Singapore ranks first in global digital competitiveness

Singapore has taken the top spot in the World Digital Competitiveness Ranking, an annual index compiled by the International Institute for Management Development (IMD). The index evaluates 67 economies on their ability to adopt and explore digital technologies.  

The city-state climbed two spots from its 2023 position, overtaking Switzerland and Denmark, ranked second and third, respectively. The United States dropped to fourth place.  

The ranking assesses digital competitiveness across three main factors: Knowledge, Technology and Future Readiness. Singapore maintained its first-place ranking in Technology, advanced to second place in Knowledge and rose nine spots to claim the top position in Future Readiness.  

Singapore also ranked first globally in key indicators including Talent, Regulatory Framework, Business Agility, Adaptive Attitudes and IT Integration. 

The IMD report highlighted Singapore’s leadership in city management, banking and financial services, high-tech patent grants and public-private partnerships. It ranks second in higher education achievement and PISA math scores.  

However, the report also identified the country’s weaker areas. Singapore ranked 65th in public spending on education, 60th in telecommunications investment and 44th in the proportion of female researchers. The country also saw lower rankings in scientific and technical employment (30th) and high-tech exports as a share of GDP (13th).  

The IMD noted that countries like Singapore that can integrate emerging technologies like artificial intelligence and blockchain are better positioned for sustained growth and influence.