Thailand secures 10th spot in Asia Pacific in 2023 World Talent Ranking
Thailand proudly claims the 10th position in the Asia Pacific region, according to the 2023 World Talent Ranking (WTR) conducted by the International Institute for Management Development (IMD). The latest 2023 WTR report reveals Thailand’s respectable standing at 45th place among the 64 countries assessed.
This accomplishment, coupled with a global ranking of 29th in the appeal category, solidifies Thailand’s ability to attract and retain talent, both from within the country and abroad.
The IMD’s 2023 WTR emerges as a critical evaluation tool amid the persistent impact of the Covid-19 pandemic on talent competitiveness worldwide. Undeterred by these global challenges, Switzerland holds its ground, maintaining the top position, with Luxembourg and Iceland hot on its heels. Singapore, the lone Asian country, secures a place within the top ten, standing proud at the eighth position.
The 2023 WTR edition is a product of meticulous study and analysis of 64 economies. The research hinges on 31 distinct criteria, incorporating a blend of hard data and survey responses from executives. This comprehensive approach yields a reflection of each economy’s global talent competitiveness. These criteria are then systematically categorised into three factors.
Investment and Development, the first factor, delves into the commitment level of domestic resources towards nurturing local talent. The second factor, Appeal, concentrates on the capability of an economy to draw in and retain talent, from both local and international spheres. Lastly, Readiness scrutinises the quality and readiness of skills and competencies available in the talent pool.
The study unveils a sombre reality, most regions are yet to regain their pre-pandemic levels of talent competitiveness. It also shines a light on the shift in work paradigms. As economies evolve towards being more service-oriented, the need for employees to physically inhabit the same country as their employers is dwindling.
Global talent landscape
The WTR’s findings not only provide a clear snapshot of the current global talent landscape but also offer insights into the transformative changes occurring within the world of work.
As the dust of the pandemic begins to settle, the stage is set for economies to reassess and realign their strategies to attract, develop, and retain talent.
Thailand’s commendable performance in the 2023 WTR is a testament to its ongoing commitment to cultivating a vibrant and competitive talent ecosystem, ready to face the challenges and opportunities of the future.
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