Singapore has emerged as the world’s most successful economy in the Legatum Institute’s 2015 Legatum Prosperity Index, reported Singapore Business Review.
The city-state beat 142 other countries such as Switzerland and China, which took second and third places respectively.
In fact, Singapore has climbed up one notch every year in the Economy sub-index since it took third spot in 2013.
In a statement, Legatum said: “The country has the second highest capital per worker in the world: $240,750 per worker. 47 percent of the country’s manufactured exports are classified as ‘high-tech’, the third highest in the world.”
Meanwhile, Singapore was ranked 25th in the Social Capital sub-index and 38th in the Personal Freedom sub-index, the country’s lowest performance.
Overall, Singapore was ranked 17th – the highest ranking ever achieved.
Except for the Social Capital and Personal Freedom sub-indices, the country was ranked in the top 20 – 15th in Education, 14th in Health, 13th in Governance, 12th in Safety and Security, 12th in Entrepreneurship & Opportunity and 1st in Economy.
“The 2015 Prosperity Index shows that the country is safe and well-run,” said Legatum.
“The Index reveals that the country is largely free of tension between different social groups. 96 percent of Singaporeans believe that the country is a good place for people of different ethnicities – the highest in the world.”
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@propertyguru.com.sg
