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. Professor Arturo Bris, who leads the World Competitiveness Ranking at IMD, shared why this ranking matters to Singapore.