Published by: Vivek Dubey
Singapore tops the world’s freest economy list in 2023, dethroning Hong Kong.
Hong Kong slips to second place for the first time since 1970.
The 2023 report is based on 2021 data from 165 jurisdictions worldwide.
Source: Fraser Institute
The report measures individuals’ ability to make their own economic decisions.
Singapore leads with an economic freedom score of 8.56.
Hong Kong follows closely with a score of 8.55.
Switzerland ranks third with a score of 8.47.
New Zealand secures the fourth spot with a score of 8.43.
The United States ranks fifth with a score of 8.14.
Ireland stands sixth with an economic freedom score of 8.11.
Denmark ranks seventh with a score of 8.1.
Both nations share the same score of 8.0 and stand at 8th and 9th place.
Canada secures the tenth position with a score of 7.98.
India ranks much lower at 87th position with a score of 6.62.