Most Competitive Countries in Asia, 2024

According to the International Institute for Management Development (IMD), the 2024 competitiveness rankings highlight the leading economies in Asia. These rankings are based on economic performance, government efficiency, business efficiency, and infrastructure.

Top Competitive Countries in Asia

1. Singapore (1st globally) – Continues to lead as the most competitive country in Asia, driven by a strong economy, efficient governance, and world-class infrastructure.
2. United Arab Emirates (7th) – A key player in the region, benefiting from innovation, investment, and strategic economic policies.
3. Taiwan (8th) – Recognized for its technological advancements, semiconductor industry, and robust manufacturing sector.
4. Qatar (11th) – Leverages natural resource wealth and diversified investments to strengthen its economic position.
5. China (14th) – Remains a major global economic force, despite facing challenges in trade, regulations, and geopolitical shifts.
6. Saudi Arabia (16th) – Undergoing Vision 2030 economic reforms to diversify its economy beyond oil.
7. South Korea (20th) – Known for technological innovation, global brands, and cultural influence.
8. Bahrain (21st) – Enhancing economic competitiveness through financial sector reforms and business-friendly policies.
9. Thailand (25th) – Strengthening its tourism and manufacturing sectors to boost competitiveness.
10. Indonesia (27th) – Implementing economic reforms and infrastructure improvements to drive growth.

Key Insights

• Southeast Asia’s Strength: Singapore leads, while Thailand and Indonesia show steady progress.
• Middle East’s Rise: UAE, Qatar, and Saudi Arabia are advancing through diversification and reforms.
• Tech and Manufacturing Hubs: Taiwan, South Korea, and China continue to excel in high-tech industries.