Singapore Ranked Most Dynamic Economy in the World

Singapore Ranked Most Dynamic Economy in the World

According to a new sturdy performed by Grant Thornton, Singapore, Finland, Sweden, Israel and Austria are the most dynamic economies in the world.

The Grant Thornton Global Dynamism Index 2012 is the second annual survey, which ranks 50 of the world's largest economies across 22 indicators of dynamism, covering five key areas: business operating environment; economics and growth; science and technology; labor and human capital; and the financing environment.

Singapore is at the top of the index mainly due to its favorable financing environment: it has high-quality financial regulatory system, high level of private sector credit, and the light corporate tax burden; corporate income tax in Singapore is currently set at 17%. Singapore is perfectly placed to be a gateway between West and East. Its economic growth prospects, transparent financing environment and a well-educated workforce maintain Singapore’s high attractiveness for foreign investors.

Israel ranked as a country offering the most dynamic science and technology environment due to the large part spent on research and development. The report also notes that Israel has accumulated highly skilled labor from the former Soviet Union by creating tax incentives and business stimulating programs.

Finland, Sweden and Austria scored well due to the significant part of gross domestic product created by research and development, as well as on the quality of their IT infrastructure.

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