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COUNTRYPROFILE PHILIPPINES
IMD World Competitiveness Yearbook 2021, Digital 2021, Talent 2020: summaries
WORLD COMPETITIVENESSRANKING 2021
All data are available from theWorld Competitiveness Online.
Visit our eShop
1
BASIC FACTSCapital
Land area (square km '000) 3002020
Exchange Rate (per $) 49.6242020
Population - market size (millions) 108.772020 9
Gross Domestic Product (GDP) (US$ billions) 362.22020 30
GDP (PPP) per capita (US$) 8,4522020 62
Real GDP growth (%) -9.52020 59
Consumer price inflation (%) 2.642020 46
Unemployment rate (%) 10.262020 53
Labor force (millions) 43.652020 10
Current account balance (% of GDP) 3.582020 20
Direct investment stocks inward ($bn) 88.02019 46
Direct investment flows inward (% of GDP) 2.302019 32
PEER GROUPS RANKINGSASIA - PACIFIC (14 countries) POPULATIONS > 20 MILLION (29 countries)
OVERALL PERFORMANCE (64 countries) Rank
Manila
CHALLENGES IN 2021Ensuring inclusive economic recovery and quickly reviving business
and consumer confidence.
Asian Institute of Management, Rizalino S. Navarro Policy Center
for Competitiveness
COMPETITIVENESS LANDSCAPE
COMPETITIVENESS TRENDS - OVERALL
PHILIPPINES
41 50 46 45 52
2017 2018 2019 2020 2021
58
46 49 50 5042
13
52 5450 50
27
41
31 33
57
47
58 57 60
Dom
estic
Eco
nom
y
Inte
rnat
iona
l Tra
de
Inte
rnat
iona
l Inv
estm
ent
Empl
oym
ent
Pric
es
Publ
ic F
inan
ce
Tax
Polic
y
Inst
itutio
nal F
ram
ewor
k
Busi
ness
Leg
isla
tion
Soci
etal
Fra
mew
ork
Prod
uctiv
ity &
Effi
cien
cy
Labo
r M
arke
t
Fina
nce
Man
agem
ent
Prac
tices
Att
itude
s an
d V
alue
s
Basi
c In
fras
truc
ture
Tech
nolo
gica
l Inf
rast
ruct
ure
Scie
ntifi
c In
fras
truc
ture
Hea
lth a
nd E
nvir
onm
ent
Educ
atio
n
Economic Performance Government Efficiency Business Efficiency Infrastructure
11
13 13 13 13
2017 2018 2019 2020 2021
16 21 20 19 21
2017 2018 2019 2020 2021
• Ensuring inclusive economic recovery and quickly reviving business and consumer confidence.
• Effectively controlling the COVID-19 epidemic and implementing full vaccination rollout.
• Building resilient social infrastructure especially in health and education.
• Sustaining increased investments in physical and digital infrastructure.
• Maintaining fiscal health while adequately providing stimulus and support especially for vulnerable sectors.
Provided by:Asian Institute of Management, Rizalino S. Navarro Policy Center for Competitiveness
2
IMPROVEMENTSWCY 2020
WCY 2021 DECLINES
WCY 2020
1.2.02 Current account balance -0.13 3.58 1.1.18 Gross fixed capital formation - real growth 1.51
1.1.13 Economic complexity index 0.38 0.70 3.2.14 Labor force long-term growth 0.82
2.3.07 Foreign currency reserves per capita 811 1,012 4.4.09 Medical assistance
2.5.02 Homicide 8.41 6.46 1.4.04 Employment - long-term growth 2.14
4.3.18 Number of patents in force 0.7 0.8 2.1.02 Government budget surplus/deficit (%) -1.11
4.2.07 Internet users 436 529 1.1.15 Real GDP growth per capita 4.27
3.3.01 Banking sector assets 94.66 111.36 1.1.14 Real GDP growth 5.9
1.2.25 Tourism receipts 2.25 2.60 2.3.08 Exchange rate stability 0.024
3.4.11 Women in management 25.51 29.31 1.4.07 Unemployment rate 5.06
4.4.26 Pollution problems 3.38 3.87 4.3.10 Researchers in R&D per capita 0.2
4.1.20 Electricity costs for industrial clients 0.156 0.136 1.4.09 Youth unemployment 14.44
2.4.17 Unemployment legislation 4.40 4.97 2.3.13 Bribery and corruption 1.87
4.5.04 Pupil-teacher ratio (primary education) 29.08 27.00 2.1.07 Public finances 4.67
4.1.04 Access to water 5.67 6.00 2.1.09 Pension funding 4.29
1.4.10 Youth exclusion 19.9 18.8 1.2.13 Exports of commercial services (%) 11.51 8.61
-27.48
-5.46
-10.75
-9.5
0.073
10.26
0.1
3.17
COMPETITIVENESS EVOLUTION & ATTRACTIVENESS INDICATORS
PHILIPPINESCOMPETITIVENESS EVOLUTIONThe criteria below highlight the 15 biggest Improvements and the 15 biggest Declines in the overall performance of the economy. They are
determined by the largest percentage changes in the value of each criterion from one yearbook to the next.
WCY 2021
KEY ATTRACTIVENESS INDICATORSFrom a list of 15 indicators, respondents of the Executive Opinion Survey were asked to select 5 that they perceived as the key
attractiveness factors of their economy. The chart shows the percentage of responses per indicator from the highest number of responses
to the lowest.
19.44
1.33
3.45
-5.11
-9.46
4.8%5.8%6.7%6.7%7.7%7.7%21.2%26.0%30.8%34.6%52.9%52.9%62.5%64.4%87.5%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Competitive tax regimeCompetency of government
Policy stability & predictabilityReliable infrastructure
Effective legal environmentStrong R&D culture
Effective labor relationsBusiness-friendly environment
Quality of corporate governanceAccess to financing
Dynamism of the economyCost competitivenessHigh educational level
Open and positive attitudesSkilled workforce
3
WORLD COMPETITIVENESSDIGITAL RANKING 2021
All data are available from theWorld Competitiveness Online.
Visit our eShop
4
Alpha AlphaLabelBeta BetaLabel Gamma GammaLabel1 2 2 2 2 2 24 4 4 2 2
6.5 4 4 2 28.5 4 4 2 211 4 4 2 2
2017 2018 2019 2020 2021
46 56 55 57 58
53 50 51 62 63
51 58 55 53 54
43 52 54 54 57
OVERALL
Future readiness
COMPETITIVENESS & DIGITAL RANKINGS
PEER GROUPS RANKINGS
ASIA - PACIFIC (14 countries) POPULATIONS > 20 MILLION (29 countries)
Knowledge
Technology
DIGITAL TRENDS - OVERALL
PHILIPPINES
OVERALL PERFORMANCE (64 countries)
OVERALL & FACTORS - 5 years
4656 55 57 58
4150 46
45 52
2017 2018 2019 2020 2021
Digital
Competitiveness
1112 12
13 13
2017 2018 2019 2020 2021
18 23 22 24 25
2017 2018 2019 2020 2021
63 55 61 56
54 62 40 4958
57 60 37 57
Knowledge Talent Training & education Scientific concentration
Technology Regulatory framework Capital Technological framework
Future readiness Adaptive attitudes Business agility IT integrationThe direction of the triangle indicates the performance change from the last year: improved or stabledeclined
Overall Factors Sub-Factors
N.B. This graph provides only a comparison of the country’s performance in the two rankings.
5
u Overall top strengths
w Overall top weaknesses
Subfactors 2017 2018 2019 2020 202139 48 41 55 55
54 52 54 59 61
53 50 54 56 56
Talent Rank Rank Rank
Educational assessment PISA - Math 59 35 58 International experience 32 53 56 Foreign highly-skilled personnel 42 57 u 4 Management of cities 47 55 29 Digital/Technological skills 53 u 14 60 Net flow of international students 38 51 23 53
Subfactors 2017 2018 2019 2020 202162 61 60 62 62
29 43 40 39 40
50 52 51 49 49
Regulatory framework Rank Rank Rank
w Starting a business 63 39 w 61w Enforcing contracts 62 47 54 Immigration laws 39 32 29 Development & application of tech. 42 43 w 60 Scientific research legislation 48 43 w 61 Intellectual property rights 54 u 12 u 2
Subfactors 2017 2018 2019 2020 202150 60 53 57 60
23 31 42 32 37
57 57 58 56 57
Adaptive attitudes Rank Rank Rank
E-Participation 45 38 55 Internet retailing 58 40 32 Tablet possession 56 33 50 Smartphone possession 55 37 55 Attitudes toward globalization 32 46 u 21
TECHNOLOGY
Technological framework
Capital Technological framework
Scientific concentration
Training & education Scientific concentration
Talent
Robots in Education and R&D
FUTURE READINESS
IT integration
Business agility IT integration
FACTORS BREAKDOWN - STRENGTHS AND WEAKNESSES
PHILIPPINES
Opportunities and threats E-GovernmentWorld robots distribution Public-private partnerships
Total expenditure on R&D (%)Total public expenditure on education Total R&D personnel per capita
Training & education
Adaptive attitudes
Business agility
Venture capital Internet bandwidth speedInvestment in Telecommunications High-tech exports (%)
Regulatory framework
Capital
IT & media stock market capitalization Communications technologyFunding for technological development Mobile Broadband subscribersBanking and financial services Wireless broadbandCountry credit rating Internet users
Higher education achievement Female researchersPupil-teacher ratio (tertiary education) R&D productivity by publicationGraduates in Sciences Scientific and technical employmentWomen with degrees High-tech patent grants
Employee training
KNOWLEDGE
Agility of companies Cyber securityUse of big data and analytics Software piracyKnowledge transfer Entrepreneurial fear of failure
6
WORLD TALENTRANKING 2020
All data are available from theWorld Competitiveness Online.
Visit our eShop
7
Alpha AlphaLabel Beta BetaLabel Gamma GammaLabel1 2 2 2 2 2 24 4 4 2 2
Value
3.3 % 50w 421 US$ 61w 27.13 ratio 59w 25.08 ratio 57 4.71 Survey [0..10] 44 5.80 Survey [0..10] 37 39.71 % 53 4.18 Survey [0..10] 49
Value
u 69.70 index 15 6.89 Survey [0..10] 28 6.29 Survey [0..10] 22 4.29 Survey [0..10] 44 5.27 Survey [0..10] 48 5.13 Survey [0..10] 37 12,791 US$ 43 152,973 US$ 35u 5.35 % 8 3.75 Survey [0..10] 50 18.17 micrograms 42
Value
u 2.84 % 3u 6.62 Survey [0..10] 13 6.38 Survey [0..10] 36 5.58 Survey [0..10] 38 6.24 Survey [0..10] 21 5.49 Survey [0..10] 45u 29.17 % 11 6.24 Survey [0..10] 33 6.64 Survey [0..10] 31 7.56 Survey [0..10] 20w 0.12 number 56w 350 Average 58
Investment & Development 2020 Rank
Health infrastructure meets the needs of society
2020 Rank
Total public expenditure on education Percentage of GDP
ApprenticeshipsEmployee training is a high priority in companies
Readiness 2020 Rank
Educational assessment - PISA PISA survey of 15-year olds
Appeal
Exposure to particle pollution Mean population exposure to PM2.5, Micrograms per cubic metre
Labor force growth Percentage change
Index of a basket of goods & services in the main city, including housing (New York City = 100)
Skilled labor is readily available
Cost-of-living index
Female labor force Percentage of total labor force
Pupil-teacher ratio (secondary education) Ratio of students to teaching staff
are sufficiently implemented
Total public exp. on education per student Spending per enrolled pupil/student, all levels
Pupil-teacher ratio (primary education) Ratio of students to teaching staff
Management education meets the needs of the business community
Language skills are meeting the needs of enterprises
Student mobility inbound Foreign tertiary-level students per 1000 inhabitants
Primary and secondary education meets the needs of a competitive economy
Graduates in Sciences % of graduates in ICT, Engineering, Math & Natural Sciences
University education meets the needs of a competitive economy
Finance skills are readily available
International experience of senior managers is generally significant
Competent senior managers are readily available
Justice is fairly administered
Gross annual income including supplements such as bonuses, US$
Remuneration of management Total base salary plus bonuses and long-term incentives, US$
Effective personal income tax rate Percentage of an income equal to GDP per capita
Attracting and retaining talents is a priority in companies
Worker motivation in companies is high
Brain drain (well-educated and skilled people) does not hinder competitiveness in your economy
Quality of life is high
Foreign highly-skilled personnel are attracted to your country's business environment
Remuneration in services professions
OVERALL PERFORMANCE (63 countries)
IMD World Talent Ranking 2020
PHILIPPINES
55
45
55
49 48
6163 62 61 61
38
34
38
31 31
23
11
37
26
33
2016 2017 2018 2019 2020
Overall
Investment &Development
Appeal
Readiness
61
3148
33
Investment & Development
Appeal
Readiness
The direction of the triangle indicates the performance change from the last year: improved or stabledeclined
8
2021
2021
IMD WORLDCOMPETITIVENESSYEARBOOK
IMD
Wor
ld C
ompe
titiv
enes
s Ye
arbo
ok
About the Institute for Management Development (IMD)
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