, Singapore
270 views
Photo by Kharl Anthony Paica on Unsplash

Singapore rises to 3rd place in world competitiveness ranking

In Asia-Pacific, Lion city ranked first.

Singapore was named 3rd most competitive market in the world and first in the Asia-Pacific by the IMD World Competitiveness Center.

Under the IMD World Competitiveness ranking, markets are scored based on economic performance, government efficiency, business efficiency, and infrastructure.

In the abovementioned factors, Singapore placed 2nd (81.09 pts), 4th (87.63 pts), 9th (84.28 pts), and 12th (76.21 pts), respectively. Overall, Singapore scored 98.11, landing behind Switzerland (98.92, 2nd) and Denmark (100, 1st).

Last year, Singapore placed 5th overall.

To stay competitive, the IMD said Singapore must navigate challenges posed by external economic developments, including global supply chain disruptions and elevated energy and commodity prices.

The Lion City must likewise support the economic recovery of sectors that continue to be affected by the COVID-19 pandemic, help businesses transition towards a low-carbon future, and ensure that workers continuously develop new skills and sharpen existing ones to meet labour demand in growth sectors.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Here’s what an advanced security firm looks like
AETOS offers training courses on security, technology, and facilities management. 
Why long-term investments are key to surviving inflation
BetterTradeOff CEO Laurent Bertrand recommends investing in alternative asset classes.
What hinders manufacturing firms from lowering their carbon footprint
Chevron Singapore Country Chairman Law Tat Win said the right policies and partnerships are needed for a cleaner energy shift.
Manufacturing