Under the data provided by Thailand Management Association, Thailand faces a number of challenges in 2011 including higher commodity prices, labour shortages in the manufacturing sector, infrastructure investment, and political division.
Among 59 economies, Thailand's best place lies in the labour market (2nd). Its worst weakness is in health and environment (54th). It was also poor in terms of education (51st) and technology infrastructure (52nd).
While Thailand's ranking dropped from the 26th last year, several Asian economies witnessed an improvement in the ranking. Notably, Hong Kong's overall competitiveness ranking moved up from the 2nd place to the first place, tied with the US which last year was in the third place.
In the top 10 list, Hong Kong and the US were followed by Singapore, Sweden, Switzerland, Taiwan, Canada, Qatar, Australia and Germany.
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