Singapore: World’s Most Competitive Economy

Singapore has officially overtaken the United States to become the world’s most competitive economy, according to a study by the World Economic Forum. The World Economic Forum examines the relationship between competitiveness, social cohesiveness and environmental sustainability. In order to be awarded the world’s most competitive economy, a country must be the most well-rounded. Some of […]

Singapore has officially overtaken the United States to become the world’s most competitive economy, according to a study by the World Economic Forum. The World Economic Forum examines the relationship between competitiveness, social cohesiveness and environmental sustainability. In order to be awarded the world’s most competitive economy, a country must be the most well-rounded. Some of Singapore’s top contributing factors include their open economy, strong labor-employer relations, diverse workforce, robust intellectual property protection as well as the stability of their government and its responsiveness to change.  The United States falls to 2nd place followed by Hong Kong in 3rd, who moved up 4 spots from the previous year and The Netherlands in 4th place and Switzerland in 5th. This year list is very diverse and included countries all over the world.

Singapore is an island city-state off southern Malaysia with a tropical climate and multicultural population. It’s a financial center, an achievement in urban planning, and serves as a model for developing nations. It is one of the most interesting places in the world. Here are some quick facts to help you get to know Singapore a bit better.

Fun Facts about Singapore:

  1. You can find the national anthem in microtext on the back of the $1000 note.
  2. Singapore is one of three surviving city-states in the world – along with Vatican City and Monaco.
  3. Singapore’s Bukit Timah Nature Reserve holds more species of trees than the entire North American continent.
  4. The four official languages of the country are English, Chinese, Tamil, and Malay.
  5. Singapore in the only country in the world where food carts have Michelin Stars.

Do you know any interesting facts about Singapore? Share them with us! Did you know Kompass Databases are made up of over 35 million companies in more than 75 different countries? To learn more about our tools such as EasyBusiness, contact us.

 

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