Singapore – second most competitive place for talent

Singapore has emerged as the No.2 country for developing, attracting and retaining top talent, according to INSEAD’s new Global Talent Competitiveness Index (GTCI).

Launched on Tuesday, together with partners the Human Capital Leadership Institute (HCLI) and Adecco, the index rates 108 countries on 48 variables such as education, government efficiency and quality of life. It measures a country’s effectiveness in creating, attracting and retaining talent.

European countries dominated the rankings. Clinching the top spot was Switzerland which excelled in almost all variables. Denmark was placed third. Singapore is the only Asian country ranked in the top 20 countries on the index.

Singapore did well for its ease of doing business, inflow of international students and foreign direct investments. However, the study also pointed out areas where Singapore could improve.

Speaking at the press conference, Kwan Chee Wei, CEO of the HCLI said that Singapore could do better in welcoming foreign immigrants- an area where the Republic is ranked No. 50. He touched on “ … the need to continue to welcome foreign talent and labour into the market, given that we're a very open economy, but at the same time, to draw a fine balance between making Singaporeans feel that they have a role in this global talent landscape space."

Kwan also said that Singapore needs to grow its technical and vocational skills sets as well as encourage entrepreneurial activity from the bottom-up, especially among small and medium enterprises.

According to INSEAD, the GTCI Index represents 86.3% of the world’s population and 96.7% of the world’s GDP.

Global Talent Competitiveness Index - Top Ten 2013 Rankings

 

  1. Switzerland
  2. Singapore
  3. Denmark
  4. Sweden
  5. Luxembourg
  6. Netherlands
  7. UK
  8. Finland
  9. US
  10. Iceland

30th November 2013