Philippine drops to 63rd place in World Talent Rankings

MANILA, Philippines — The Philippines slid down three places from 60th last year to the 63rd spot out of 67 economies in this year’s World Talent Ranking report released by the business school Institute for Management Development (IMD).

Released every year, the report ranks economies’ ability to develop, retain and attract a highly skilled workforce to determine how well they are achieving long-term value creation.

The rankings are based on three factors such as investment and development, appeal and readiness.

Of the three factors, the Philippines saw its ranking drop in two.

In particular, the Philippines’ ranking in terms of investment and development slid to 64th place this year from 62nd in 2023.

When it comes to readiness, the Philippines went down to 52nd place this year from 51st last year.

As for appeal, the Philippines climbed to 54th place this year from the 55th spot in 2023.

Within Asia-Pacific, the Philippines lags behind Singapore (second), Hong Kong (ninth), Australia (14th), Taiwan (18th), South Korea (26th), Malaysia (33rd), China (38th), New Zealand (39th), Japan (43rd), Indonesia (46th), Thailand (47th) and India (58th), but ahead of Mongolia (67th).

Switzerland continued to top the list. Singapore came in next, followed by Luxembourg in third place.

As artificial intelligence (AI) continues to advance, IMD said the technology’s dual role as a tool for enhancing human capabilities and replacing human labor will continue to be discussed along with talent competitiveness.

“Talent competitiveness in the AI era requires a reassessment of educational systems and corporate training programs to ensure workers possess the skills needed to succeed in an increasingly automated world,” IMD said.