Thailand has secured the 10th position in the Asia Pacific region, according to the 2023 World Talent Ranking (WTR) by the International Institute for Management Development (IMD).
According to the recent 2023 WTR edition published by IMD, Thailand ranks 10th among those within the Asia Pacific region (APAC) and 45th overall from 64 countries assessed in the WTR. The country also ranks 29th globally in the area of appeal, which evaluates the ability to attract and retain talent from both international and domestic markets.
Despite the long-lasting effects of the COVID-19 pandemic playing a determining role in the talent competitiveness landscape, Switzerland has maintained its top spot in the 2023 WTR, followed by Luxembourg and Iceland. Meanwhile, Singapore is the only Asian country in the top ten, ranking eighth.
The 2023 edition studied 64 economies by quantifying 31 criteria that involve both hard data and survey responses from executives, reflecting the global talent competitiveness of each economy. Each criterion was then organized into three factors: Investment and development, which considers the domestic resources committed to developing homegrown talent; Appeal, which assesses the ability to attract and retain talent from both international and domestic markets; and Readiness, which quantifies the quality of the available skills and competencies in the talent pool.
The study shows that most regions have not been able to return to pre-pandemic levels of talent competitiveness. It also shows that as economies become more service-oriented, the physical presence of employees in the country of their employers is no longer needed.