Not only is Singapore a renowned global business centre and financial hub, it is also clean in the different ways that count, such as being ranked the least corrupt country in Asia Pacific, in Transparency International’s 2024 Corruption Perceptions Index (CPI) report.
This is the first time in 14 years that the city-state has come in first, and ahead of New Zealand, which has occupied the top spot since 2010. The report, released on February 11, shows that globally, Singapore is ranked third least-corrupt nation in the world – its highest placing since 2020; it stands behind Denmark and Finland, respectively.
The CPI ranks 180 countries and territories worldwide by their perceived levels of public sector corruption. The results are given on a scale of 0 (highly corrupt) to 100 (very clean).
Corruption is a dangerous problem as it affects so many aspects of life. “Corruption is an evolving global threat that does far more than undermine development; it is a key cause of declining democracy, instability and human rights violations,” says François Valérian, Chair of Transparency International. “The international community and every nation must make tackling corruption a top and long-term priority,” he adds.
There is room for optimism, according to the latest report, as it shows that change for the better is happening in many countries, with 32 countries having significantly reduced their corruption levels since 2012.
In this region, the “significant improvers” are listed as:
There is still a huge amount of work to be done, given that 148 countries have stayed stagnant or gotten worse during the same period. The global average of 43 has also stood still for years, while over two-thirds of countries are still scoring below 50.
Regionally, the report lists the “significant decliners” as:
© 2024 Institute of Singapore Chartered Accountants
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