Singapore is Asia’s top business city: Report

The Republic has been ranked the top city in Asia in the Business of Cities study by global real estate firm JLL and The Business of Cities Group, a London-based intelligence and strategy firm.

It analyses more than 200 globally-recognised studies of city performance worldwide, looking at data such as business and finance, economic growth, quality of life, and a city’s brand, reputation and influence – and it shows that Singapore has overtaken Tokyo to become Asia’s leader in higher education, mobility, science, broadband and technology.

Overall though, Singapore was third, behind New York and London. The report also named Singapore as the world’s most business-friendly city.

JLL said that while Singapore scored well in areas such as governance, financial maturity, and infrastructure, it had ranked lower on business occupancy cost, purchasing power and the cost of living.

Said Mr Chris Fossick, managing director for Singapore and Southeast Asia at Jones Lang LaSalle: “Cost is probably one area that’s challenging Singapore at the moment and that’s very difficult because obviously there is a lot of dynamic things that go into that.

“But if it could be more competitive cost-wise, that would be perfect.”

Source : Channel NewsAsia – 20 May 2015

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