SINGAPORE — Singapore has emerged as the ‘most forward-looking’ country and the second best country to invest in, according to an inaugural “Best Countries” ranking by US News & World Report, the University of Pennsylvania’s Wharton School and global brand consultants BAV Consulting.

The ranking was officially unveiled at the World Economic Forum in Davos, Switzerland, yesterday (Jan 20).

Singapore ranks as the 15th “best country in the world”, according to the survey. Germany tops the rankings as the best country overall, followed by Canada and the United Kingdom. The United States and Sweden round up the top five.

A total of 60 countries were ranked across 24 categories, based on a survey of more than 16,000 people. Some of the other categories in the ranking include ‘quality of life’, ‘citizenship’ (being a good global citizen), and ‘power’ (influence on the world stage).

As the ‘most forward-looking’ country in the world, Singapore’s leaders are seen as incubating a culture that ensures its people thrive in the years ahead. Japan and the United States are second and third respectively in this category.

India is the best country to invest in, followed by Singapore, Vietnam, Indonesia and Ireland.

Singapore also stood out in two areas among specific groups of people surveyed.

A large number of millennials rated Singapore highly (No 1) in heritage, namely cultural accessibility, rich history, good food and cultural attractions.

Singapore is also rated highly on ‘power’ (No 5) among the ‘elites’.

The Best Countries Report was started to understand the relationship between the perception of a country’s image or “brand” and its economic outcomes. The 60 countries studied together account for more than 90 per cent of global GDP.

The ranking relied on surveys from people from 36 countries in the Americas, Asia, Europe and Africa. Of those, more than 8,000 were “informed elites” (college-educated, middle or upper-class individuals). More than 4,500 were business leaders, defined as senior leaders in an organisation or individuals who own small business that employ others. The rest were from the general public.

“Government leaders should be paying attention to these rankings,” said David Reibstein, professor of marketing at the Wharton School. “This is how they’re perceived in the world and it affects their economies from within.”