The traits that make Singapore shine on the global stage continue to support its sterling reputation. In recent months, the city-state has been lauded for its high standing across a range of live, work and play factors from clean government and governance to business landscape, innovation ecosystem, liveability and more.
Singapore again made it into the top ranks in three indices released last month (June 2025). They are the Global Cities Index by Oxford Economics, World Competitiveness Ranking 2025 by International Institute for Management Development (IMD), and inaugural Asian Cities Internationality Index 2025 by Hong Kong General Chamber of Commerce.
Oxford Economics Global Cities Index evaluates the opportunities and challenges facing 1,000 cities through a diverse array of indicators comprising Economics, Human Capital, Quality of Life, Environment, and Governance. Internationally, New York (United States of America), maintains its leading position, followed by London (United Kingdom) and Paris (France) close behind. Three cities in Asia Pacific made it into the global top 10 list, namely Melbourne and Sydney (Australia), and Tokyo (Japan).
Singapore ranks first in Southeast Asia, fifth in Asia Pacific, and 21st globally. Across all the indicators, the city-state stands at number four (out of 1,000 cities), 23 in Environment, 41 in Human Capital, 106 in Economics, and 135 in Governance.
The latest IMD World Competitiveness Ranking 2025 names Switzerland, Singapore and Hong Kong, respectively, as the world’s most competitive economies. Denmark and the UAE round off the top five. In total, the study considers 69 economies worldwide across 92 criteria. The criteria are grouped under Economic Performance, Government Efficiency, Business Efficiency and Infrastructure, with five subfactors within each of them.
Switzerland stands out for its robust performance, fuelled by the country’s resilient and stable economic and societal structures. It continues to lead globally in Government Efficiency and Infrastructure, maintaining its first position in both areas.
Singapore slips from its top position in 2024. Its cross-factor strength underlines a robust and future-oriented economy. In Government Efficiency, Singapore drops one position to third. Under Business Efficiency, it is eighth. Singapore’s top rank in Economic Performance can be attributed to its high growth in GDP and capital formation, as well as notable improvements in the export of goods and commercial services. This combined drive in the Domestic Economy and International Trade subfactors is significant enough to offset the slight declines in International Investment (from second to third) and Employment (from fifth to sixth) in the subfactors.
The Asian Cities Internationality Index 2025, a new study by Hong Kong General Chamber of Commerce, aims to develop an independent, transparent and credible framework to evaluate the internationality of 11 Asian cities. The 11 cities are Bangkok (Thailand); Ho Chi Minh City (Vietnam); Hong Kong; Jakarta (Indonesia); Kuala Lumpur (Malaysia); Mumbai (India); Seoul (South Korea); Shanghai (China); Singapore; Taipei (Taiwan); and Tokyo (Japan).
The study looks at more than a hundred indicators to evaluate core attributes across seven intertwined dimensions. They are Business and Economy, Quality of Life, Infrastructure and Connectivity, Innovation and Ideas, Human Capital Diversity, Cultural Interaction, and Government and Legal System for Business.
The established regional business hubs of Hong Kong and Singapore stand out as the top international cities in Asia. Hong Kong edges out Singapore in the Business and Economy dimension. This dimension describes a city’s robust economic infrastructure, supportive policies and openness to fostering business and capital exchange, thereby creating opportunities. Hong Kong is also well-rounded in other dimensions.
Singapore shines in the Human Capital Diversity dimension. Its diverse human capital enhances its economic dynamism and nurtures resilience by harnessing the potential of a multifaceted talent pool. Singapore also scores well for its vibrant innovation ecosystem, and its position as a platform for global dialogue.
CA Lab has featured how Singapore fared in other rankings. Find out more in these articles:
© 2024 Institute of Singapore Chartered Accountants
