Singapore is now the world's most digitally competitive country, according to an inaugural World Digital Competitiveness ranking by Swiss business school IMD.
The new ranking released this week measures a country's ability to adopt digital technologies that transform government practices, business models and the larger society.
"Singapore has developed regulation that ... facilitates the inflow of overseas talent which complements the locally available pool," said IMD World Competitiveness Centre director Arturo Bris.
Fifty criteria were analysed in the report, reflecting an economy's capability to harness new technology and be ready for the future.
While Singapore ranked tops in knowledge and technology, it fared badly in business agility, earning the 14th spot.
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"The readiness of people and companies to embrace digital transformation and the willingness to change reflect a country's adaptive attitudes and business agility," said Bris.
Singapore was one of only two Asian economies in the Top 10; the other spot belonged to Hong Kong which sat in seventh place.
In the overall world competitiveness ranking published annually since 1989, Singapore came in fourth, a drop from last year's third position.
Hong Kong topped the overall ranking, followed by Switzerland and the United States.
