Singapore keeps 3rd spot in global ranking of competitiveness

Singapore

SINGAPORE has stayed in third place in an annual world competitiveness ranking of 63 economies topped this year by the United States, which made its first return to pole position since 2015.

In the ranking by Swiss business school IMD, Hong Kong slipped to second spot from first place in 2017, despite a strong performance in government and business efficiency. It kept its lead over its long-time rival Singapore, which held on to its ranking largely because of strong government efficiency.