PH retains 52nd spot in 2024 World Competitiveness Ranking
PH retains 52nd spot in 2024 World Competitiveness Ranking
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00:00The country has maintained its position at 52nd place out of 67 economies in this year's edition of the 2024 World Competitiveness Report.
00:09In terms of economic performance, the Philippines remained in the 40th spot.
00:13When it comes to government efficiency, the country improved to 49th this year from 52nd last year with gains seen in public finance and institutional framework.
00:23However, the nation registered a decline in business efficiency, particularly in areas such as the labor market, finance, management practices and attitudes and values.
00:34Meanwhile, infrastructure remains a persistent challenge for the country with declines observed in basic technological, scientific and educational infrastructure.