Brunei Darussalam
The Land of Unexpected Treasures
The 2024 World Talent Ranking (WTR) by the Institute of Management Development (IMD) has reaffirmed Singapore’s position as a global leader in talent competitiveness. Ranked 2nd in the world and 1st in Southeast Asia, Singapore scored an impressive 85.65 points. The WTR evaluates countries based on workforce skills, the development of talent, and the ability to attract foreign workers, making Singapore’s high rank a reflection of its strong focus on creating a skilled, adaptable workforce.
Singapore’s talent competitiveness is supported by its comprehensive education system, emphasis on continuous professional development, and strategic policies to attract highly skilled workers from abroad. By maintaining this balance, Singapore has successfully positioned itself as a global hub for business and innovation, drawing in foreign talent while also fostering the growth of local professionals.
Indonesia’s Position and the Challenges Ahead
Indonesia ranks 3rd in Southeast Asia and 46th globally, with a score of 53.4 points. Although lower in comparison to Singapore, Indonesia's performance demonstrates progress in talent development within the region. The country has made strides in improving its workforce skills and investing in education and training programs aimed at building a more competitive labor force.
However, there are challenges that Indonesia still faces in attracting foreign talent and developing local capabilities to meet the demands of an evolving global economy. To improve its ranking, Indonesia will need to focus on enhancing the quality of its education system, offering more opportunities for skill development, and creating an environment that attracts skilled foreign workers while retaining local talent.
Thailand and the Philippines: Room for Improvement
Thailand is ranked 47th globally in the WTR, with a score of 52.59 points, putting it behind Indonesia in the regional ranking. This position reflects Thailand’s growing efforts to enhance its workforce competitiveness but also highlights the need for more targeted strategies to improve talent development and attraction.
Meanwhile, the Philippines faces significant challenges in this regard, with a score of 35.44 points, placing it further down the global ranking. While the country has a large and young workforce, issues such as education quality, skill mismatches, and limited opportunities for professional growth hinder its progress. Both Thailand and the Philippines will need to address these systemic issues to improve their standing in the global talent landscape.
The Importance of Talent Competitiveness in Southeast Asia
The rankings provided by the IMD highlight the varying levels of talent competitiveness across Southeast Asia, with Singapore standing out as a regional leader. As countries in the region continue to integrate into the global economy, their ability to develop, retain, and attract skilled workers will play a crucial role in driving economic growth and innovation.
For Southeast Asian countries, the focus on improving education, providing lifelong learning opportunities, and fostering environments conducive to attracting international talent will be critical to staying competitive in the global marketplace. While Singapore sets a high standard, other nations like Indonesia, Thailand, and the Philippines have room for growth and the potential to significantly improve their rankings in the coming years.
