1 July 2010 | Andy Allen
Access to talent will be the key factor behind countries such as China and India increasing their manufacturing success at the expense of the UK and US.
The 2010 Global Manufacturing Competitiveness Index by Deloitte and the US Council on Competitiveness said access to talented workers was more important than factors typically associated with competitive manufacturing such as labour, materials and energy.
The report predicted that the manufacturing strength of traditional powers such as the US, UK, Italy, Germany and Japan would give way to China, India and Russia.
The UK came 17th in a global competitiveness league table which was devised according to a survey of more than 400 CEOs and senior manufacturing executives worldwide. By 2015 it will have fallen three places to 20th, the authors said.
Thailand, Poland and Mexico will be surprise winners in the new world manufacturing league table alongside the recognised up-and-coming economies, they added.
“All Western European nations show an expected decline in rank over the next five years, which should be a cause for concern across the continent,” says Hans Roehm, global managing partner at the Deloitte Global Manufacturing Industry Group.