Index of Economic Freedom in Southeast Asia, 2024

In 2024, Singapore Retains Title of World’s Highest Economic Freedom!

According to The Heritage Foundation’s report titled the Index of Economic Freedom 2024, Singapore scored 83.5 points on the economic freedom index scale of 0-100.

As for other Southeast Asian countries, Brunei recorded an economic freedom index score of 65.9 points in 2024. This score placed Brunei at 43rd out of 184 countries in the world.

Fyi, the index value is derived from 12 quantitative and qualitative aspects grouped into four pillars of economic freedom. Among these pillars are the rule of law, government size (tax burden, government spending, and fiscal health), regulatory efficiency (business freedom, labor freedom, and monetary freedom), and open markets (trade freedom, investment freedom, and financial freedom).