Most Competitive Countries in Southeast Asia

Singapore has once again proven itself as the most competitive country in Southeast Asia, securing the top spot worldwide in the IMD World Competitiveness Ranking (WCR) 2024. Known for its strong economy, world-class infrastructure, and highly skilled workforce, the city-state continues to set the standard for business efficiency and innovation.

How Other Southeast Asian Countries Rank

While Singapore dominates the rankings, other nations in the region are also making strides. Thailand comes in at 25th place, thanks to its booming manufacturing sector and strong exports. Indonesia, ranked 27th, has been making waves with bold economic reforms and a fast-growing digital economy. Malaysia, at 34th place, remains a key player with its diverse industries and strong financial sector, while Viet Nam, ranked 52nd, continues to attract foreign investors, particularly in technology and manufacturing.

What Makes a Country Competitive?

The IMD World Competitiveness Ranking looks at several factors to determine a country’s standing, including:

• Economic performance – How well a country is growing and competing in global markets.
• Government efficiency – Policies that support businesses and economic growth.
• Business environment – Innovation, productivity, and workforce readiness.
• Infrastructure – The quality of education, digital connectivity, and transportation.

Looking Ahead

Southeast Asia’s economies are evolving rapidly, and many countries are working hard to improve their global rankings. With ongoing investments in technology, education, and economic policies, the region is expected to grow even stronger in the coming years.

The data for this article comes from the IMD World Competitiveness Ranking (WCR) 2024.