PH Improves to 51st in Competitiveness, but Still Lags Behind in Asia-Pacific

The Philippines saw its ranking move up one notch to 51st place out of 69 economies in this year's World Competitiveness Yearbook (WCY) released by the International Institute for Management Development (IMD), but the country continued to lag behind its peers in Asia-Pacific.

- By Louella Desiderio

This year's edition of the WCY showed that the Philippines placed 13th out of 14 economies in Asia-Pacific.

The Philippines also ranked last out of the five Southeast Asian economies included in the report.

Published by the IMD since 1989, the WCY ranks economies using 262 indicators spread in four competitiveness factors or pillars: economic performance, government efficiency, business efficiency and infrastructure.

Out of 262 indicators, 170 are based on statistical data gathered from national sources, while the remaining 92 are derived from a survey covering mid- and upper-level managers.