The research arm of Switzerland-based business school, the International Institute for Management Development IMD recently released the results of its survey on the talent competitiveness of 63 countries from around the world. Based on the rankings, the Philippines managed to jump up to 49th place from 55th last year. Regardless of the jump, the ASEAN country, unfortunately, still performed the worst when compared to other bloc members. The World Talent Ranking looks at three main factors when determining how to rank a country. While a simple example of the investment and development factor would be whether a country is able to provide education to its citizens, the readiness factor seems to indicate that it is also important to look at the quality of the education provided. This, according to the study, is where countries like the Philippines fall short.
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Addressing widespread poverty is the single most important policy challenge facing the Philippines. Not only is poverty high when benchmarked against countries in Asia, but also the rate of poverty reduction has been slow. While the Philippine economy has grown at an average of 6 percent for the last five consecutive quarters since , poverty incidence remains above 20 percent of the population.