Thailand has climbed three spots to 30th place in the World Competitiveness Ranking released on Tuesday by the International Institute for Management Development (IMD).
It improved in all four main indicators used to compile the rankings, but “infrastructure” remains its weak link.
The country jumped to 16th place from 34th last year in economic performance. It also rose to 24th from 31st in government efficiency and to 23rd from 30th in business efficiency. However, it only edged up one spot to 43rd place in the infrastructure category.
Thailand ranked 25th overall in 2019 and 33rd last year.
Denmark, Ireland and Switzerland were the top three countries, respectively, among the 64 economies measured in the 35th annual edition of the influential survey.
“All three are small economies that make good use of their access to markets and trading partners — as does Singapore, which came fourth,” Switzerland-based IMD said.
“Navigating today’s unpredictable environment requires agility and adaptability,” said Christos Cabolis, chief economist of the IMD’s World Competitiveness Center.
