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Tech focus helps Singapore go second in globalisation index

Singapore is the second most globalised economy in the world and its IT infrastructure is critical to this achievement

Singapore has emerged in second place in the DHL Global Connectedness Index (GCI), with e-commerce and cross-border internet traffic major factors in its success.

The city-state is the only Asian country in the GCI’s top 10, with the Netherlands retaining top spot as the world’s most connected country and Europe as the world’s most connected region. Singapore and the United Arab Emirates are the only non-European countries in the top 10.

“Globalisation has served as the world’s engine of progress over the past half century,” said Frank Appel, CEO at Deutsche Post DHL Group.

The 2016 GCI report shows that global connectedness, measured by cross-border flows of trade, capital, information and people, exceeded the 2007 pre-crisis peak during 2014. In 2015, the post-crisis expansion of globalisation slowed, but the data shows it did not go into reverse.

The 2016 index revealed a rising proportion of internet traffic crossing national borders. International internet traffic, telephone call minutes and trade in printed publications showed the strongest growth over the reporting period of 2013-2015.

“This underscores the tremendous headroom available for international e-commerce to boost business activity and expand the options available to consumers around the world,” said Jürgen Gerdes, CEO post, e-commerce, parcel at Deutsche Post DHL Group.

On the other hand, gains in capital and people flows have been more modest, while the decline in the proportion of goods traded across borders accelerated in 2015.

Read more about Singapore

Singapore’s achievement is significant in the context of slowing global trade and increased competition, said Shivaji Das, partner Asia Pacific at Frost & Sullivan.

“Given the relatively poor performance of regional giants such as Indonesia in the index, it shows that Singapore will continue to play a major role in the regional and global trade and information flows,” he said.

Das said Singapore’s government policy, infrastructure investment, effective planning anticipating headwinds and its attractiveness to global talent had helped its performance.

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