Who run the world: Singapore is among top economies for women entrepreneurs

It ranked fifth in Asia-Pacific.

Z/Yen Group's GFCI top financial hub in Asia, Singapore, is also a leading economy in supporting women entrepreneurs.

Mastercard’s first Women’s Entrepreneurial Index named the Lion City as the 5th Asia Pacific economy in terms of entrepreneurship opportunities for women, garnering a total index score of 50.1, way ahead of its rival in the region, Hong Kong, at 8th place with a score of 46.4.

The index measured the interplay of the level of women’s advancement in the society -- their rate of participation in the workforce, government, and their inclination on business -- and available enabling conditions for women, including education, financial influence at home, and perceived safety from threat of crimes, among others.

It revealed Singapore has “healthy” supporting conditions for women (score: 29.4) and a “quite healthy” level of women’s entrepreneurial advancement (score: 20.7).

Overall, the index showed that female entrepreneurs are progressing the most in New Zealand, which is at the survey’s top spot with a score of 53.9. Australia ranked second with 51.7, followed by Thailand (50.9), Philippines (50.6), and Singapore.

“We have reached a stage of awareness where we realize the importance of women in the socioeconomic development of the society. Especially in emerging markets, greater economic inclusion of women can bring pivotal shifts in their path to economic betterment. However, we still have a long a way to go to transform that realization into real economic inclusion by eradicating the traditional and obsolete gender roles that are so deeply entrenched in societies, cultures and practices,” said Georgette Tan, senior vice president, Communications, Asia Pacific, Mastercard.

The survey covered 16 economies in Asia Pacific and was released ahead of World Entrepreneurs Day on 21 August.