Singapore is among the smallest countries in the world in terms of area. However, it still ranks among some of the top countries in various standings. Singapore is among the most influential countries in Asia and around the globe. Some of the statistics that Singapore ranks at the top among are as follows.
1. World’s Most Competitive Economies
Singapore tops the list of the world’s most competitive economies. It has a lead over countries, including the United States, Hong Kong, Netherlands, Switzerland, Japan, etc. Similarly, Singapore has maintained its position on the list for a second consecutive year after 2019. This index evaluates the microeconomic and macroeconomic foundations of the national competitiveness of each country.
2. World’s Most Connected Countries
According to a DHL report, Singapore is the 2nd most connected country in the world. It lags behind the Netherlands in connectivity while beating Switzerland, Belgium, UAE and other countries. Singapore and the UAE are the only two non-European countries in the top 10.
3. Ease of Doing Business
Singapore ranks 2nd on the Ease of Doing Business Index provided by the World Bank Group by two leading economists, Simeon Djankov and Gerhard Pohl. The report considers various factors such as starting a business, dealing with permits, registering property, getting credit, etc. Singapore ranked 1st for ten consecutive years on the list from 2007 to 2016. However, it lost its position to New Zealand after that time.
4. Economic Freedom
The Economic Freedom index created by The Heritage Foundation and The Wall Street Journal measures the degree of a nation’s economic freedom. Singapore ranked 1st on the index in 2021. It was also the 1st country by Economic Freedom in 2020, beating the 2019 leaders, Hong Kong.
5. Easiest Place to do Business in Asia
According to an index provided by the TMF Group, Singapore ranks 2nd on the “Easiest Place in Asia to do Business” study. Singapore only lags behind Hong Kong in its ease of business. This index considers indicators such as legislation, tax regimes, human resources rules and accounting procedures.
6. Least Corrupt Nation
Singapore ranks 3rd on the Corruption Perceptions Index among the least corrupt nations. It is third to countries such as Denmark and New Zealand. This index considers several factors and takes into account various assessments and surveys when ranking countries. This ranking places Singapore as the least corrupt nation in Asia, a title which it has held since 1995.
7. Most Innovative Nation
The Global Innovation Index ranks countries by their success and capacity for innovation. This ranking comes from Cornell University, INSEAD and the World Intellectual Property Organization. In the 2020 list, Singapore ranks 8th behind leaders such as Switzerland, Sweden, USA, UK, etc. Singapore is also 1st among the Asian countries on the list.
8. Top Investment Destination
The top investment destination rankings evaluate countries according to business and investment environments. Similarly, it considers factors such as corruption freedom, workforce, investor protection, infrastructure, etc. Singapore ranks 1st on the list, beating countries such as the UK, Poland, Indonesia, India, etc.
9. Best Country for Relocation
According to a survey by management consulting firm Boston Consulting Group and global recruitment alliance The Network, Singapore is the 8th best country for relocation. It ranks behind leaders such as Canada, the US, Australia and Germany. It is the 2nd Asian country on the list after Japan, which ranks 6th.
10. World Talent Ranking
The IMD World Talent Ranking ranks countries after accounting for three factors. These include investment and development, readiness and appeal. Singapore ranks 9th on the least, with leaders Switzerland, Denmark and Luxembourg at the top. Furthermore, Singapore ranks first among the Asian countries, with Hong Kong ranking 2nd at the 14th spot.