Thailand gets more competitive
Thailand has advanced six places in the World Economic Forum (WEF)’s Global Competitiveness Report for 2014-2015, with the kingdom now ranked 31st globally.
The ranking is based on 12 factors including infrastructure, macroeconomic environment, and efficiency in labour workforce. However, Thailand has a few weaknesses such as innovation, political governance, and intellectual property laws that prevent it from being ranked higher than its current spot.
Singapore grabbed the number two spot in world competitiveness, while Malaysia, Indonesia, and the Philippines were placed 20th, 34th, and 52nd respectively.