Forbes October 14, 2019
The World Economic Forum has released its annual Global Economic Competitiveness Report which assesses the drivers of productivity and long-term economic growth across the world. The research was first conducted in 1979 and it benchmarks the competitiveness of 141 economies through 103 indicators (on a scale from 0 to 100) organized into 12 themes to determine how close an economy is to the “frontier” of competitiveness. Innovation capability, health, skills and business dynamism were among the themes taken into account. This year, Singapore has overtaken the United States to become the world’s most competitive economy with a score of 84.3 points out of 100.
The city-state performed well across macroeconomic stability, infrastructure, innovation capability and its labor market. Despite the...
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