IMD: Thailand’s Competitiveness Ranking Drops Five Places to 33

[webfact]

 

by Na-ark Rojanasuvan

    

BANGKOK (NNT) - According to the World Competitiveness Ranking 2022, Thailand fell from 28 last year to 33 out of a total of 63 economies this year, as the Kingdom battles the impact of the Covid-19 pandemic.

 

The World Competitiveness Ranking 2022 was compiled by the World Competitiveness Center under the International Institute for Management Development (IMD).

 

Theeranan Srihong, president of the Thailand Management Association’s (TMA) Centre for Competitiveness, explained that Thailand performed less in all indicators. The Kingdom scored 68.67 this year, a significant drop from last year’s 72.52. Thailand’s score is well below this year’s average of 70.03.

 

He stated that the drop demonstrated a lack of faith in government policies to remodel the economic structure, as well as a lack of confidence in the government’s ability to help the public and economic sectors in order for them to become stronger.

 

For Thailand to stay competitive, both the public and private sectors will need to improve their "agility" and resilience in responding to the volatile global economic climate, according to Theeranan.

 

On July 7th, the TMA will play host to Thailand Competitiveness Conference 2022 titled "Thailand: Fit for the Future" to present views on how Thai businesses should change and adapt to remain globally competitive, he noted.

 

 

-- © Copyright NNT 2022-06-16

 

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[ozz1]

Time for a New government but unfortunately that won't happen while the generals are in charge

[ThailandRyan]

As the tide turns and the once traveled to destination of Thailand is shelved by many, the economy is shrinking, the poor are becoming poorer and the inflation is starting to grow.  The BOT has failed the country by not raising rates like many countries including the US have, but they fear the people will be even more affected if they do.  Household debt has grown over the past 2 years and not just because of the pandemic.  You have to be concerned just a tad if your an expat who lives on a shoestring budget monthly, however with the Baht loosing ground to the dollar, living expenses for Americans are balancing out as far as price increases. Just my view.

[JimHuaHin]

Another of General Prayut's great successes.

[Pedrogaz]

Well done junta.....if they had any shame at all and less greed they would step aside.

[Tarteso]

4 hours ago, webfact said:

Conference 2022 titled "Thailand: Fit for the Future"

 This is meaning;

Hotel 5 star reservation for two days. Night Party day before, from Buffet Menu to Conference room, Blah Blah 2 hours, buffet again, nap, more Blah Blah, Dinner, trip to Bars and massage… Mao mao, sleep and… Work done. 

[Andycoops]

Another dismal failure for Toos policies and his happiness campaign, although the flood of ganja onto the sois might make some a tad more cheerful.

[mikebell]

16 hours ago, Pedrogaz said:

Well done junta.....if they had any shame at all and less greed they would step aside.

If they had any shame they would use a ceremonial sword like the Japanese.

[Blumpie]

The poor are getting poorer all over the world.  Until inflation is tamed there will be significant pain.  

[ThailandRyan]

8 minutes ago, Blumpie said:

The poor are getting poorer all over the world.  Until inflation is tamed there will be significant pain.  

It will be a few years I have a feeling, the pandemic was just the start of the pain folks will be feeling, a worldwide recession will take its toll and international travel will go back to what it was 30 years ago.  As my father always said, Slow and Steady wins the race.  Hope everyone who is retired kept a well rounded portfolio, interest rates for savings, CD's and other instruments will be rising.  

[Blumpie]

1 hour ago, ThailandRyan said:

It will be a few years I have a feeling, the pandemic was just the start of the pain folks will be feeling, a worldwide recession will take its toll and international travel will go back to what it was 30 years ago.  As my father always said, Slow and Steady wins the race.  Hope everyone who is retired kept a well rounded portfolio, interest rates for savings, CD's and other instruments will be rising.  

Honestly I think it already has gone back.  The tourism industry is full of elderly people who are going out "one last time" and not a lot of others doing it.  I fear that tourism will not recover.

This has no basis for an outlook for thailand however.  I have no idea the dynamics of that place.  Tourism there is very strange.  I will say this - China will not be back like it was before.  No chance, no way, not happening.  It's the one time that I was right was this prediction.  China does not necessarily want its citizens travelling around anymore from a governmental level.  They aren't even renewing passports right now.  I give them five years plus till something changes with Chinas outgoing tourism.  

[SmartyMarty]

Using “as the kingdom battles covid 19 pandemic” as an excuse is laughable. Every nation faced the same challenge. Thailand just failed better than the others, hence the fall. Look to the govt for fault.