SINGAPORE: (Bernama) Singapore has reclaimed the top position in the 2026 IMD World Competitiveness Ranking after slipping to second place last year.
According to the International Institute for Management Development's (IMD) 2026 annual report released on Thursday, Singapore ranked first among 70 economies assessed followed by Hong Kong in second place and Switzerland in third.
"Singapore’s return to first place highlights how quickly agile economies can regain momentum.
"Its rise is driven by a broad recovery across several areas of competitiveness, with Business Efficiency leading the way," IMD said in a statement on Thursday (June 18).
The report indicated that Hong Kong’s rise reflects sustained performance across four competitiveness factors measured: government efficiency, infrastructure, economic performance, and business efficiency.
Switzerland’s sharp drop in economic performance, driven by a severe deterioration in direct investment flows, highlights how even the world's most competitive economies remain vulnerable to geopolitical uncertainties and investment-related shocks.
World Competitiveness Centre (WCC) director Arturo Bris emphasised that geopolitical conditions are worsening and global fragmentation is increasing.
"Nations with their own tried-and-tested, credible institutions gain an advantage in this context because, as international systems cease to serve so many national needs, businesses can carry on as usual," he said.
The report also explored the extent to which economic pressures are affecting business confidence, drawing on a survey of 6,900 global senior executives that feeds into the ranking results alongside hard economic data. - Bernama
