Thailand faces slump in global ranking, rising regional competition

May 22nd, 2006 by admin

Plagued by political turmoil, Thailand is becoming less competitive internationally, analysts say, warning the kingdom is being overtaken by regional rivals in the eyes of foreign investors.
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In the latest report of the Institute for Management Development (IMD), a Switzerland-based non-profit management school, Thailand slipped five places to 32nd among 60 countries ranked according to their economic competitiveness.
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Among the key factors weighing against Thailand were political instability and inconsistent government policies.
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In contrast, Malaysia moved up five places to 23rd, while China and India each jumped by ten places to 19th and 29th respectively.
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Thai business leaders said politics is undoubtedly one of the reasons behind the country’s falling competitiveness.
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Thailand’s courts have invalidated last month’s snap elections and ordered new polls under judicial supervision.
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So far, authorities haven’t even been able to agree on a date for new elections, after the courts rejected the October 22 date proposed by the election commission.
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