According to a new report published by the IMD World Competitiveness Center Singapore is the most dominant force in digital competitiveness found anywhere in the world.
The same report also declared Singapore as the third most competitive economy in overall terms, jumping up from fourth place and overtaking the United States. Hong Kong remains in the top spot with Switzerland just behind them, but many expect and anticipate Singapore to climb to the top of this list as well in the near future.
Singapore has officially cemented itself as a hub for modern technology and connectivity
It should come as no surprise to anyone that Singapore has been able to officially cemented itself as such a force for modern technology, connectivity, and digital competitiveness.
This is, after all, a nation that has always been very serious about progress, has always tried to improve the inflow of overseas talent while improving the talent that they foster at home, and finding new ways to take advantage of infrastructure – especially digital infrastructure – to help them compete on the global scene while remaining significantly smaller (at least in population and landmass) as all of the other member nations near the top spot of these kinds of lists.
The business community and Singapore government invests heavily in digital infrastructure and will continue to do so
The reason that Singapore has been able to climb so highly in the realm of digital competitiveness is because they have a business community, a financial sector, and a government that works so closely together with one another in an effort to build up as much infrastructure as possible to create competitiveness across all aspects of life in Singapore.
This is a nation that has a very significant focus on education, a big push towards entrepreneurship, and a long-term focus of becoming one of the most influential members of the global economic community. They pour a lot of resources into building up their own people while also providing plenty of infrastructure and benefits to overseas citizens to bring them into the fold as well.
As one of the most connected places on the planet, and with some of the highest average online speeds of any country, it’s easy to better understand how Singapore has been able to dominate the digital realm so fast when you begin to understand the sheer volume of resources that your average Singaporean has to work with. The competitive advantage here is almost overwhelming!
The tech dominance of Singapore has led it to become one of the most are hotspots for startup creation in the world
At the end of the day, this position as a very competitive nation (not just from a digital perspective but from a business and financial perspective as well) has really helped Singapore to capture the attention of entrepreneurs, investors, financiers, marketers, and dreamers from all over the world.
Singapore is quickly becoming a hotbed for the creation of startups. And while it isn’t yet thought of as highly in the global community has Silicon Valley in the United States, it’s quick and easy access to 2.8 billion people in Asia makes it a real force to be reckoned with. Singapore is here to stay.
Company: Singapore Company Incorporation Consultants Pte Ltd
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