Singapore is still APAC's hottest spot for global talent

It also ranked second worldwide, next to Switzerland.

Singapore retains the top spot in Asia Pacific for the fourth consecutive year in the Global Talent Competitiveness Index (GTCI) by INSEAD.

According to the index, Singapore is the top performer across the Enable and Attract pillars, with uniformly high scores across their underlying sub-pillars. However, it has shown poor performance on the the Tolerance of Immigrants variable.

The report noted that Singapore could still improve its Access to Growth Opportunities and Innovation output variable.

Human Capital Leadership Institute CEO Su-Yen Wong noted that the recent report published by Singapore’s Committee on the Future Economy suggested that building strong digital capabilities is one of the key strategies that will propel Singapore’s growth for the next two decades.

"Digital technologies will help small and exposed economies like Singapore punch above their weight by creating means for their businesses and talent to reach out to the global market. Countries must continue to upskill their workforce so that they can adapt to the digitisation wave and the sweeping structural changes that are poised to shakeup traditional work arrangements," Su-Yen said.

Switzerland topped the index, as it continued to excel at retaining domestically developed talents, particularly by offering an ideal economic environment in terms of its Regulatory, Market, and Business and Labour Landscapes.

Globally, European countries continue to dominate the GTCI rankings, with seven of them in the top 10.