Singapore has retained its numero-uno position on the 2015 Global Change Readiness Index (CRI), with Switzerland and Hong Kong grabbing the second and third spot. The ranking was released by KPMG International and included 127 countries for their capacity to prepare for and respond to accelerating change brought about by everything from natural disasters and economic and political shocks, to long term trends such as demographics, and new technologies.
Produced in partnership with Oxford Economics, the CRI comes as United Nations member states prepare to adopt Sustainable Development Goals in September that will help guide policies for the next 15 years.
“A revealing trend from this year’s CRI is that countries with higher scores for more inclusive economies tend to perform better in the Index, while conversely, income inequality tends to be associated with low change readiness,” said Timothy Stiles, Global Chair for International Development Assistance Services (IDAS), KPMG International in a statement. “In fact the nine countries ranked highest for inclusive growth are all in the top 15 of the Index. It sends a clear message that policies promoting inclusive growth can help countries be more equipped to manage inevitable change.”
Northern and Western European countries have dominated the top 20 overall.
Norway, United Arab Emirates, New Zealand, Qatar, Denmark, Sweden, Finland, Netherlands, and Germany are among other top 10 countries on CRI index.
The index provides unexpected insights with smaller, less wealthy and resource-endowed countries often outperforming larger economies on key measures of change readiness.
A number of lower income countries have performed well in the CRI, demonstrating the benefits of effective policy and investment in compensating for lower levels of wealth. India, ranked 67, was one of the strongest movers from the 2013 CRI (up 17 places based on that ranking), which shows a reflection of a much improved business environment.
In assessing capability for change readiness, the CRI measures a country’s capacity in three areas:
Enterprise capability – a country’s business environment
Government capability – including fiscal, regulatory and security aspects
People and civil society capability – civil society institutions, inclusiveness of growth, education, health and technology access