TAIPEI (Taiwan News) — Taiwan climbed to 17th place in the International Institute for Management Development’s World Talent Ranking, cementing its place as Asia’s third-strongest talent hub.

The IMD evaluates countries across three categories: investment and development, appeal, and readiness, per CNA. Taiwan ranked 21st, 16th, and 11th, reflecting strengths in workforce readiness and competitiveness.

In Asia, Taiwan trailed only Hong Kong in fourth place and Singapore in sixth. Switzerland topped the global list, followed by Luxembourg and Iceland, with Hong Kong, the Netherlands, Sweden, Singapore, Denmark, the UAE, and Australia rounding out the top 10.

The report noted that talent mobility has shifted since the COVID-19 pandemic. While quality of life, culture, and language once dominated decisions, financial security and tangible benefits now weigh more.

Geopolitical instability, inflation, and rising living costs are increasingly shaping executives’ willingness to work abroad. These trends have pushed companies and governments to rethink how they attract and retain high-level talent.

Jose Caballero, Senior Economist at IMD’ World Competitiveness Center, explained that financial incentives have become effective in countries facing volatility. In contrast, he said executives in stable economies place less value on such perks.