Bangkok – Thailand’s global competitive rank this year has risen to 38 from 40 last year, according to the Global Competitiveness Index 4.0 by the World Economic Forum (WEF).
The index compares the competitiveness of 140 countries. This year, the WEF gives the U.S. first ranking for the first time in 10 years and Thailand 38th ranking with a score of 67.5. In ASEAN, Thailand ranks 3rd after Singapore. and Malaysia
Thailand receives better scores in almost all components of this 12-pillar index, particularly in financial market development for which the country receives a score of 84.19. However, the report suggests the kingdom continues to improve its research and development, internal competitiveness and politics.
According to the WEF, the Thai government’s infrastructure investment will lead to better use of technology and innovation. Furthermore, clarity of the general election will help improve the country’s ranking next year.