Singapore ranked world's most competitive economy in 2024

Singapore has been ranked the world's most competitive economy this year, according to a survey by academic institute IMD. Switzerland is second in place, with Denmark in third. Over 6,000 business leaders rated Singapore out of 67 economies. They cited three top factors: Business efficiency in the form of a strong labour market, good attitudes and values locally, and technological infrastructure.

Singapore has been ranked the world's most competitive economy this year, according to a survey by academic institute IMD. Switzerland is second in place, with Denmark in third. Over 6,000 business leaders rated Singapore out of 67 economies. They cited three top factors: Business efficiency in the form of a strong labour market, good attitudes and values locally, and technological infrastructure.

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Singapore maintains 2024 GDP growth forecast at 1% to 3%; economy grew 2.7% in Q1On a quarter-on-quarter seasonally adjusted basis, Singapore's economy expanded by 0.1 per cent, moderating from the 1.2 per cent growth in the preceding quarter.
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