India advances three spots to 51 on IMD World Talent Ranking

Lloyd Doyle
November 21, 2017

The alpine country once again tops the list of 63 competitive economies in the annual World Talent Ranking by the Institute for Management Development (IMD), which assesses the methods countries use to attract and retain talent.

Austria and Finland both moved up one place on previous year to complete the top five.

IMD World Talent Rankings 2017: India is ranked 51 in overall performanceIt is, according to a statement released by the Rankings, European countries' outstanding education systems that set them apart from the rest of the pack.

European economies perform well in all three talent components of the ranking - appeal, readiness, and investment and development.

This indicates that the perception of Malaysia as a potential country of choice for working professionals, both domestic and global, has dropped in the a year ago.

The Philippines placed 60th in terms of public expenditure on education, with the government spending only 2.7 percent of its GDP for the sector.

"Hong Kong and Singapore both compete fiercely for the best foreign workers and do so with great success", said Professor Arturo Bris, Director of the IMD World Competitiveness Centre. In the category of investment and development, India's ranking declined from 60 to 62; in terms of appeal, it declined from 41 to 43; and in terms of readiness, India's ranking went down from 28 to 29.

On average, the US invests less in developing local talent when compared with its peers on the global stage. He stated that factors like remuneration levels, quality of life and property rights are hindering domestic employment and that investment in education is weak.

From the BRICS bloc, China stayed in the lead with a ranking of 40, followed by Russian Federation at 43 and South Africa at 48. Despite its decent ranking, the report is an indication that Taiwan should be aware of its diminishing talent pool.

As for the Appeal, Taiwan performs fairly well on effective personal income tax rate, but exhibits inconsistent performance on indicators like the cost-of-living index, brain drain and foreign highly-skilled personnel.

Readiness is related to labour force growth, skilled labour, finance skills, worldwide experience, competence of senior managers, educational system, science in schools, university education, language skills, student mobility inbound, and educational assessment.

In IMD World Talent Rankings 2017, among the BRICS countries, South Africa must increase its investment in developing local talent if it is to deliver the high-quality workforce its businesses need to thrive.

Other reports by Iphone Fresh

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