On November 18, the 2019 International Institute of Management Development’s (IMD) World Talent Ranking (WTR) report was released. In the released report, India was ranked at 59th position in 2019, a slip by 6 places (53rd rank in 2018) on the global annual list of 63 countries, due to factors such as low quality of life and education expenditures. The list was topped by Switzerland.
Top 10 countries: The top 10 countries that followed Switzerland are Denmark(2nd), Sweden(3rd), Austria(4th), Luxembourg (5th), Norway(6th), Iceland(7th), Finland (8th), Netherlands (9th) and Singapore(10th).
i.Key indicators: the ranking was done based on 3 key indicators/ categories. They are investment and development, appeal and readiness.
ii.BRICS nations: Among the BRICS (Brazil, Russia, India, China and South Africa) nations, China was ranked at 42nd position, Russia at 47th position and South Africa was ranked 50th in the list.
iii.India’s ranking factor: India’s rank of 59th position was due to several factors which includes expenditure on education (per student), quality of education linked to the Gross Domestic Product(GDP) growth etc. India also witnessed one of the sharpest declines among the Asian countries.
- Regionwise, Europe topped the list in fostering the best conditions for competitiveness in a skills-scarce global economy.
- In Asia, Singapore, along with Hong Kong Special Administrative Region(SAR) (15th) and Taiwan (20th) lead in terms of talent competitiveness due to the readiness of talent pool.
About International Institute of Management Development:
Location- Lausanne, Switzerland.
President- Jean Francois Manzoni.