IMD global competitiveness report ranks Taiwan 16th

2019/05/30

Taiwan is the 16th most competitive economy in the World Competitiveness Yearbook released May 28 by Switzerland-based International Institute for Management Development.
 
 In the survey of 63 major economies, Taiwan moved up one place from last year after registering improvements in the categories of business efficiency and infrastructure. Singapore climbed two spots to top the rankings, followed by Hong Kong, the U.S., Switzerland and the United Arab Emirates, in that order.
 
 According to IMD, the Asia-Pacific has emerged as a beacon of economic competitiveness, with 11 out of 14 regional economies either improving or retaining their positions in this year’s report. Taiwan placed fourth in the Asia-Pacific, ahead of Australia, 18th; New Zealand, 21st; Malaysia, 22nd; Thailand, 25th; South Korea 28th; and Japan, 30th.
 
 Among the four main categories, Taiwan jumped six spots to 14th in business efficiency. The nation registered advances in all five subcategories: attitudes and values, finance, labor market, management practices, and productivity and efficiency.
 
 Taiwan also rose three places to 19th for infrastructure on the back of strengthening scientific and technological frameworks. According to the study, the country has the highest rate of mobile broadband subscriptions and second-highest R&D personnel per capita among surveyed economies.
 
 In government efficiency, Taiwan maintained its 2018 ranking of 12th overall. And while the nation fell one spot to 15th in economic performance, it leaped 13 spots to 28th in the subcategory of international investment.
 
 First launched in 1989, the IMD yearbook assesses economies across 235 indicators in the four categories of business efficiency, economic performance, government efficiency and infrastructure.

Source: Taiwan Today (https://taiwantoday.tw/index.php)