SINGAPORE: Singapore has leapt forward to secure the second position in the latest World Talent Ranking released by IMD’s World Competitiveness Center, moving up six places from its previous eighth position last year. This advancement makes Singapore the highest-ranked economy in Asia, in the 2024 rankings.
Switzerland continues to hold the top spot for the 11th consecutive year, while Luxembourg has slipped to third place. Among the top ten economies, Singapore and Hong Kong, which ranks ninth, are the only representatives from Asia, with the remainder of the list predominantly comprising European nations.
The World Talent Ranking evaluates economies based on three key criteria: investment and development, level of competencies and appeal to talent. Singapore has particularly excelled in talent appeal, maintaining the top rank in this category for the past three years, reflecting its commitment to nurturing a skilled workforce.
This year’s report has expanded its scope to include a total of 67 economies, introducing Ghana, Nigeria, and Puerto Rico to the ranking for the first time, further broadening the global perspective on talent competitiveness.
Singapore’s performance reinforces its status as a global hub for talent and innovation, highlighting the effective strategies employed in fostering a conducive environment for investment and growth.