Singapore has been named the most innovative city in Asia-Pacific, evidenced by the country’s dramatic evolution over the last 25 years, according to a survey by consultancy Solidiance.
The report looked at six factors, like what a city has to offer and the amount of talent that relocates to that city, a higher education system, availability of a skilled talent base, liveability and environmental sustainability, technological advancement and government regulations that support financial freedom and global integration.
Singapore was recognised for its “open door policy” to foreign professionals. In 2000, eight percent of Singapore’s four million residents were foreigners. This increased last year to 14 percent of its 5.3 million population.
The report also noted that strong government policies contributed to a structured and stable environment for conducting business, with the World Bank calling it the best place to do business for 2012 and 2013.
Meanwhile, Singapore needs to remain open to new ideas, entrants and cultures to stay on top.
“Singapore has no other choice; it must adapt, stay opened and lead change if it is to remain relevant in the 21st century,” noted Damien Duhamel, Managing Partner Asia of Solidiance.
The survey revealed that Sydney topped the categories for global integration, technological advancement and skilled talent base. In third spot, Melbourne emerged as the most attractive destination for talent, with half of its population having immigrant backgrounds.
Hong Kong leads in technological and regulatory leadership, while Auckland was strong in attracting skilled talent and in its tolerance for diversity.
Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
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