domestic market size - 29
• Foreign market size - 40
• Local supplier quantity - 49
• State of cluster development - 38
• Extent of marketing - 41
• Willingness to delegate authority - 27

Although the Philippines has improved its overall ranking, it still falls behind its neighbors. In the overall ranking, Thailand is 38 and Indonesia is 50.

BongV of antipinoy.com shows this more vividly in his figure below:

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