The global business landscape has taken a hit in recent years, hugely due to the Covid-19 pandemic that had struck the shores of many countries, including Singapore. Interestingly, despite the Covid-19 recession, there were more business entities that were incorporated in Singapore as compared to the same period.
This highlights the resilient nature of Singapore’s economy, and the investors’ and entrepreneurs’ confidence in the city state.
Singapore As a Business Hub
Largely known as a business hub in Asia, Singapore is home to many MNCs, SMEs, and start-ups. The statistics and rankings tell a story of how open Singapore is as a country for foreign-owned and local businesses.
Check out the statistics and rankings below to see Singapore as a powerhouse in the world!
#1 in the Best Business Environment 2020 by The Economist Intelligence Unit
#1 in the Human Capital Index 2020 by World Bank Group
#1 in the Economic Freedom Index 2021 by The Heritage Foundation
#2 in the Ease of Doing Business Ranking 2021 by The World Bank
#3 in the Corruption Perceptions Index 2020 by Transparency International
#4 in the Starting A Business Ranking 2021 by The World Bank
#5 in the World Competitiveness Ranking 2021 by Institute for Management Development