It climbs up two notches from last year in WEF survey
Singapore is the third most competitive economy, according to the latest survey by Geneva-based World Economic Forum (WEF) released yesterday.
It climbed up two notches from last year. The boost came from increased confidence in the country’s public institutions, efficient markets for goods and labour, and high-quality financial markets.
In the Global Competitiveness Report 2009-2010, the poll was conducted on 13,000 business leaders. They were asked to rate 133 countries on good government; transport and telecommunications infrastructure; openness to innovation; intellectual property protection; and availability of talent.
Switzerland overtook the United States for the top place, nudging the latter to second position.
The US lost its title as the most competitive economy in the world, as its financial markets have weakened while economic stability could be undermined by its fiscal deficits. Continue reading
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