Why did Singapore reclaim the top spot in the IMD rankings?

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Singapore reclaimed first place because of a broad recovery in competitiveness, led by business efficiency.

Singapore returned to the top of the 2026 IMD World Competitiveness Ranking after falling to second place last year. It ranked first among 70 economies, ahead of Hong Kong in second and Switzerland in third, with IMD saying the city-state’s rise came from a broad recovery across several competitiveness areas, especially business efficiency.
Business efficiency was the main driver of the rebound

IMD said Singapore’s rise was led by business efficiency, which was the strongest area in its recovery. The report described the country’s return to first place as evidence that agile economies can regain momentum quickly.
The ranking covered 70 economies

The 2026 annual report placed Singapore first out of 70 economies assessed. Hong Kong followed in second place, while Switzerland took third.
The result came from several competitiveness factors

The report said Singapore’s improvement was not limited to one metric, but reflected a broad recovery across several areas of competitiveness. That wider improvement was the basis for its return to the top of the global ranking.
IMD linked the outcome to wider global conditions

IMD’s World Competitiveness Centre director Arturo Bris said geopolitical conditions are worsening and global fragmentation is increasing. The report also noted that its rankings combine hard economic data with a survey of 6,900 global senior executives, which helps explain how business confidence is measured alongside economic performance.

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Why did Singapore reclaim the top spot in the IMD rankings?

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