Results 1 to 2 of 2

Thread: Singapore Beats Hong Kong in Competitive Cities Ranking

  1. #1
    Join Date
    May 2008
    Posts
    219

    Default Singapore Beats Hong Kong in Competitive Cities Ranking

    By Shibani Mahtani

    Bloomberg Tourist pose against Singapore’s central business district skyline.
    Chalk up another point for Singapore in its long-running rivalry with Hong Kong.
    After years of explosive economic growth, the Southeast Asian city-state is now the most competitive city in Asia — and the 3rd-most competitive in the world after New York and London — according to an Economist Intelligence Unit (EIU) research report commissioned by Citigroup. Cities ranked highly, according to the EIU, were ones best able to attract capital, talent, tourists and businesses to its center, and also those that were most livable, with healthy cultural environments.
    Hong Kong wasn’t far behind at 4th, to be sure, while Tokyo came in at 6th. But bragging rights for the top spot in the region still go to Singapore – which no doubt will highlight the honor as it seeks to woo more investment.
    “We have always been a hub open to the flow of people, ideas, capital, goods and services,” said Khoo Teng Chye, executive director of Singapore’s Centre for Liveable Cities, a government-linked think tank.
    Mr. Khoo’s analysis will no doubt raise eyebrows among activists who contend Singapore has sought to limit public expression and personal freedoms, and correspondingly a free exchange of ideas, in its bid to foster a more stable, business-friendly environment. But either way the survey at least confirms the increasingly-held perception that Singapore is among Asia’s best places to start or run a business and live, if not the best.
    Indeed, one of the biggest gripes of the city-state’s residents – a relatively-open immigration policy – is part of what makes the city so attractive and competitive on a global scale, experts say. The city ranked 4th in the world for “global appeal,” and analysts say that ranking is due at least in part to government policies aimed at keeping the country open to foreign capital and people.
    Singapore’s planners also have another secret weapon: Their insistence on keeping Singapore green. This, according to the report, helps make Singapore one of the most livable places in the world, which in turn places the city-state as one of the world’s top destinations for talent and capital. While some residents and visitors have ridiculed the city-state’s rules that restrict chewing gum and specify the ratio of trees to parking spaces in the city, those and other similar policies have contributed to the city-state’s attractiveness.
    Singapore’s forward-thinking approach to sustainability, Mr. Khoo says, contracts with the “grow first and clean up later,” approach of other cities – including Hong Kong. Banking everything on fast growth, he says, is detrimental in the long run. “Beyond a certain point, they realize there is too much pollution, and they end up turning away people and investors.”
    Despite all the economic problems in the West, the report found that U.S. and European cities were still the most competitive overall, though their Asian counterparts were the world’s strongest economically. Fifteen of the top 20 cities in terms of economic strength were in Asia, with twelve of them in China.
    Chinese cities Tianjin, Shenzhen and Dalian came out on top in terms of economic strength, with Bangalore at 16th, Ahmedabad at 19th and Hanoi at 20th. Though Beijing only ranks 39th for overall competitiveness, ranking quite far below New York and London, the Economist Intelligence Unit’s research forecasts that the top 32 Asian cities will grow by at least 5% annually from now to 2016 – a figure that may tip the scales in years to come, as cities in the US and Europe hover around single-digit growth.

  2. #2
    Join Date
    Dec 2009
    Posts
    6,003

    Default

    It's indeed getting v competitive to study, work even relax or retire in Singapore.

Similar Threads

  1. Replies: 0
    -: 24-09-21, 10:05
  2. Singapore, Hong Kong and Paris named world’s most expensive cities for expats: EIU su
    By reporter2 in forum HDB, EC, commercial and industrial property discussion
    Replies: 0
    -: 19-03-19, 09:49
  3. For China’s Wealthy, Singapore Is the New Hong Kong
    By reporter2 in forum HDB, EC, commercial and industrial property discussion
    Replies: 0
    -: 07-02-18, 06:51
  4. Replies: 2
    -: 28-05-16, 13:36
  5. Costliest cities: S'pore's ranking up
    By mr funny in forum HDB, EC, commercial and industrial property discussion
    Replies: 0
    -: 11-03-09, 13:27

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •