According to the report from IMD Business School in Switzerland, Asia is home to the most competitive economies in the world.

Singapore took the number one spot and Hong Kong sits at number two.  Both beating number 3 ranked US.

The rankings, which started in 1989, assess 63 economies on 235 indicators. The gauges include hard data such as unemployment, economic growth and government spending on health and education, as well as soft data from a survey of international business executives on topics such as social cohesion, globalization, and corruption. The economies were judged in four categories: economic performance, infrastructure, government efficiency and business efficiency.

Our other countries in Southeast Asia did well on the list.

14 China

16 Taiwan

18 Australia

22 Malaysia

25 Thailand

28 Korea

30 Japan

32 Indonesia (which moves up eleven spots from 2018)

43 India

46 Philippines

 

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