In the latest edition of the IMD World Competitiveness Ranking, Singapore has held on to its No.1 position for a second straight year in the annual list of 63 economies that analyses their ability to generate prosperity.
Factors behind Singapore’s success includes
- Its strong economic performance arising from robust international trade and investment, employment and labour market measures
- the relative ease of setting up business
- the availability of skilled labour
- cutting-edge technological infrastructure
- stable performance in Singapore’s education system
- stable performance in its technological infrastructure – telecommunications, Internet bandwidth speed and high-tech exports
