Surprisingly, we are not in a bad global economic position after all. The Philippines ranks 71st in the recent Global Competitiveness Index (GCI) report conducted for the 2007-2008 World Economic Forum (WEF).
Developed for the World Economic Forum by Professor Xavier Sala-i-Marin, the Global Comeptitiveness Index (GCI) measures the competitiveness of nations using economic statistics and extensive polling of international business leaders.
The global competitiveness of a country is affected by a hundred and one factors influenced mainly by its political and socio-economic policies. There are no absolutes to this case, as the study does not only magnify a country’s strength but also help expose its weak spots. The United States, for example, enjoys top scores in venture-capital, domestic market and low incidence of manpower layoffs. But their scores fail in their ability to fend off organized crimes and putting a stop to their increasing national debt.
The Philippines climbed 5 slots higher than its 2006 rank. We are being closely watched by investors abroad as a potential business site. And obviously, we have succeeded in attracting some to our shores (hello, BPO’s) while others pulled out to China where labor is relatively cheap. Nevertheless, we share the spotlight with other performing economies and somehow, this helps boost investor-confidence.
Global Competitiveness Report
Year 2007
United States 1
Switzerland 2
Denmark 3
Sweden 4
Germany 5
Finland 6
Singapore 7
Japan 8
United Kingdom 9
Netherlands 10
South Korea 11
Hong Kong 12
Canada 13
Taiwan, China 14
Austria 15
Norway 16
Israel 17
France 18
Australia 19
Belgium 20
Malaysia 21
Ireland 22
Iceland 23
New Zealand 24
Luxembourg 25
Chile 26
Estonia 27
Thailand 28
Spain 29
Kuwait 30
Qatar 31
Tunisia 32
Czech Republic 33
China 34
Saudi Arabia 35
Puerto Rico 36
UAE 37
Lithuania 38
Slovenia 39
Portugal 40
Slovak Republic 41
Oman 42
Bahrain 43
South Africa 44
Latvia 45
Italy 46
Hungary 47
India 48
Jordan 49
Barbados 50
Poland 51
Mexico 52
Turkey 53
Indonesia 54
Cyprus 55
Malta 56
Croatia 57
Russia 58
Panama 59
Mauritius 60
Kazakhstan 61
Uzbekistan 62
Costa Rica 63
Morocco 64
Greece 65
Azerbaijan 66
El Salvador 67
Vietnam 68
Colombia 69
Sri Lanka 70
Philippines 71
Brazil 72
Ukraine 73
Romania 74
Uruguay 75
Botswana 76
Egypt 77
Jamaica 78
Bulgaria 79
Syria 80
Algeria 81
Montenegro 82
Honduras 83
Trinidad and Tobago 84
Argentina 85
Peru 86
Guatemala 87
Libya 88
Namibia 89
Georgia 90
Serbia 91
Pakistan 92
Armenia 93
Macedonia, FYR 94
Nigeria 95
Dominican Republic 96
Moldova 97
Venezuela 98
Kenya 99
Senegal 100
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