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Singapore is the world’s most competitive economy in 2024: IMD

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pemThe city-state also held the top spot in 2020./em/p pSingapore was named the world's most competitive market this year after climbing three places from the fourth spot in 2023, according to the latest IMD World Competitiveness Ranking./p pThe Lion City dethroned Denmark from the No.

Singapore was named the world's most competitive market this year after climbing three places from the fourth spot in 2023, according to the latest IMD World Competitiveness Ranking.

Specifically, Singapore ranked second in both international trade and international investment, while it continued to score highly in the domestic economy category. Its performance in employment and prices, meanwhile, slipped. On the flip side, it said the tech-savvy nation can take advantage of the opportunities emerging in new technologies like AI.

Singapore’s financial hub rival, Hong Kong, climbed two spots and placed fifth in this year’s rankings, while Taiwan was the only other Asian country to make it to the top 10. Economic powerhouses USA and China ranked 12th and 14th, respectively.Now in its 36th year, the IMD World Competitiveness Ranking assesses the progress of 67 economies worldwide by measuring the quality of institutions, human development, quality of life, and quality of government....

 

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Singapore ranked world's most competitive economy in 2024Singapore 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.
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