Singapore Retains Top Spot as World’s Most Competitive Economy

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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

Source: https://www.straitstimes.com/business/economy/singapore-retains-top-spot-as-worlds-most-competitive-economy-0