Singapore ranks 2nd in global talent ranking 2024

This made Singapore the highest-ranked country in Asia.

Singapore ranked second out of 67th in the global talent ranking 2024, climbing up six spots from eighth place in 2023, according to IMD’s World Talent Ranking (WTR).

This advancement made Singapore the highest-ranked country in Asia.

The report evaluated the countries’ talent competitiveness on three main factors: investment and development, appeal, and readiness.

Singapore’s robust performance showed in the area of readiness ranking first, specifically in skilled labour, finance skills, and competent senior managers.

In terms of appeal, which the country ranked fifth, foreign highly skilled personnel (2nd), brain drain (3rd), remuneration of management (4th), and justice (5th) were in the top five.

Meanwhile, in investment and development, which Singapore ranked 22nd, health infrastructure, employee training, and apprenticeships were placed second, fourth, and seventh, respectively.

However, Singapore’s lowest ranking indicator are cost-of-living index at 63rd and the total public expenditure on education at 65th.

In addition, the World Competitiveness Center’s (WCC) Executive Opinion Survey, which contributed to the WTR's results, revealed that artificial intelligence (AI) is transforming or replacing more jobs compared to less developed ones in developed countries.

In Singapore, Japan, Thailand, the UK, and Canada, it was revealed that senior executives were found to consider AI to be the most visible in the workplace.

However, the report also noted that AI acts as an equaliser across countries when it comes to talent competitiveness, making more competitive nations less competitive, and the less competitive nations more competitive.

Switzerland continues to hold the first position for four consecutive years since 2020, whilst Luxembourg has slipped to third place.

Meanwhile, Mongolia placed last, followed by Brazil and Venezuela at 66th and 65th place, respectively.

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