Business

S'pore top in digital race

Singapore has taken top spot in the increasingly crucial area of digital competitiveness in a maiden global ranking of economies this year.

The Republic also regained third place in a related and long-running annual ranking of the world's most competitive economies in overall terms, overtaking the United States.

Hong Kong retained top spot, with Switzerland holding onto second place.

NEW RANKING

The competitiveness survey is carried out by the IMD World Competitiveness Centre which this year for the first time published the digital competitiveness survey as well.

The new ranking measures countries' ability to explore and adopt digital technologies that transform government practices and business models.

Sweden took second place in the new ranking, followed by the US, Finland, Denmark, the Netherlands and Hong Kong.

"Singapore and Sweden have developed regulation... that facilitates the inflow of overseas talent which complements the local pool," said Professor Arturo Bris, director of the IMD World Competitiveness Centre.

- THE STRAITS TIMES

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