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
