Thailand rises 5 places to 25th in World Competitiveness Ranking 2024, 2nd in ASEAN

The International Institute for Management Development (IMD) has unveiled its recent report on the World Competitive Yearbook 2024, which showed that Thailand’s competitiveness ranking for this year has improved by five positions from 2023, placing it at 25th out of 67 economies worldwide and second in ASEAN, following Singapore.

Thailand showed improvement in various criteria used to evaluate an economy’s overall competitiveness, including Economic Performance, with fifth place in this year’s ranking (16th last year); Business Efficiency, ranked 20th (24th in 2023); Government Efficiency, ranked 24th (23rd in 2023); and Infrastructure, ranked 43rd (same as 2023).

In a comparison of ASEAN countries, Singapore ranks first, Thailand is 25th, Indonesia 27th, Malaysia 34th, and the Philippines 52nd. 

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