Singapore Tops Asian Countries on Competitiveness

9th June 1996

Lausanne's International Institute for Management Development has released its World Competitiveness Report, placing the United States at the top, followed by Singapore. Both New Zealand and Chile and included with a bullet as "remote but brilliant stars". Click here for an abstract of an article which details how New Zealand is establishing international business relationships.

The report is based on a detailed opinion survey of top executives around the world. Of note this year is that the IMD, one of the top European Business schools have parted company with the "World Economic Forum" a hitherto shadowy group of characters who meet annually at the Swiss mountain resort of Davos to discuss how to further private enterprise internationally. Its membership includes business and political leaders but its motives are never transparent. The World Economic Forum will release its own report shortly.

The IMD study polls 3126 top executives on country competitiveness in 8 critical areas.

In the "Domestic Economy" section. the US led, but Asian countries took six of the next 6 positions, namely China (2), Singapore (3), South Korea (4), Japan (5), Malaysia (7) and Hong Kong (8). Overall the top 10 positions were:

• United States
• Singapore
• Hong Kong
• Japan
• Denmark
• Norway
• Netherlands
• Luxembourg
• Switzerland
• Germany

Singapore' has retained its high ranking from last year, and despite a small base was able to maintain this by "a very successful model characterised by a highly effective government, a sound structure in finance and a good performance in management". Hong Kong, toppled from its top position in the Asia Pacific Group 2 years ago, still maintains third position. Japan lost its worldwide lead during its recession of 6 years ago.