S'pore ranked no. 2 in the world again for competitiveness

Singapore ranked second in the world for competitiveness for the fourth consecutive year in an annual report by the World Economic Forum.

The Global Competitiveness Report 2014-2015, which compared 144 economies, saw Singapore emerge top three in seven out of 12 areas.

Switzerland topped the overall rankings for the sixth time in a row, while United States, Finland and Germany rounded up the top five (in that order).

If you're not interested in numbers and tables, stop here. If numbers are your thing, read on.

Here's the breakdown of Singapore's ranking. (Note: 12 areas not weighted equally.)

  • Institutions: Ranked 3
  • Infrastructure: Ranked 2
  • Macroeconomic environment: Ranked 15
  • Health and primary education: Ranked 3
  • Higher education and training: Ranked 2
  • Goods market efficiency: Ranked 1
  • Labour market efficiency: Ranked 2
  • Financial market development: Ranked 2
  • Technological readiness: Ranked 7
  • Market size: Ranked 31
  • Business sophistication: Ranked 19
  • Innovation: Ranked 9 

So how did Singapore do in comparison with other advanced economies?

Source: World Economic Forum