World Competitiveness Rankings 2019 Got Philippines On 4 Spots Higher Than in 2018
PHILIPPINES – The Philippines moved four(4) steps upward in the World Competitiveness Rankings 2019.
Annually, there are global competitiveness rankings that are out. They are based on several factors like the economy of the country and as well as the infrastructures.
One of those that releases reports on competitiveness rankings is the International Institute for Management Development (IMD), a business school in Switzerland.
Recently, it released a report on the World Competitiveness Rankings 2019.
Based on a report on GMA News, in the World Competitiveness Rankings 2019, the Philippines moved four(4) steps upward from its previous spot.
From being on the 50th mark last year, PH is now in the 46th spot out of a total of 63 economies sorted out.
The IMD rankings considered four factors – economic performance, infrastructure, government efficiency, and business efficiency.
According to IMD, the Philippines’ ranking in 2019 is brought by “a solid economic performance”. It cited the sustained gross domestic product of the country which is at 6.2% and the improvement in labor levels.
“The strong and effective style of governance by President Rodrigo Roa Duterte makes Palace optimistic that further improvements will take place… This is every reason to look forward to a bright future,” he said.
Reportedly, in the 2019 rankings, Singapore garnered the top spot and it is followed by Hong Kong. The previous front runner, the United States, fell on the 3rd mark.