Interested In Investing In Singapore? Find Out Its International Rankings
Deciding on Singapore as the site of one’s next business investment is probably one of the best business decisions any investor or entrepreneur can make. Enjoying high approval ratings worldwide for its business-friendly atmosphere, Singapore is indeed one of the world’s best places for business growth.
If you are looking into starting your business in Singapore, here are some of the most relevant facts and figures about the country you should know.
Singapore has been hailed as the world’s easiest place to do business in the Doing Business report conducted by the World Bank in 2012. If this is any indication, Singapore is an investor magnet and enjoys a favourable standing among international entities.
Business and working conditions in Singapore remain topnotch. It ranked Number 1 in the BERI 2010-1 Labour Force Evaluation Measure report and has been topping the same report for 30 years. Singapore earned a ranking of 89 for the said year, followed by the United States with a 76 ranking, Taiwan and Switzerland with 75, and Belgium by 73.
Singapore also has the best labour-employer relations in the world according to the Global Competitiveness Report of 2010-2011 of the World Economic Forum. Rounding up the top five are Switzerland, Norway, Iceland, and Sweden.
According to the IMD World Competitiveness Yearbook 2010, meanwhile, Singapore is the second most attractive working environment for highly-skilled foreigners, next only to Switzerland. Additionally, according to the same yearbook report, Singapore was ranked the most competitive country in the world, followed by Hong Kong, USA, Switzerland, and Australia.
According to the 2009 IMD World Competitiveness Yearbook, Singapore is fourth in the world and first in Asia for having the least corruption in its economy, with a score of 8.02. Transparency International has echoed this, ranking Singapore first in the list of least corrupt nations in the world, sharing the top spot with a uniform score of 9.3 with Denmark and New Zealand.
In the Global Competitiveness Report of 2010-2011 by the World Economic Forum, Singapore was third in the Global Competitiveness Report, after Switzerland and Sweden.
According to The Global Enabling Trade Report 2009 of the World Economic Forum, Singapore also tops the list for the most open economy for international trade and investment.
Furthermore, according to Business Environment Rankings, Economic Intelligence Unit, Singapore has the number one business environment in Asia Pacific and ranks third worldwide. It is also number one in foreign trade and investment according to The Globalisation Index 2009, Foreign Policy and A.T. Kearney.