Singapore’s Dynamism Dims As Growth wanes

Weaker labour productivity and tepid economic growth have pushed Singapore off its first place perch to seventh position in a global ranking of economic dynamism. “We should be clear what the index measures … Singapore has not worsened as an economy where dynamic businesses can flourish, but rather, the six economies above us have seen their business growth environments improve relatively more over the past 12 months,” said Grant Thornton Singapore partner Aw Eng Hai.

The Grant Thornton Global Dynamism Index (GDI) ranks 60 economies on their dynamism based on 22 economic indicators in five key areas – business operating environment, economics & growth, science and technology, labour and human capital and financing environment.