Singapore took first spot in the Global Competitiveness Index (GCI) 2019, making it the world's most competitive economy. Improving 1.3 points, it scored 84.8 out of a possible 100, overtaking the United States to clinch the top spot. Compiled by the World Economic Forum, the GCI 2019 covers 141 economies and provide an annual assessment of the drivers of productivity and long-term economic growth defined by the set of institutions, policies and factors.
Categorised into environment, human capital, markets and innovative ecosystem, the 12 assessment pillars include macroeconomic stability, financial system, market efficiency, skills and innovation capability. Singapore ranks first on the infrastructure pillar, where it also ranks first for road quality infrastructure, efficiency of seaport and airport services and sea transport connectivity. The country also tops the health, labour market and financial system pillars, achieving a nearly perfect score for macroeconomic stability.
On the tourism front, Singapore was the highest-ranked Asian city named to be the most beautiful city in the world.
The survey by Canada-based online travel agency Flight Network garnered votes from more than a thousand travel journalists, bloggers and agencies all over the world. A list of 50 cities were compared for the best combination of natural and man-made beauty, the juxtaposition of nature and architecture, city culture and local weather.
Changi Airport’s Jewel also bagged a top award for outstanding retail real estate projects out of 111 entries worldwide at this year’s Mapic Awards. This is the Special Jury Award for its excellence, innovation and creativity in the global retail real estate industry.