Singapore Is Most Future-ready Economy in APAC Region

Singapore is the top most future-ready economies in the region and third in the world, according to a study by economic data forecasting and analytics company IHS in partnership with US-based technology giant Dell Incorporated.

Singapore’s labour force engagement, strong infrastructure, and business-friendly environment have been instrumental in boosting the ranking of the city-state. Singapore has consistently been ranked the best city for doing business by the World Bank due to its straightforward process in company formation Singapore.

Dell’s Vice President and Managing Director for South Asia and Korea Tian Beng Ng said: “Singapore scored highly as a Future-Ready Economy for being a trusted place to do business and its ability to attract talent and ideas.”  Singapore’s goal become a Smart Nation has been instrumental in being considered the most future-ready city in the region. “Singapore’s ability to provide access to Asia’s emerging markets was also a plus. Cities can work towards future readiness in many ways and Singapore has exhibited this capability through numerous initiatives in its drive to build the world’s first Smart Nation,” he added.

The city of San Jose has topped the list as a result of its high ranking in innovation and investment along with a robust standing on education and labour force engagement. Completing the top 10 cities are San Francisco ranking second best future-ready city, London, Washington, DC, Boston, Austin, Raleigh, Stockholm and Sydney.

While cities in the United States have dominated the global 50 ranking, many cities in the Asia-Pacific region have also clinched a spot. These include Seoul-Incheon at the 12th spot, Beijing at the 24th spot, Hong Kong at the 25th spot, Taipei at the 27th spot, Shanghai at the 28th spot, Guangzhou at 31st, Tokyo at 32nd, Delhi at 44th, Suzhou at 45th, Jakarta  at 47th, Tianjin  at 48th, and lastly, Shenzhen at the 49th spot.

“The cities where we live are faced with new challenges every day, from supporting a growing population and building a thriving culture, to fueling economic opportunity for everyone. By understanding Future-Ready Economies and their attributes, cities, businesses and people can create policies and strategies that will enable them to prosper and achieve strong economic health,” said Amith Midha, president of Dell APJ.

The research considered several indicators in three main categories: human capital, commerce and infrastructure. Each economy is ranked in terms of its ability to provide people, businesses and technology with the right infrastructure that is conducive for progress over time; its ability to equip people with necessary skillset that would bring about meaningful economic and social change; and its ability to constantly offer businesses opportunities to grow, innovate and profit.

A relatively new study, the Dell Future-Ready Economies Model measures how well an economy empowers its people and organisations to have access to new tools and ideas that bring about better connections and outcomes. The inception of the Dell Future-Ready Economies Model was a result of the Strategic Innovation Summit that was held at the Harvard University in 2015.

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