Singapore has won the title of the most innovative city in the Asia Pacific region, thanks to 25 years of impressive economic growth, says a survey.
Consultancy firm Solidiance examined six factors to help rank each city to reach put together a league table of innovative cities around the Asia Pacific rim.
The factors included looking at what the city offers, the talent, higher education opportunities and the availability of highly skilled workers.
The survey also took into account the city’s environmental credentials, how easy it was to live in, and technological advancements.
Government regulations which help support fiscal freedom and help the city integrate on the global stage were also a crucial factor in determining the best city.
The survey found that one of Singapore’s strongest strengths was its welcoming attitude to professionals from overseas.
City of dreams
In 13 years, the number of foreigners has risen from 8% to 14% of the city state’s population, as the number of residents has increased from 4 million to 5.3 million people.
Damien Duhamel, a managing partner at Solidiance, said: “Singapore has no other choice; it must adapt, stay open and lead change if it is to remain relevant in the 21st century.”
It’s not the first time that Singapore has been recognised as a stable and well-structured environment; The World Bank rated the city as the best place for business in the world in 2012 and 2013.
For Singapore to keep the top spot, Mr Duhamel said, it would have to remain welcoming to new cultures and ideas as well as new entrants.
The second most innovative city in the region was Sydney, which was praised for global integration, a highly skilled talent workforce and technological advancements.
Australia did well in the survey, as Melbourne was ranked third thanks to outstanding human talent category as half of the city’s population hails from overseas.
Shanghai slumps
Hong Kong was placed fourth, with the survey noting regulatory leadership and technological advancements.
In fifth place was the New Zealand city of Auckland, which was praised for tolerance of diversity and the ability to attract human talent.
The cities which received the lowest scores were New Delhi, Mumbai and Shanghai, despite India and China leading the race as the fastest growing economies in the Asia-Pacific.
However, the survey found that each city’s level of innovation did not correlate with size or growth.
The survey conducted interviews with entrepreneurs, activists, artists, chief executives, political leaders and city leaders as well as academics to find the best innovative cities.
No offence to Singapore but surely this is another example of a company writing stuff to get news coverage as opposed to an independent, objective and balanced view of innovation. Singapore is more innovative than Japan? Singapore is more innovative than Korea? Singapore is more innovative than Australia? Really? Where is the evidence of Singapore building market leading industries or even just making some money out of innovation. It just doesn’t stack up and, for those who bother to read this advertorial will see that they have failed to explain the criteria used to measure innovation and indeed openly admit that they made it up.
It is a sad reflection of the world that we live in when anyone who fancies it can get their 15 minutes of fame by producing a sound bite that appeals to the local press. Why can’t journalists probe this nonsense and expose it for what it is? Everyone knows that Asia has huge untapped potential. What it is missing is credible consultants and analysts that can produce independent, objective work that is based in reality.
Sorry for the rant but I really get fed up with the amount of shoddy work that gets passed as legitimate. The world is doomed if we cannot reverse this trend. Where are all the smart people hiding?