Taiwan ranks 14th in IMD global competitiveness report

2017/06/02

Taiwan is the 14th most competitive economy in the World Competitiveness Yearbook published May 31 by Switzerland-based International Institute for Management Development.
 
 In the survey of 63 major economies, Taiwan maintained its 2016 ranking while recording improvements in the categories of business efficiency and economic performance. The country placed third in the Asia-Pacific behind Hong Kong and Singapore, in that order.
 
 According to the report, the nation’s economic performance climbed three spots to 12th globally on the back of positive results in the subcategories of adjusted consumer price inflation, domestic economy and international investment.
 
 Taiwan moved up one position to 15th in business efficiency owing to advances in the subcategories of attitudes and values, the labor market and resilient management practices. In the categories of government efficiency and infrastructure, the nation’s rankings slipped one and two spots to 10th and 21st, respectively.
 
 The report also outlines the country’s economic goals for 2017 as provided by the Cabinet-level National Development Council. These include accelerating innovation-based growth and industrial restructuring, boosting labor participation and talent recruitment, and promoting environmental sustainability through such measures as advancing carbon-reduction and energy-saving efforts.
 
 Launched in 1989, the annual World Competitiveness Yearbook assesses an economy using 260 indicators in the four main categories of business efficiency, economic performance, government efficiency and infrastructure. Hong Kong topped this year’s rankings, followed by Switzerland, Singapore, the U.S. and the Netherlands, in that order.
 
 In addition to the yearbook, IMD also issued its World Digital Competitiveness Ranking for the first time. Comprising the three main categories of knowledge, technology and future readiness, this new index rates the 63 economies based on their ability to adopt and explore digital technologies that can transform business models, government practices and wider society.
 
 Taiwan ranked 12th in the digital competitiveness report, placing among the top three economies globally in factors including high-tech exports, information technology and media stock market capitalization, and total R&D personnel per capita. Among the 14 Asia-Pacific economies surveyed, the country finished third after Singapore and Hong Kong, in that order.

Source: Taiwan Today (http://taiwantoday.tw/news.php?unit=10&post=116103)