Singapore, the World's Most Competitive Nation 2024

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Erlina Fury Santika 01/07/2024 18:40 WIB

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The IMD has again measured global competitiveness, releasing its World Competitiveness Ranking (WCR) 2024. Singapore achieved the highest ranking with a perfect score of 100 points.

Top 10 Countries with the Highest Global Competitiveness Index Score According to IMD (2024)

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Singapore, the World's Most Competitive Nation 2024

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Top 10 Countries with the Highest Global Competitiveness Index Score According to IMD (2024)

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The International Institute for Management Development (IMD) has released its 2024 World Competitiveness Ranking (WCR).

Singapore topped the ranking with a perfect score of 100 points, climbing from fourth place in 2023. Singapore achieved scores of 70.9 for economic performance, 87.8 for government efficiency, 96 for business efficiency, and 77.1 for infrastructure.

Switzerland ranked second with a score of 97.5 points in 2024, up from third place in 2023. Denmark came in third with 97.1 points, falling from first place in 2023. Ireland and Hong Kong followed in fourth and fifth place, respectively, with scores of 91.9 and 91.5 points.

Sweden (90.3 points), the United Arab Emirates (89.7), Taiwan (88.5), the Netherlands (86.9), and Norway (86.2) rounded out the top ten.

Indonesia ranked 27th with a competitiveness score of 71.5 points in 2024, a significant improvement from its 34th-place ranking in 2023.

The ranking uses a 0-100 point scale, with higher scores indicating greater competitiveness. The index is calculated based on 164 criteria. An online survey conducted between February and May 2024, involving 6,612 respondents, also contributed to the ranking. Respondents answered questions about competitiveness on a scale of 1-6, with 1 representing the most negative perception and 6 the most positive. Survey responses formed 92 criteria in the 2024 ranking.

All criteria were narrowed down to four key indicators: economic performance, government efficiency, business efficiency, and infrastructure. The ranking covers 67 countries worldwide.

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Singapore, the World's Most Competitive Nation 2024

Singapore, the World's Most Competitive Nation 2024

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