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Singapore has been ranked the region’s most innovative city, ahead of Sydney and Hong Kong.
Research conducted by Solidiance found Singapore came out on top because of the city state’s “dramatic and perpetual improvements for the past 25 years”, CNN reported.
Last year, Singapore came in third as the most innovative country on a separate list of 141 countries by the United Nations.
The Solidiance report takes into consideration the country’s availability of skilled talent, higher education, living standards and environmental sustainability, technological advancement and government regulations, which support financial freedom and global integration.
However, Singapore must not be complacent and must continue to push itself to remain ahead of its neighbours, the survey stated.
“Singapore has no other choice; it must adapt, stay opened and lead change if it is to remain relevant in the 21st century,” Damien Duhamel, managing partner Asia of Solidiance, said.
Sydney came in second place, thanks to its skilled talent pool, while Melbourne credits its third place to a high level of talent diversity.
Hong Kong came in fourth because of its advancement in technology, while Auckland rounded up the top five for its ability to attract skilled talent and tolerance for diversity.