Singapore dethroned as world's most competitive economy in 2025: IMD

The city-state is now second to Switzerland.

Singapore was named the world's second-most competitive market this year after falling one place from the first spot in 2024, according to the latest IMD World Competitiveness Ranking.

It was dethroned by Switzerland from the number one spot, as the city-state declined in the government, business efficiency, and infrastructure rankings.

Despite this, Singapore ranked first in both international trade and technological infrastructure, whilst it continued to score highly in the institutional framework and business legislation.

Meanwhile, its performance in prices and health, and environment slipped.

IMD said the city-state will face challenges in enhancing its economic competitiveness amidst resource constraints, seizing opportunities, and managing disruptions from new technologies this 2025.