Second Most Competititive Country For The Fifth Consecutive Year

Singapore beats everyone but Switzerland for the fifth consecutive year. 

Its competitiveness is broad-based – it scores in the top 10 in nine out of the 12 pillars. Its particular strengths are the efficiency of its goods, labour and financial markets and the quality of its higher education and training system. It also scores strongly for its infrastructure, macroeconomic stability and the transparency and efficiency of institutions. Areas for improvement include a relatively low rate of participation of women in the workforce.

The Global Competitiveness Report 2015-2016 assesses the competitiveness of 140 world economies. Using a mixture of quantitative and survey data, it ranks countries overall by combining 113 indicators grouped under 12 pillars of competitiveness: institutions; infrastructure; macroeconomic environment; health and primary education; higher education and training; goods market efficiency; labour market efficiency; financial market development; technological readiness; market size; business sophistication; and innovation.