Thailand's world competitiveness ranking slipped three spots this year, mainly due to government inefficiency and budget deficits. According to the latest edition from the World Competitiveness Center, a research group at IMD business school in Switzerland, Thailand's ranking fell to 30th from 27th in 2017.
The top five most - competitive economies in the world remained the same as the year before, but the order changed. The US returned to the top spot, followed by Hong Kong, Singapore, the Netherlands and Switzerland. The US rose three spots from last year, while Hong Kong dropped one spot and Singapore remained third.
Thailand was one of three Asean nations that saw their rankings drop, with Indonesia down one spot at 43rd and the Philippines down nine spots at 50th.
Source: Bangkok Post