'Looks' is but ONE of the factors Miss World contestants are judged on apparently. Personality, Grace, Wit are supposedly other important factors. But these contest are mainly venues and thinly veiled excuses to promote global beauty brands and toiletries, starting with, (you guessed it) Lux Soap.
These contests are followed more by younger teen women nowadays (especially in the subcontinent), and unfortunately are subjects of intense drama and controversy in social media. There is a lot of tie-ins for beauty merchandising products too like makeup, shampoo etc. and Indian subcontinent is a huge market for the likes of L'oreal, Revlon etc. Hence selecting subcontinental women as Miss World, Miss Universe etc.
As makeup products and toiletries in the subcontinent move upmarket (from Soap to Facial Cream to skin peel) with gains in per capita income, the brands by the likes of UniLever are right there to fill the need.
Vanity - thy name is woman.
Going by social media comments, most young teen women think that they alone are the most beautiful in this world. To them, any Miss World contestant are ugly 'also-rans'.