Singapore Claims Top Spot as the World’s Most Innovative Country in 2024
Singapore has earned the title of the world’s most innovative country, surpassing the United States in the latest Global Innovation Scorecard. This biennial ranking, compiled by the Consumer Technology Association (CTA), evaluates 74 countries and the European Union based on factors like workforce education, business creation rates, and political and economic conditions.
Singapore’s rise to first place comes after it ranked 15th in 2023. Furthermore, this year’s scorecard was more comprehensive, consisting of 56 indicators measuring the factors that contribute to a country’s ability to drive technological advancement.
Why Singapore is the Most Innovative Country
In the 2024 ranking, Singapore excelled in several key areas, earning top scores in four of the 16 categories. The nation’s strong business environment, resilience in the face of challenges, and pro-innovation legal frameworks contributed to its success. Additionally, Singapore’s support for start-ups and small businesses, along with favourable tax policies, boosted its position as a global leader.
Singapore also stood out for its highly skilled workforce, robust broadband infrastructure, and openness to emerging technologies such as telehealth and cross-border data flows. This recognition comes as the country is making significant strides to maintain its leadership in technological innovation.
Global Recognition at CES 2024
Singapore received the prestigious Global Innovation Champion award on 9 January 2024 during the Consumer Electronics Show (CES) in Las Vegas. CTA’s CEO, Gary Shapiro, praised the country for its successful collaboration between government and industry, noting that such partnerships are crucial for driving future innovation. As the most innovative country in the world, Singapore continues to set an example for other nations, encouraging them to create environments that nurture creative and technological advancements.
