Study ranks the best countries in the world, here's where Singapore stands among 89 nations

When it comes to international rankings, be it for global education, cost of living, or even the best airport, we're used to seeing Singapore at or near the top.

This year alone, we've ranked as the safest city for tourists, the most livable city among Asian expats and the list goes on.

A study by the US News & World Report and Wharton School compared 89 countries to find out the world's best countries in 2024.

Switzerland was crowned as the best country for the third year running, while Japan and the US completed the top three.

Singapore ranked 14th, failing to make the top 10 for the second year running.

This year's ranking, however, is an improvement from that in 2023, at 16th place.

Other Asian countries in the top 20 include China (16th), UAE (17th) and South Korea (18th).

Closer to home, Thailand was ranked 28th, with our immediate neighbours Malaysia in 38th place.

How is it measured?

The rankings, in its ninth year, look to examine a country's worth beyond hard metrics.

Seventy-three attributes, such as political stability, favourable tax environment and a skilled labour force, were identified and countries were ranked based on a collection of individual survey responses.

Almost 17,000 individuals participated in said survey, conducted from March 22 to May 23 this year.

The 73 attributes are grouped into 10 categories including Agility, Cultural Influence, Heritage, Open for Business and Quality of Life.

Of all the categories, Singapore ranked highest in Agility and Open for Business (6th).

A score of 78.5 (out of 100) in Agility makes Singapore the most agile Asian country.

According to the study, an agile nation "must adapt" and be quick to respond to obstacles. Qualities include efficiency in action and openness to accept modern solutions.

It's similar for the Open for Business category, where Singapore triumphed over its Asian counterparts.

Countries that score well are seen as a "haven for capitalists and corporations".

The study found that despite not having the cheapest manufacturing costs, Singapore's extremely low rate of corruption allows for it to hold a favourable position in this category. 

The Heritage category is where Singapore ranks lowest, 34th out of 89 countries.

Under the "rich history" attribute, Singapore scores 11.6 out of 100.

The top spot for this category goes to Greece.

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amierul@asiaone.com