The 2018 International Institute for Management Development (IMD) World Competitiveness Rankings placed Thailand in 30th position, its lowest position since 2015. Of particular note were a set of social issues that critically need addressing, such as youth unemployment, long term unemployment and lower rate contribution of employers to the social welfare scheme.
This position in the world economy rankings raises the urgency level for Thailand to immediately take action to boost the country’s competitiveness. Dr Bandid Nijathaworn, President & CEO of the Thai Institute of Directors (IOD), quoted in The Nation, said “most of our problems are structural such as education, infrastructure, corporate innovative capability, and public sector efficiency and governance. Effectively addressing these issues will go a long way in raising the country’s competitiveness.”
The IMD report referred to a set of specific key challenges that will help Thailand to be more competitive such as accelerating education reform, opening up access to the necessary technology and digital platforms to support vital social services such as education and healthcare and building the capacity of the workforce to support the modern workplace.
Find out how Kenan is accelerating education reform in Thailand through our 21st Century Education activities: www.kenan-asia.org/campaigns/kenan-stem-camps
View the report here: https://worldcompetitiveness.imd.org/countryprofile/TH/wcy
