According to the report "Global Competitiveness Report 2014-2015" from the World Economic Forum (WEF), the Philippines climbed seven spots from 59th to 52nd. WEF noted that the reforms implemented by President Aquino’s administration were key factors for this improvement.
WEF even noted that the since 2010, the Philippines has climbed 33 spots which is the largest out of all the countries included in the list.
Over 144 countries were analyzed in the list across 100 factors, which were then grouped into 12 pillars. Within these pillars, positive and even impressive figures were seen.
The Philippines bested in the categories of institutions, innovation, goods market efficiency, and macroeconomic environment. It was also cited as the fifth in Southeast Asia, surpassing Vietnam, Cambodia, Myanmar, and Lao People’s Democratic Republic. The top four in the region are Singapore, Malaysia, Thailand, and Indonesia.
The Philippines displayed the biggest improvement within the ASEAN region and is closely followed by Thailand, which improved from 37th last year to 31st this year.