Singapore climbed from eighth to seventh place in the World Economic Forum’s latest ‘global competitiveness index’ and leads the among Asian economies. The annual survey, released on Wednesday, found the United States had retained its status as top dog while Japan suffered a significant drop, falling from fifth to eighth.
The United Kingdom fell from second to ninth.
The rankings are based on a range of factors including quality of institutions, infrastructure, health, education and training, market efficiency, technological readiness and innovation in a country.
Over 11,000 business leaders were polled in a record 131 countries with their main strengths and weaknesses listed.
Singapore ranked top in indicators such as public trust of politicians, transparency of government policy making, quality of infrastructure and its educational system. (story)
Singapore News 