Singapore clinches second spot in global opportunity index

It also remained the top business centre in Asia Pacific.

Singapore has outdone itself yet again after finishing second in this year’s global opportunity index.

According to PwC’s 2016 Cities of Opportunity report, the city-state moved up one notch higher from third post two years back, and seventh rank in 2012. It also clinched its position as top Asian city for the second time in a row and is the only Asian state to make it to the magic five.

“It ranks first in three indicators - transport and infrastructure, technology readiness, and ease of doing business,” PwC’s press release said.

Aside from being the best in three of 10 indicators, the Lion City also performs well in the area of tax. An analysis of corporate total tax rate, personal rate, and tax efficiency shows that Singapore, along with Dubai and Hong Kong, have the lowest rates and highest efficiency collectively, PwC revealed.

The poll, which provides a balanced benchmarking of the social and economic health of cities, also noted that Singapore crept up seven places in technology readiness rising from eighth place from the previous report to first in this edition.

Meanwhile, London remained the top city among thirty leading business centres in the world in terms of opportunities even after Brexit as its performance underlines strengths and potential for competition post. Toronto come third, with Paris and Amsterdam completing the top five.