Singapore ranked high in terms of labour market, attitudes and values, and technological infrastructure, but conversely was less competitive on price, health and environment, and societal framework.
Singapore reclaims the top spot as the world’s most competitive economy in 2024, up from fourth place a year ago, according to the International Institute for Management Development (IMD) World Competitiveness Ranking on June 18.
This is the first time Singapore has been ranked number one since 2020, and has outperformed other economies such as Switzerland and Denmark, says IMD. IMD assesses 67 global economies, over survey data and 164 pieces of statistical data between March and May 2024.
