Photographer: Veejay Villafranca/Bloomberg

Philippines Slides Most in Asian Competitiveness Ranking: Chart

The Philippines slumped the most in Asia in a competitiveness ranking, dropping nine places to 50th of 63 economies, according to annual rankings by the Switzerland-based IMD World Competitiveness Center. Weaker tourism and employment, worsening public finances and rising concerns on education system are reasons for the decline, it said. Areas where the Philippines is most inadequate include infrastructure, legal environment and tax regime.

— With assistance by Cecilia Yap

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