Global Competitiveness Index

Competitiveness is an indicator for future prosperity. The sovereign debt crisis in Europe, the risk of a weak recovery in the United States, and the deceleration of economic growth in China and other emerging economies has cast doubt on the world's economy. With such uncertain times, a high level of competitiveness is the only way a country can ensure its resilience and sustained prosperity.

Political institutions and governance, infrastructure, macro-economic stability, the quality of human resources, labour market efficiencies, financial markets and innovation and technology are some of the factors taken into account when the Global Competitiveness report is drafted. The Nordic countries and the Asian countries all perform very well, with Singapore as the 2nd overall, behind Switzerland which has been 1st for four years running.

These are some of the findings from the World Economic Forum. It is rather encouraging that Singapore is ranked second which means it is highly competitive. A sustained economy now is the only way to ensure that Singapore is able to grow and develop in its economic sectors and ensures that it remains one of the top competitors in the world.

Signing off,
Just another Singaporean