Singapore has jumped six spots to rank fifth in the world in the latest A.T. Kearney Global Cities Outlook 2018, which evaluates cities across the world on economic performance, liveability and quality of life. The Lion City also remains in the Global Elite—in the top 25 cities for both the index and the outlook—taking its place alongside New York, London and Paris. It is the only Asia-Pacific city to feature in the top ten for both lists.

In an era of rapid urbanisation, A.T. Kearney’s Global Cities Report, established in 2008, was one of the first to rank cities based on their global standing and remains highly regarded for its holistic assessment of city capabilities and potential. Designed by top academics and business advisors, the analysis is based on facts and publicly available data. It provides insights into the current global reach, performance and level of development of the world’s largest cities, allowing for the identification of their core strengths and distinctive differences.

Singapore’s most significant increase in rankings in this year’s outlook was for Economics and Governance—ranked second overall—drawing on its strength as a stable and progressive economy to drive further FDI and private investments. Singapore also leads the scoreboard for Online Presence for the second year in a row, suggesting the government’s Smart Nation drive is bearing fruits thanks to the many public-private sector partnerships, initiatives for businesses, research and development and heavy investment into innovation and security. Businesses, governments and individuals are continuing to capitalise on Singapore’s easy information exchange, which this year’s report recognises as key towards future global competitiveness.

“The Singapore government has been actively investing to transform the island-state into a ‘Smart City’ equipped with cutting-edge technology and a nationwide digital platform. Various investments from the private sector have also strengthened Singapore’s journey towards a Smart Nation. The city’s commitment to continuous innovation and digitalization further ensures its spot as a leading global technology hub,” said Chua Soon Ghee, Partner and Head of Southeast Asia at A.T. Kearney.

“In today’s digital age, this is a significant factor continuing to boost Singapore’s appeal for businesses who choose the city-state as their regional headquarters. What’s more, the high levels of preparedness for both physical and cyber security provide good levels of assurance for businesses.” Chua added.

Now in its tenth edition, A.T. Kearney’s Global Cities Report provides rich, historical data to inform why certain global cities are improving in their competitiveness, and what factors are driving that success. The Global Cities Outlook evaluates a city’s potential based on four parameters: personal well-being, economics, innovation and governance.