The World Economic Forum also ranks Singapore 2nd in the world for economic competitiveness which is determined by how countries rank on "12 key indicators including infrastructure, macroeconomic environment, labor market efficiency and innovation."
Here are the top 10:
The Global Competitiveness Index 2012–2013
| Country | 2012-2013 | 2011-2012 |
| Switzerland | 1 | 1 |
| Singapore | 2 | 2 |
| Finland | 3 | 4 |
| Sweden | 4 | 3 |
| Netherlands | 5 | 7 |
| Germany | 6 | 6 |
| United States | 7 | 5 |
| United Kingdom | 8 | 10 |
| Hong Kong | 9 | 11 |
| Japan | 10 | 9 |
Notice that 5 of the dreaded socialist European countries are also in the top 10.
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