[ad_1]
The Philippines improved its ranking one notch to 48th out of 63 economies in the IMD 2020 World Talent Rankings. IMD, a business education school in Lausanne, Switzerland, said the Philippines performed well on both readiness and performance factors. attractive, with ratings of 31 and 33, respectively. The report assessed the development, attraction and retention of human capital in 63 economies in light of the impact of the COVID-19 crisis and regional political changes in Europe, including Brexit. IMD’s Center for Global Competitiveness takes a three-pronged approach to measuring talent in economies. The investment and development factor measures the resources devoted to cultivating a local workforce, while the attractiveness factor assesses the extent to which an economy attracts foreigners and retains local talent. The readiness factor measures the quality of skills and competencies that are available in a country’s talent pool. He said that regionally, the Philippines was behind Indonesia, which ranked 45th, but ahead of India at 62nd and Mongolia at 63. Among the highly ranked Asia-Pacific countries are Singapore at 9th, Australia in 13, Hong Kong in 14, Taiwan in 20, New Zealand in 21, Malaysia in 25, Korea in 31, Japan in 38, China in 40 and Thailand in 43.. The report revealed that the APAC region has been relatively stable in recent years, with improvements in Singapore and the Philippines and small declines in Malaysia, Thailand and Indonesia. He said the poor performance of Indonesia, the Philippines, Thailand and Mongolia was partly due to the slow increase in female labor force participation in recent years, although they still perform poorly relative to other economies. He said that in terms of public spending on education, all of the Asia-Pacific nations evaluated, with the exception of Singapore, had very low education spending per student in US dollar terms. With the exception of Malaysia, the region also performed poorly in pupil-teacher ratios. The top 5 economies in IMD’s world talent rankings were Switzerland, Denmark, Luxembourg, Iceland, and Sweden, which have excellent education systems and therefore rank highly in the investment and development factor. Switzerland has been at the top of the report for four years in a row.
COMMENT DISCLAIMER: Readers’ comments posted on this website are in no way endorsed by Manila Standard. Comments are the opinions of manilastandard.net readers exercising their right to free expression and do not necessarily represent or reflect the position or point of view of manilastandard.net. Although this publication reserves the right to remove comments that are deemed offensive, indecent or inconsistent with the editorial standards of Manila Standard, Manila Standard is not responsible for any false information posted by readers in this comment section.
[ad_2]
