Philippines jumped 10 spots higher in the latest World Talent Ranking (WTR), as it ranked 45th out of 63 countries. This is the Philippines strongest performance after dropping to No. 57 in 2015.
The countries that topped the rankings this year were Switzerland, Denmark, Belgium, Austria, Finland, Netherlands, Norway, Germany, Sweden, and Luxembourg while Bulgaria, Ukraine, Croatia, Romania, Mongolia, and Venezuela ranked the lowest.
Philippines showed strength in terms of Labor Force growth (4th), the availability of Skilled Labor (6th) and Competent Senior Managers (17th), and the adequacy of Language Skills for the needs of enterprises (13th). Areas for improvement under this factor include the ability of the Educational System to meet the needs of a competitive economy (31st) and emphasis on Science in Schools (37th).
Meanwhile, the Philippines rose four places to No. 34 in appeal this year No. 38 last year.
The country remained the 13th most appealing in terms of the effective personal income tax rate as a percentage of an income equal to (the gross domestic product) per capita and ranked in the upper half of countries for worker motivation in companies (23rd) and the prioritization of attracting and retaining talents in companies (24th).
However the Philippines overall ranking for appeal weighed down by poor performance in tearms of Remuneration in Service Professions (56th), the protection of Personal Security and Private Property Rights (49th), Quality of Life (47th), the effect of Brain Drain on the competitiveness of the economy (40th).
Furthermore, the country scored low in the area of pupil-teacher ratio in primary education and pupil-teacher ratio in secondary, education, ranking 62th and 59th, respectively.
The WTR uses international statistical data, supplemented by an Executive Opinion Survey, to assess the talent competitiveness of 63 leading economies, based on their ability to develop, attract, and retain talent for enterprises to maximize their performance and create long-term value. The rankings are based on three factors: Investment and Development, Appeal, and Readiness.
This is the fourth edition of the IMD WTR; some ranking positions in previous years have been updated to reflect the latest data series for the years 2013 to 2016 and to maintain consistency among all existing and future IMD publications and online datasets.