Thailand remained 43rd out of 63 economies in the talent competitiveness ranking by the Institute for Management Development (IMD), pressured by a decline in public expenditure on education and labour force growth.
The pandemic weakened countries that base their overall competitiveness on the talent economy as a large part of this is attracting talent from abroad, said the IMD.
Among this group are Singapore, Australia, the US and the UK, which have a long history of welcoming foreign students.
“Talent across borders will play a key factor in the post-Covid economic recovery,” said Christos Cabolis, chief economist at the IMD World Competitiveness Center (WCC).
“These countries cannot be sure to lure the best workers for the time being, and may well look into other ways to be competitive.”
There is a risk they will decide to turn inwards in their efforts to…
