THE Philippines is the 1th Asia-Pacific (APAC) nation in the International Institute for Management Development (IMD) World Talent Ranking (WTR) for 2023, which was released on Thursday.
Globally, the Philippines ranked 60th out of 64 countries, dropping from 54th in 2022.
The country is also ranked 24th out of 27 countries with a population of over 20 million people.
The country also ranked 62nd in terms of investment and development as in 2022. It placed 55th in appeal, and 51st in readiness, dropping from 35th and 43rd respectively in 2022.
Singapore (79.96), Hong Kong (74.35), and Australia (73.12) are the top 3 countries in the APAC region, according to the 2023 competitiveness rating.
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With the complete score of 100, Switzerland currently tops the chart, followed by Luxembourg (84.39), Iceland (84.33), Belgium (83.75), and the Netherlands (83.34) in the top 5.
According to the IMD, this year’s World Talent Ranking indicates that the Covid-19 pandemic played a “determining role” in the talent competitiveness landscape, citing the adoption of remote and hybrid work around the world.
“On the one hand, the widespread adoption of remote and hybrid work has implications for how career progression is perceived: 27 percent of the more than 4,000 executives surveyed for the WTR assert that remote work, whether full-time or part-time, is detrimental to career development in their company,” the IMD said in a press statement on Thursday.
“Notably, the economies in which remote work is considered less harmful for career development are, on average, also those that excel in the attraction and retention of highly skilled professionals as well as in the levels of female participation in the job market.”
The IMD said this year’s WTR studied 64 economies, with Kuwait entering the list for the first time. They quantified 31 different criteria under investment and development, appeal (which includes cost of living and quality of life), and readiness (which included labor force growth), which involved hard data and survey responses from executives.
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