BANGKOK: Thailand’s ranking in the Global Competitiveness Index (GCI) 2016-17 has dipped two places to 34th from last year. The report is an annual assessment of the factors driving productivity and prosperity in 138 countries. The degree to which economies are open to international trade in goods and services is directly linked to both economic growth and a nation’s innovative potential. Switzerland tops the list for the eighth consecutive year, narrowly ahead of Singapore and the US.
Following them is the Netherlands and Germany. The latter has climbed four places in two years. The next two countries, Sweden and the UK, both advanced three places, with the UK’s score based on pre-Brexit data. The remaining three economies in the top 10 — Japan, Hong Kong and Finland — all moved backwards.
In East Asia, large emerging markets such as Malaysia dropped out of the top 20, falling seven places to 25th, while Indonesia dropped four places to 41st and the Philippines fell 10 spots to 57th.
