switzerland 1st singapore 5th
Switzerland is the world's most competitive economy due to its reputation for innovation, research and development and its scientific infrastructure. And other Scandinavian economies are also performing well because of the same reasons. Singapore is ranked fifth. Not bad. But why Singapore is there is not explained. Is Singapore's position also due to innovation, research and development, and scientific infrastructure? Or we are there because of lower cost through outsourcing and hiring of cheap labour ie foreign talents?