According to the World Economic Forum (WEF)’s Global Competitiveness Report for 2014-2015, Thailand has advanced 6 spots in terms of global competitiveness from its last year ranking of 37th. Thailand gradually moved up from 39th in 2011-2012, to 38th in 2012-2013, and 37th in 2013-2014 rankings. Currently, Thailand ranks 31st in the World and 10th in Asia.
The ranking has been based on 12 different factors that played a critical role in moving the Thai economy forward such as the nation’s infrastructure, macroeconomic environment, and efficiency in its labor workforce.
The Report’s Global Competitiveness Index (GCI) showed that Switzerland maintains the No.1 ranking for six years in a row. It is followed by Singapore, the United States, Finland, Germany, Japan, Hong Kong and the Netherlands, the United Kingdom and Sweden.