Thailand slips to No.36 in global rankings

[CrazyExpat]

Thailand has further lost its competitiveness in the global arena, ranking No 36 in the World Economic Forum's Global Competitiveness Report 2009-2010.

Once a member of the top 30, Thailand also saw its ranking drop last year to 34th place.

"The country's competitiveness suffers from protracted instability. Unsurprisingly, the quality of public institutions continues to deteriorate. Ranked 63rd in this category, Thailand has dropped 20 places over the past three years. Insufficient protection of property rights (75th) and security (85th) are of particular concern to the business community," the report said.

Aside from concerns over public health, Thailand's technological readiness (63rd) is also lagging. Although mobile-telephone penetration is among the densest in the world, at 124 mobile subscriptions per 100 population, the use of the Internet (21 users per 100) and computers (6 per 100) remains scarce.

On the positive side is Thailand's macroeconomic performance, which is ranked 22nd among 134 countries. The situation improved slightly from 2007 and 2008. The efficiency of the labour market (25th) constitutes another strength. Finally, the sheer size of its domestic (22nd) and foreign (18th) markets is a source of economies of scale.

On top of the chart is Switzerland, which overtakes the United States this year as the world's most competitive economy, thanks to a relatively stable performance. It is also ranked second in terms of innovation capacity and third in business-culture sophistication. The country is characterised by high spending on research and development, with strong collaboration between the academic and business sectors.

Switzerland's public institutions are rated among the most effective and transparent in the world (7th), ensuring a level playing field and enhancing business confidence; these include an independent judiciary, strong rule of law and a highly accountable public sector. Competitiveness is also buttressed by excellent infrastructure (5th) and a well-functioning goods market (5th), as well as a labour market that is among the most efficient in the world (2nd).

For the entire article go to:

http://www.nationmultimedia.com/2009/09/09/business/business_30111845.php