This archive report was first published on 17 October 2019.
Published on October 17, 2019, the 2019 Global Competitiveness report ranks Singapore as the world's most competitive country, surpassing the United States and China.
The report highlights Singapore's robust infrastructure, labour market, and health as key factors contributing to its top ranking.
However, the United States lost its previous top spot due to decreased life expectancy and a lack of vital skills necessary for the 21st century.
Despite this, the U.S. remains the global innovation powerhouse and the most competitive large economy.
According to the report, Singapore secured an aggregate score of 84.8, while the United States scored 83.7, and Hong Kong followed closely at 83.1.
Life expectancy in Singapore is 74.2 years, compared to 66.6 years in the United States.
While Singapore leads the pack, the country still needs to invest in entrepreneurship and boost its skill base to maintain its competitiveness.
