SAP Concur Global Business Traveller Survey 2025 reveals new trends in business travel behaviour

Business travellers are redefining how they manage expenses on the road, blending a desire for comfort with practical cost-saving measures. But how do travellers spend their company’s money while travelling? Is there a new cost awareness? New data suggests that business travellers have two travel personas: one for work and another for vacation.

Source: SAP Concur landing page. Key visual for the 7th annual Global Business Travel Survey.

SAP Concur's survey* of 3,750 business travellers in 24 markets, including 750 respondents from Australia, India, Japan, Korea, Malaysia, New Zealand and Singapore, has revealed that nearly half (45%) of business travellers in Asia Pacific region expect travel budgets to stagnate or decrease in 2025. A further 87% report cuts to allowances over the past year.

Research highlights about spending behaviour in 2025 include:

Travellers make the most of their travel allowance

Most business travellers (85%) have recently started taking steps to make ends meet at the end of a business trip – ranging from making sure not to overspend on daily allowances to making the most of freebies. About four in 10 (43%) eat cheaper meals in order to underspend on their per diem, while nearly a third (31%) prepare their own meals rather than dining out.

Some business travellers also benefit by taking leftover food and drinks (25%) and taking home complimentary amenities from hotels and conferences (27%).

There are generational differences: 96% of Gen-Z travellers take steps to make the most of their travel allowance, compared to 88% of Millennials and 75% of Gen X.

Travellers splash the cash on business trips

Different spending patterns apply on a business versus a private trip. Just over one in three employees (36%) opt for higher quality hotels or premium rooms when travelling for work, while nearly two out of five (37%) book direct flights, even if they’re more expensive. They’re also more likely to take private transport options, such as Uber rides (36%) and spend more dining in nicer restaurants (32%).

The generations most likely to adjust their spending behaviour are Gen Z (95%) and Millennials (89%), followed by 69% of Gen X.

Travellers will spend their own money on upgrades

Travel budget cuts are affecting the experienced travellers have on the road. While employees try to make the most of their travel policy, the majority of travellers (87%) are also willing to spend their own money to enhance a trip. Younger employees are more likely to invest in their experience, with 96% of Gen-Z and 91% of Millennial travellers willing to spend their own funds on upgrades, compared to 77% of Gen X.

Travellers will pay their way for perks including higher-quality accommodations (41%), an additional hotel night to avoid a long travel day (38%), and seating upgrades (37%). They are also willing to shell out for more sustainable travel options (29%), more expensive routes that avoid layovers or use their preferred airport (31%), or preferred airlines or hotels (32%).

Integrated travel management solutions offer companies the ability to define travel policies and set booking categories to guide booking behaviour. Friendly nudging with suggestions for cheaper or preferred providers with whom companies have negotiated particularly favourable terms can also help provide employees with the greatest possible convenience without paying exorbitant amounts.

Explore

Get the 7th annual Global Business Travel Survey from SAP Concur at https://www.concur.com.sg/resource-centre/reports/7th-annual-global-business-travel-research-report

*The SAP Concur Global Business Travel Survey was conducted by Wakefield Research between April 30 and May 12, 2025, with 3,750 business travellers in 24 markets: the US, Canada, the UK, Germany, France, Benelux (Belgium, Netherlands, Luxembourg), Sweden, Denmark, Norway, Finland, Italy, Spain, ANZ (Australia, New Zealand), Middle East (UAE & KSA), Japan, Korea, India, Mexico, Brazil, SEA (Singapore & Malaysia), South Africa, Portugal, Switzerland, and Austria. In addition, 700 travel managers were interviewed across seven markets: Germany, Italy, Canada, Japan, ANZ, the UK, and the US. The research also covers the perspective of 600 CFOs across six markets: Germany, Canada, Japan, ANZ, the UK, and the US.

Travelgoogoo introduces eSIM travel club

As seasoned travellers and experts in international data roaming, the team at Singapore-based Travelgoogoo is committed to redefining global travel connectivity. Incorporated in 2023, Travelgoogoo was founded by a team with expertise in telecommunications and insurance technology (insurtech) sectors, and counts individual travellers and business partners among its customers. Their Travelgoogoo365 membership programme was launched in April to bring what they say is "the simplest, most affordable eSIM experience to date".  

Said Tony Chew, Chief Partnerships and Investment Lead at Travelgoogoo: "Travelgoogoo365 embodies our vision of uniting telecommunications, travel and digital services to deliver smarter, more connected experiences. Through strategic partnerships with likeminded organisations, we are embedding seamless connectivity where it matters most — in the journeys people take, the platforms they use, and the communities they engage with. This is just the beginning of a more collaborative, borderless future for travel." 

Richard Bok, Founder and CEO at Travelgoogoo, commented: “We want to be the last eSIM travellers will ever need to install. With Travelgoogoo365, there is no need to mull over what data roaming plan to get or swap eSIMs every trip. One membership, one eSIM, 123 destinations, and a full year of messaging and data voice calls that just work. That, to us, is brilliant basics — simple, affordable, and built for what travellers truly need: reliable access. We are not just introducing a product. We are rewriting the rules of roaming."

Travelgoogoo365 is a travel club that offers members free texting, data voice calls, and photo sharing on their favourite messaging apps across 123 destinations, 365 days a year — without the need to purchase a data plan. Powered by a lifetime global eSIM, Travelgoogoo365 removes the hassle of installing a new eSIM for every trip. Members also enjoy member-exclusive rates on additional data roaming purchases.

Travelgoogoo365 membership, priced at US$14 per year, offers basic data roaming* across 123 destinations for 365 days. As part of an introductory offer, members receive a free 3 GB high-speed data starter pack, usable in any one of the 123 destinations. After the initial data roaming pack is used up, members continue to enjoy unlimited basic connectivity - ideal for staying in touch via messaging apps - on all future trips within the year.

Members can unlock full-speed data for other apps through on-demand top-ups. Data plans include a 10 GB pack to popular destinations, including Thailand, Japan, China, the US, and the UK, priced from US$13–US$16.50. According to Bok, members can enjoy rates as low as under US$2 per GB.

Key features for the programme include:

- Ease of use: A single global eSIM model eliminates the hassle of juggling multiple SIM cards or dealing with complex setup processes.

- Unlimited messaging: Stay connected with WhatsApp, LINE, Telegram, Viber, WeChat, Zalo, and other popular messaging apps through unlimited texts, data voice calls and photo sharing.

- Flexible data roaming: Members purchase full-speed travel data only when they need it.

Travelgoogoo365 also includes 24x7 chat support for members who encounter connectivity issues when they are travelling.

Travelgoogoo CFO Julian Wong emphasised: "At Travelgoogoo, we are revolutionising connectivity with a frictionless eSIM solution designed for both our B2B2C partners and D2C users. Our focus on conversational commerce allows us to engage customers on their preferred messaging channels, starting with key platforms and expanding over time to ensure a seamless experience. Whether embedding connectivity into partner ecosystems or providing a direct, hassle-free journey, we are redefining how people stay connected, no matter where their journeys take them."

Travelgoogoo partners with established telecommunication service providers that offer robust infrastructure and high-performance network coverage. This allows the company to secure reliable, high-speed connectivity with multiple local carriers in key travel destinations at competitive rates. The strategic approach also enhances network redundancy, optimises performance and eliminates roaming hassles, delivering a seamless mobile experience without the need for physical SIM cards.

Bok shared that Travelgoogoo is working to expand into more countries, guided by customer demand and local regulatory requirements. The company is working to include Singapore in the coming months.

*By definition, residents of a country are not roaming and would not be able to make use of the data pack for domestic consumption.

Business leaders’ tech and investment priorities unveiled for 2025

Capgemini Research Institute has published its latest global reports, Navigating uncertainty with confidence – Investment priorities for 2025* and Top Tech Trends of 2025: AI-powered Everything, unveiling business priorities for investments and technology in the year ahead.

Capgemini’s investments trends report found that businesses remain positive about their organisation’s outlook despite ongoing uncertainty in the market environment, with 62% feeling optimistic about their organisation’s prospects for 2025. In spite of a cost containment imperative, this optimism is driving increased investment, notably in customer experience, supply chains, and sustainability. These initiatives  are crucial to enabling more innovation, efficiency, competitiveness and resilience-building.

The report found business leaders are feeling more confident about the year ahead than they were 12 months ago – 62% are optimistic about their organisation’s prospects for 2025, up 6 percentage points on the same time last year and 20 since 2023. However, executives have more confidence in their own organisations than the global market at large, with 37% optimistic about the prospects for the global operating environment in the next 12-18 months, only slightly up on last year.

In the current market uncertainty, 56% expect to prioritise cost reductions over revenue growth for 2025. But executives know that this change requires investment – half say that their organisation plans to increase overall investment in 2025, with just under a quarter anticipating lower levels of investment compared to 2024, and the rest expecting no change.

“As we look to 2025, business leaders are navigating uncertainty with an attitude of confidence and resilience – two qualities that our research shows they are looking to instill in their organisations through technology investment,” said Aiman Ezzat, CEO, Capgemini. 

“Technology has a key role to play to improve competitiveness and productivity, while reducing costs and making all-important efficiency gains. With a focus on innovation, supply chains and sustainability – which is increasingly being harnessed for its value-driving potential – leaders will set themselves up to succeed in an uncertain environment and build resilient, adaptable organisations. Crucially, this will help shape a more innovative, sustainable and inclusive global economy.”

Much of business leaders’ confidence continues to focus on customer experience, followed by engineering, research and development (R&D), and innovation - with nearly eight in 10 and nearly three quarters of executives now planning to increase investment in these areas, respectively. 

However, the sharpest acceleration in investment is focused on supply chain transformation. This is where 63% say they will increase their spend in 2025 – up from less than half in 2024 – and by 9.4% on average. New-generation supply chains will integrate AI and the Internet of Things (IoT) to enhance efficiency, reduce waste, and support a business’s sustainability goals, as well as improve decision-making and reduce costs overall.

Globally, seven in 10 executives are concerned about the impact of rising tariffs and bilateral trade disputes on their organisation’s competitiveness. Almost two thirds are also concerned about the impact of a potential global trade war on their organisation’s operations and market access. On this front, executives in Japan and China are the most concerned about rising tariffs and bilateral trade disputes, and the least about a potential global trade war. 

To mitigate these risks and build resilience, most organisations globally are diversifying their sourcing and/or friendshoring. Almost three in four executives are already de-risking their supply chains by investing in other emerging countries to reduce reliance on China, up from less than half last year. In parallel, almost two thirds of them now confirm that friendshoring will represent a significant part their organisation’s sourcing and production strategies in 2025 (up from 45% last year).

Sustainability investment is increasingly seen as a business value driver as well as an asset for compliance and efficiency, but a trend that is impacted by geopolitics. Capgemini's A world in balance 2024 report found that under a quarter (23%) of executives surveyed said that the cost of sustainability investments outweigh the benefits, and over two thirds agreed that anticipating or pre-empting stricter future regulations is a key driver of sustainability initiatives, up from 57% in 2023. Further, 64% of executives surveyed in June-July 2024 agreed that the geopolitics of the time were an increasing consideration in sustainability investments.

In the current investment report, 62% of executives (up 10 percentage points from 2024) are planning to increase their sustainability budgets, by 10.5% on average. The priority areas are climate tech (72% of executives planning to spend more), including hydrogen, renewables, batteries, nuclear, and carbon capture. 

Batteries are seen as the top climate tech investment in 2025, with over half of business leaders ranking them in their top three, in particular manufacturers and automotive companies – followed by solar energy. Besides climate tech, the other top areas of increased investment in sustainability are sustainable R&D and product development, biodiversity protection and restoration, and water conservation/management.

Fifty-seven percent of business leaders in Singapore are optimistic about the outlook of their organisation, and 58% plan to increase their organisation's investments in 2025. AI is the top technology investment area in 2025 for 67% of businesses in Singapore. According to the Capgemini tech trends report:

- Three quarters of Singapore organisations are expected to begin proofs of concept (PoCs) or completely adopt AI agents.

 - Over 60% of organisations in Singapore will deploy PoCs for AI/gen AI in cybersecurity in 2025.

- Almost one-quarter of organisations in Singapore will deploy partial scale AI-powered robots in 2025.

- Seven in 10 business leaders among large organisations in Singapore are planning to increase investments in sustainability. Six in 10 have plans to increase investments in climate tech.

- Fifty-seven percent of business leaders among large organisations in Singapore have plans to increase investments in the supply chain.

- More than half of the organisations (58%) are exploring new-generation supply chains in Singapore that are agile, greener and AI-assisted.

Globally, Singapore has the highest percentage of business leaders in large organisations who have plans to increase investments in customer experience (85%), and manufacturing/operations (72%).  

When it comes to global tech trends, Capgemini’s findings highlight the critical need for businesses to leverage technology, specifically AI, as it empowers them to elevate efficiency and innovation, and adapt to unpredictable market conditions. The top tech trends for 2025 include:

Generative AI: from copilots to reasoning AI agents

Autonomous intelligent systems, capable of learning and adapting to new situations, are becoming more prevalent and valuable across various industries. Seven in 10 executives and 85% of investors (venture capital, private equity, and commercial banks) picked AI agents as a top-three technology by impact for 2025.

AI and generative (gen) AI in cybersecurity: new defences, new threats

AI is transforming cybersecurity as well as cyberthreats. Industry executives in the Capgemini survey ranked AI and gen AI in cybersecurity as the topmost trend out of more than 60 trends for 2025.

AI-driven robotics: blurring the line between human and machine

Industries are using collaborative robots – or cobots – and AI-driven robotics to enhance productivity and safety. As robots become more autonomous and AI takes on complex decision-making roles, the traditional structure of authority in the workplace may shift, Capgemini said.

AI: driving nuclear resurgence

With the growing need for clean, reliable power to meet the energy demands of AI and other high-energy technologies, nuclear energy is poised to play a crucial role in 2025 and beyond. Capgemini believes that 2025 will be an important year for the advancement of small modular reactors (SMRs).

New-generation supply chains

Faced with increasingly complex – and often unpredictable – market conditions, organisations are focusing on improving the efficiency, resilience, agility, circularity, and sustainability of their supply chains. Technologies like AI, data, Blockchain, the Internet of Things (IoT), and terrestrial-satellite network connectivity will all play a role in achieving improvements in global logistics.

*The Capgemini Research Institute surveyed 2,500 business leaders from 2,500 organisations across 17 countries in North America, Europe, and Asia-Pacific and included nine industries and sectors: automotive; consumer products; banking and capital markets; insurance; retail; life sciences; telecoms, media and high-tech; manufacturing; and energy and utilities. The survey took place from October 23 to November 20, 2024 - half of the sample as collected prior to the US elections, and half was collected after. Across the total sample, 70% of respondents are from organizations with more than US$1 B in annual revenue and 30% are mid-sized organisations with US$100 million to US$1 B in annual revenue.

Three quarters of organisations see social unrest as a top risk in 2025

International SOS has released its 2025 Risk Outlook report, revealing essential insights into the mounting challenges for organisational and workforce resilience, alongside risk predictions for 2025. 

The research uncovers a fragmenting world, with 65% of the surveyed senior risk professionals perceiving that risks have increased over the past year and 69% think it is likely geopolitical tensions will have a significant impact on their business and/or people in 2025. Three quarters of the primary decision-makers surveyed see social and political unrest as a top risk. This comes as 78% think it is likely burnout and stress will have a significant impact on their business and/or people in the coming year.

Even in the ongoing permacrisis environment, the new research highlights that some of the most significant risks are those for which respondents said they were least prepared, including conflict, geopolitical tensions, and protests.

Sally Llewellyn, Global Security Director at International SOS, explained: "The interconnected nature of today’s risks are creating an environment where issues escalate quickly and unpredictably. Geopolitical tensions are triggering supply chain disruptions and cyberthreats, while misinformation and disinformation amplify confusion, eroding trust within organisations and across borders. These complexities demand a shift from reactive to predictive strategies, leveraging intelligence-driven insights and cross-functional collaboration. 

"While the challenges are significant, organisations that take a systematic approach to understanding and mitigating these layered risks can not only protect their people and operations but also strengthen their resilience in an era of uncertainty."

Geopolitical instability ranked as a top concern for organisations heading into 2025, underscoring the fragility of a deeply interconnected global landscape, International SOS said. Businesses are now contending with an environment where conflicts are not confined to political borders but reverberate across industries, economies, and supply chains. 

Report highlights include:

- Three quarters of respondents who are primary decision makers think political and social unrest and protests are likely to have a significant impact on their business and/or people in the next 12 months.  

- Nearly three quarters (74%) of surveyed primary decision makers also express the belief that geopolitical tensions are likely to have a significant impact on their business and/or people in the coming year.

- Seven in 10 (73%) of surveyed primary decision makers highlight their belief that transport risks and disruptions are likely to have a significant impact on their businesses and/or people in the next year. The risks are manifesting in varied and often overlapping ways. In the Middle East, the ongoing crises are intensifying polarisation, for example.

The increasingly volatile geopolitical landscape is taking a profound toll on mental health with 65% of participants predicting that political stress and anxiety will have a significant impact on their business and/or people in 2025. These pressures are compounded by broader wellness risks that the following percentage of surveyed experts predict are likely to have a significant impact on their business and/or people over the next 12 months:

• Stress and burnout: 78%
• Impact of the cost-of-living crisis: 75%
• Mental health conditions: 70%
• Quiet quitting: 52%
• Climate change anxiety: 45%

Dr Irene Lai, Global Medical Director at International SOS, said: "The seemingly unstable, unpredictable and uncontrollable nature of global events, coupled with the cost-of-living crisis, are major factors contributing to employee stress and burnout. Businesses that proactively invest in employee wellbeing are building operational resilience. Creating a healthy workplace includes protecting and promoting mental health, which will not only help employees weather these stresses but also drive higher engagement, productivity, and retention – essential for navigating a rapidly changing world."

Despite the many complexities and challenges organisations face today, there are clear pathways to building resilience, International SOS said. According to the report, resilient organisations share three key characteristics:

Access to actionable intelligence

Decision-makers need timely, relevant, and verified information tailored to their organisation's specific risks. This is critical in addressing misinformation and disinformation; 27% of participants reported that their organisation has been impacted by misinformation, with a further 32% reporting being unsure if misinformation has impacted their organisation – a potential blind spot.

Integrated risk management platforms

Unified risk management systems streamline processes and enhance the productivity of risk managers. These platforms also enable seamless communication across teams, which can help leaders support their employees in when dealing with the impacts of risks such as extreme weather (nearly half, or 49% of experts believe that the health impacts of natural disasters and extreme weather events will have a significant impact in 2025). By providing a single platform of reliable information, organisations can respond swiftly to both anticipated and unforeseen risks.

Optimised resource allocation

Consolidating resources allows organisations to prioritise high-risk areas without overextending. For example, 64% of respondents highlight increasing employee expectations about duty of care. This finding makes it essential to embed proactive health, safety, and security measures into operations, International SOS said, to address current and emerging risks.

Ipsos: Over half of all Singaporeans upbeat about 2022, mixed feelings about 2023

An annual global survey by Ipsos on people’s perspective of the year gone by and predictions for the year ahead has found that nearly three quarters (73%) of global citizens say it has been a bad year for their country, 4 percentage points lower than those who had said the same about 2021.

On average, across all 36 countries surveyed in the Ipsos Global Predictions for 2023 report, over half (56%) described 2022 as a bad year for themselves and their family. Even more (73%) said 2022 has been a bad year for their country. Both figures are better than for 2021 (58% and 77% respectively) and markedly better from the annus horribilis that was 2020, when 90% said it had been a bad year for their country and 70% that it had been a bad year for them and their family.

In contrast, Singaporeans are feeling more positive about how the year went. While slightly more than half (57%) of Singaporeans say that it was a bad year for Singapore, this is a significant 23 points lower than the sentiment measured a year ago.

The economy in 2023

There is split optimism for the year ahead with about half of (55%) Singaporean respondents saying that the global economy will be stronger in 2023. There is a little more optimism for their personal situations with 64% saying that 2023 will be a better year for them than it was in 2022. This is a 15% drop from the sentiment measured a year ago, as inflation has begun to take centre stage over the receding pandemic.

Nearly nine in 10 (87%) Singaporeans believe that prices in the country are likely to increase faster than people’s incomes. Six in 10 Singaporeans also say that it is likely that major stock markets around the world will crash in 2023. Citizens are also expecting higher interest rates (83%) and unemployment (71%) in 2023.

Even as fears around rising prices loom nearer, Singaporeans trust in the overall economic stability of the country. While about half (46%) of global citizens expect their country to require an emergency bailout from the IMF next year, a lower than average 35% of Singaporeans say so of Singapore.

World security in 2023

Ipsos noted that world security has been very much on everyone’s minds in 2022 with active conflict zones in several parts of the world and international tensions rising in others. The possible escalation of such conflicts has increased concern that nuclear weapons will be used somewhere in the world.

More than half (56%) of Singaporeans now feel this is a likely scenario rather than a mere possibility, up markedly from the 40% seen this time last year. The anxiety is particularly high in neighbouring Indonesia (69%), but considerably lower in China (40%). Nearly four in 10 (39%) Singaporeans expect the war in Ukraine will end in 2023, and another 40% expect it to continue.

The role of technology in potential disruption is also recognised. Nearly half (48%) of Singaporeans say it is likely hackers from a foreign government will cause a global IT shutdown (vs global average of 44%). 

The general mood of anxiety has even had knock-on effects on concerns about catastrophic stellar events. Now, 27% of Singaporeans think an asteroid strike on earth is likely in 2023 (up 6% from last) while 22% expect aliens to visit the earth (up 8% from last year).

Environment in 2023

Most people around the world believe we will see more climate change consequences in 2023. Seven in 10 Singaporeans say it is likely there will be more extreme weather events in the country next year. In addition, 60% of Singaporeans say 2023 will likely be the hottest year on record. There is some hope for a breakthrough in technology that will halt climate change, with 43% of Singaporeans saying that this is likely. Indonesia is most optimistic, with 76% saying it is likely, and Japan most pessimistic with just 14% thinking this will be so.

Expectations for major progress in tackling climate change are relatively low: The numbers who expect to see people flying less than they did in 2019 before the Covid-19 pandemic are down from 67% last year to 43% now. This is no doubt driven by a desire to resume foreign travel habits as the rules and restrictions introduced to try to limit the spread of Covid have been eased around the world. 

Society in 2023

Six in ten (63%) Singaporeans anticipate no further Covid-19 lockdowns in the country next year as people get back to some form of normality. In China and South Korea, around half of the surveyed people (43% and 44% respectively) think it is likely that this will be the case. In Indonesia, the vast majority (82%) are very confident that they will not experience further lockdowns in 2023.

It is not yet clear to what degree the changes to working patterns that were enforced by Covid will persist and continue to evolve – 46% of Singaporeans believe that it will become normal for businesses in Singapore to implement a four-day working week during 2023. At the same time, the proportion thinking that many more people will live their lives in virtual worlds has dropped by 15% from last year to 57%.

Globally, around one in three (34% up from 28% last year) say is likely that people in their country will become more tolerant of each other. In Singapore, 52% say this is likely, up 13% from last year.

BTSE Debit Card aims to open up global access to funds

Source: BTSE. The BTSE Debit Card.

A new crypto debit card accepted at over 53 million MasterCard merchants worldwide and compatible with more than 1 million ATMs around the world has launched. The BTSE Debit Card is fundable with multiple fiat and cryptocurrencies, and does not need to be linked to a bank account.

BTSE is a fintech company that empowers individuals to take control of their financial freedom. Its crypto debit card will enable balances to be stored in four stablecoins, including Tether (USDT), USD Coin (USDC), TrueUSD (TUSD) and Digital Chinese Yuan (DC), as well as eight fiat currencies, including Euros, British pounds, HK$, A$, S$, C$, Japanese yen and US$.

Highlights of the card include:

- Withdrawing up to US$5,000 a day at over one million ATMs around the world.

- A spending limit of up to US$250,000 a month.

- Usable everywhere MasterCard is accepted

- Accumulate points with purchases. The points can be exchanged for rewards in BTSE’s upcoming rewards shop.

BTSE has also announced a membership programme to enhance the features of the card further. BTSE Elite membership starts at US$9.99 per month and will include a free debit card upon signup.
Limited personal information is collected during signup to protect card users.

Jonathan Leong, Co-Founder and CEO of BTSE said, “With the BTSE Debit Card, we set out to solve issues that repeatedly arise with a large percentage of people, crypto and fiat holders alike that face obstacles when attempting to access their funds globally – obstacles that I see as unjustified.”

“The card offers users a globally-accepted payment option with high limits, a rewards programme, and support for multiple fiat and crypto funding options, all without the need for a bank account. Additionally, the card will only convert assets upon use, thereby allowing users to maximise their crypto asset value and appreciation.”

BTSE recently became a member of the Liquid Network – a global, collaborative effort to increase financial movements across exchanges and reduce reliance on traditional currencies.

Details:

The BTSE Debit Card costs $14.99.

The physical card is officially set to launch in May. Preregister for a card

CEOs see slower economic growth in 2020

- CEOs in every region across the world predict slower economic growth

- Confidence in companies’ own revenue growth lowest since 2009

- Findings from PwC’s 23rd Annual Global CEO Survey

CEOs are showing record levels of pessimism in the global economy, says PwC, with 53% predicting a decline in the rate of economic growth in 2020.

Source: PwC. Regression analysis on change in CEO confidence against GDP growth.

This is up from 29% in 2019 and 5% in 2018, the highest level of pessimism since the consultancy started asking the question in 2012. In contrast, the number of CEOs projecting a rise in the rate of economic growth dropped from 42% in 2019 to 22% in 2020.

These are some of the findings of PwC’s 23rd survey of almost 1,600 CEOs from 83 countries across the world, launched at the World Economic Forum annual meeting in Davos, Switzerland.

The pessimism is even more pronounced in Singapore with 84% of CEOs expecting global GDP growth to decline over the next 12 months and only 6% expecting it to improve. Two years ago CEOs in Singapore had a record level of optimism, where 57% expected an increase in GDP growth.

Yeoh Oon Jin, Executive Chairman, PwC Singapore said: “2019 was not an easy year for business leaders in Singapore, with record low GDP growth in Singapore and a highly volatile geopolitical environment globally. In addition to external pressures, many businesses are still on their digital transformation journeys and are embarking on upskilling programmes for their employees, both of which will require significant investments in the near term. It is therefore not surprising that while GDP is expected to pick up in 2020, only about one in four CEOs in Singapore are confident in revenue growth for the next 12 months.”

CEOs are also not as positive about their own companies’ prospects for the year ahead, with 25% of CEOs in Singapore saying they are “very confident” in their own organisation’s growth over the next 12 months (27% globally, 29% in the Asia Pacific region).

Global CEO sentiment about their own revenue growth prospects has proven to be an excellent predictor of global economic growth. Analysing CEO forecasts since 2008, the correlation between CEO confidence in their 12-month revenue growth and the actual growth achieved by the global economy has been very close. If the analysis continues to hold, global growth could slow to 2.4% in 2020, below many estimates including the 3.4% October growth prediction from the IMF.

In 2019, when asked about the top threats to their organisation’s growth prospects, uncertain economic growth ranked outside the top 10 concerns for CEOs globally, at No. 12. This year it leapt to third place, just behind trade conflicts – another risk that has risen up the CEO agenda – and the perennial over-regulation, which has topped the table as the No. 1 threat for CEOs globally.

In Singapore, trade conflicts* (97%) emerged as the top concern for CEOs, followed by uncertain economic growth (94%) in second and then protectionism (88%). The top three concerns point towards the strong influence that the global environment has on Singapore as a globalised economy.

Technology

While CEOs around the world express clear concerns about the threat of over-regulation, they are also predicting significant regulatory changes in the technology sector. Globally, over two-thirds of CEOs (75% in Singapore) believe that governments will introduce new legislation to regulate the content on both the Internet and social media and to break up dominant tech companies.

A majority of CEOs (51% globally, 59% in Singapore) also predict that governments will increasingly compel the private sector to financially compensate individuals for the personal data that they collect.

Skills

While the shortage of key skills remains a top threat to growth for CEOs and they agree that retraining/upskilling is the best way to close the skills gap, they are not making much headway in tackling the problem with only 16% of Singapore CEOs (18% globally) saying they have made “significant progress” in establishing an upskilling programme.

Top challenges Singapore CEOs faced when it comes to upskilling were employees’ ability to learn new future skills (22%) and retaining upskilled employees (19%). Despite the challenges around digital upskilling, there are visible signs of progress. A third of CEOs in Singapore said that upskilling programmes were very effective in driving greater innovation and accelerated digital transformation while two-fifths of CEOs linked it to higher workforce productivity.

Yeoh said, “In the quest for greater innovation, transformation and productivity through upskilling of the workforce, a key factor for success is a clear plan that is strategically aligned to meet business needs. Organisations must clearly identify skills gaps and mismatches, build a futureproof skills strategy and lay the necessary cultural foundation. Without these building blocks in place, business leaders risk implementing programmes that are not in line with their futureproofing strategies.”

Climate change

Globally, CEOs are also increasingly concerned about cyber threats and climate change and environmental damage. Climate change is still not in the CEOs’ top 10 threats to growth, having been overshadowed by other threats despite the increasing number of extreme weather events and the intensity of debate on the issue.

Although climate change does not appear in the top ten threats to CEOs’ growth prospects, CEOs are expressing a growing appreciation of the upside of taking action to reduce their carbon footprint. Compared to a decade ago, when we last asked this question, CEOs are now twice as likely to “strongly agree” that investing in climate change initiatives will boost reputational advantage (30% in 2020 compared with 16% in 2010) and 25% of CEOs today compared with 13% in 2010 see climate change initiatives leading to new product and service opportunities for their organisation.

Views from CEOs in Singapore are even stronger with 50% saying they ‘strongly agree’ that there will be reputational advantages and 41% seeing new product and service opportunities.

However, for these opportunities to turn into long term success stories, the principles of climate change need to be embedded right across a businesses’ supply chain and customer experience.

Explore:

Read PwC’s 23rd Annual Global CEO Survey – Singapore Report

Download the global report

Watch the associated video

*PwC conducted 1,581 interviews with CEOs in 83 countries, of which 32 were from Singapore, between September and October 2019.

The sample is weighted by national GDP to ensure that CEOs’ views are fairly represented across all major regions. Seven percent of the interviews were conducted by telephone, 88% online, and 5% by post or face-to-face. All quantitative interviews were conducted on a confidential basis.

Forty-six percent of companies had revenues of US$1 billion or more; 35% of companies had revenues between US$100 million and US$1 billion; and 15% of companies had revenues of up to US$100 million. Fifty-five percent of companies were privately owned.

**It should be noted that the survey was conducted in September and October 2019, before the US-China trade war deal signed in January 2020.

Sony launches Picture This Festival for the Planet competition

Sony Pictures Television Networks (SPTN), in partnership with the United Nations Foundation, has announced the opening of the Picture This Festival for the Planet, a short-film competition for emerging filmmakers, everyday storytellers and changemakers worldwide to showcase the positive future they see for our planet.

People from over 70 countries are invited to submit videos inspired by the Sustainable Development Goals (SDGs), a set of global goals agreed upon by the United Nations to end poverty, protect the planet and promote prosperity for all.

In mid-2018, eight regional winners will be flown to Los Angeles, US to attend the Picture This Festival for the Planet for a day of networking and training alongside industry leaders and social impact partners at the Sony Pictures Studio lot, followed by a screening of the regional winners’ films. Regional winners will receive airfare and accommodations for two nights in Los Angeles, along with a Sony RX0 Camera and a one year WeTransfer Plus account. The grand prize winner honored with a Sony A6500 camera and a SEL1670 lens. In Asia, the first 100 successful entries will receive a one-year WeTransfer Plus account worth US$120 each.

Andy Kaplan, President, Sony Pictures Television Networks, said: “At Sony, we are proud champions of the intersection between storytelling and innovation and are incredibly excited to spearhead Picture This. With the support of the United Nations Foundation and our other partners, we look forward to elevating and amplifying these important development goals through the voices of emerging creatives and acknowledge their good work in a meaningful way.”

SPTN launched a similar contest in 2016 across its channel portfolio worldwide, including its flagship brands in Asia, AXN, Sony Channel, GEM, ONE and Animax and those same channels will participate in this year’s festival.

In addition to Kaplan, the judges include: Megan Boone, environmental advocate and actress from the TV series The Blacklist; Elizabeth Cousens, Deputy CEO, United Nations Foundation; Marie Jacobson, EVP Programming & Production, Sony Pictures Television Networks; Tom Bernard & Michael Barker, Co-Presidents, Sony Pictures Classics; NP Singh, MD & CEO, Sony Pictures Networks India; Glenn Gainor, President of Physical Production, Screen Gems; Debbie Levin, President & CEO, Environmental Media Association; and Damian Bradfield, President and Chief Marketing Officer, WeTransfer.

Cousens said: “The Picture This Festival for the Planet is an innovative new platform to connect global audiences to what is happening on the ground as people put the SDGs into action in their daily lives. The United Nations Foundation appreciates Sony’s deep commitment to sustainability and its willingness to leverage its creativity and reach to bring the SDGs to new audiences. By celebrating individual stories of people around the world actively working to protect people and planet, Picture This will help inspire others to join the effort to realise these ambitious – and achievable – goals."

Sony Pictures Television Networks is a division of Sony Pictures Television Inc., a Sony Pictures Entertainment company. The Picture This Festival for the Planet is Sony Pictures Entertainment’s  latest project to bring awareness to the SDGs. In 2016, the United Nations and Sony Pictures Entertainment launched Angry Birds for a Happy Planet, a global youth outreach campaign that leveraged online and social media platforms to encourage action to protect the planet and fight climate change. Centered on the Sustainable Development Goal No. 13 – to take urgent action to combat climate change and its impacts, the campaign featured Red and other characters of The Angry Birds Movie. In 2017, supported by the cast of the Smurfs: The Lost Village, audiences were encouraged to join Team Smurfs for the Small Smurfs Big Goals campaign that inspired everyone to learn about and support the 17 Sustainable Development Goals.

Details:

The contest is open to entrants from Brunei, Cambodia, mainland China, Fiji, Hong Kong, India, Indonesia, Japan, Macau, Malaysia, Maldives, Mongolia, Myanmar, Palau, Papua New Guinea, Philippines, Singapore, South Korea, Sri Lanka, and Taiwan. Fiction or non-fiction are welcome, and the film can be of a wide range of genres, new or existing. Videos should be between one and eight minutes in length. Submissions for the Picture This Festival for the Planet close April 30, 2018. Entry is free. Register

Explore:

Watch the video introducing the Picture This Festival for the Planet 

Utilities: the most critical industry in the world, says Vertiv

Utilities, including electricity, gas, nuclear power and water treatment, are the most critical industries in the world according to a new ranking from Vertiv, formerly Emerson Network Power.

Vertiv convened a panel of global critical infrastructure experts to systematically quantify and rank the criticality of multiple industries based on 15 criteria. Mass transit—specifically rail and air transportation—ranked second on the list, followed by telecommunications, upstream oil and gas activity and cloud and colocation. The full list is available in a new report, Ranking the World’s Most Critical Industries, released today.

Source: Vertiv website.

The panel set criteria encompassing the range of potential impacts from the loss of availability of critical systems and weighted them based on the severity of the impact. These criteria then were used to create a criticality rubric the panel used to score the industries, which then were ranked by their average scores.

“If there is a common theme at the top of this list, it is the interconnectedness of these industries,” said Jack Pouchet, VP, market development, Vertiv. “These sectors are important to the foundation of today’s society, and downtime in any of these areas can reverberate across industries and around the globe. This will only continue as our world becomes more mobile and more connected and as the Internet of Things (IoT) expands.”

Clean power and water are fundamental needs in a developed society and underpin most other industries and services, making utilities a clear choice as the most critical industry. Mass transit ranked second, with panelists citing not just the safety of travellers, but the massive impact delays and disruptions can have across multiple businesses, markets and the world. The No. 3 ranking for telecommunications reflects the importance of communications and connectivity in personal and business activities and emergency situations.

Financial services topped the list of industries ranking highest in terms of financial impact of unplanned downtime. E-commerce was second, followed by cloud and colocation. Cloud and colocation also ranked fifth overall in the list of most critical industries due to the increased dependence on those platforms across multiple businesses. The panel also identified cloud and colocation as one of several rapidly emerging industries that are becoming increasingly critical.

“Cloud and colocation growth continues to accelerate,” said Tony Gaunt, panelist and Senior Director for colocation, cloud and banking, financial services and insurance for Vertiv in Asia. “We are right at the beginning of the up curve for core industries’ cloud adoption, and it’s likely that future critical services—the IoT networks that support smart cities and manufacturing, for example—will develop in the cloud.”

Interested?

Get the Ranking the World’s Most Critical Industries report

To see how other industries rank, use the Criticality Calculator

Asia shines in global indices on talent, innovation

India and Vietnam are outperforming their development-level peers, according to the Global Innovation Index 2017* (GII) co-authored by Cornell University, INSEAD and the World Intellectual Property Organization (WIPO). Key findings show the rise of India as an emerging innovation centre in Asia.
 
Each year, the GII surveys some 130 economies using dozens of metrics, from patent filings to education spending providing decision makers a high-level look at the innovative activity that increasingly drives economic and social growth. In a new feature for the GII, a special section looks at “invention hotspots” around the globe that show the highest density of inventors listed in international patent applications.

Now in its 10th edition, the GII 2017 notes a continued gap in innovative capacity between developed and developing nations and lacklustre growth rates for research and development (R&D) activities, both at the government and corporate levels.

“Innovation is the engine of economic growth in an increasingly knowledge-based global economy, but more investment is needed to help boost human creativity and economic output,” said WIPO Director General Francis Gurry. “Innovation can help transform the current economic upswing into longer-term growth.”

Global rankings 2017, with 2016 rankings in brackets

1	Switzerland (No. 1 in 2016)	14	Japan (16)
2	Sweden (2)	15	France (18)
3	Netherlands (9)	16	Hong Kong (14)
4	US (4)	17	Israel (21)
5	UK (3)	18	Canada (15)
6	Denmark (8)	19	Norway (22)
7	Singapore (6)	20	Austria (20)
8	Finland (5)	21	New Zealand (17)
9	Germany (10)	22	Mainland China (25)
10	Ireland (7)	23	Australia (19)
11	Korea (11)	24	Czech Republic (27)
12	Luxembourg (12)	25	Estonia (24)
13	Iceland (13)

In 2017, high-income economies took 24 of the top 25 spots, China being the exception at No. 22. In 2016, China became the first-ever middle income economy in the top 25. 
 

“Efforts to bridge the innovation divide have to start with helping emerging economies understand their innovation strengths and weaknesses and create appropriate policies and metrics,” said Soumitra Dutta, Dean, Cornell SC Johnson College of Business, Cornell University. “This has been the GII’s purpose for more than ten years now.”

A group of middle and lower-income economies performed significantly better on innovation than their current level of development would predict: a total of 17 economies comprise these ‘innovation achievers’ this year, a slight increase from 2016. Next to innovation powerhouses such as mainland China, Japan, and Korea, a group of Asian economies including Indonesia, Malaysia, Singapore, Thailand, the Philippines and Vietnam are actively working to improve their innovation ecosystems and rank high in a number of important indicators related to education, research and development (R&D), productivity growth, high-tech exports, among others.  

The theme of the GII 2017, Innovation Feeding the World, looks at innovation carried out in agriculture and food systems. Over the next decades, the agriculture and food sector will face an enormous rise in global demand and increased competition for limited natural resources. In addition, it will need to adapt to and help mitigate climate change. Innovation is key to sustaining the productivity growth required to meet this rising demand and to helping enhance the networks that integrate the sustainable food production, processing, distribution, consumption, and waste management known as food systems.

“We are already witnessing the rapid, worldwide emergence of ‘digital agriculture,’ which includes drones, satellite-based sensors and field robotics,” said Bruno Lanvin, INSEAD Executive Director for Global Indices. “Now there is an urgent need for ‘smart agriculture’ to optimise supply and distribution chains and foster creative new business models that minimise pressure on land, energy and other natural resources - while addressing the needs of the world’s poorest.”

“By 2050, the world’s population is estimated to reach 9.7 billion. This presents the global agricultural sector with a daunting challenge. The stage has been set for a potential global food crisis if policy makers and other stakeholders fail to implement agricultural innovation that significantly boosts productivity,” said Barry Jaruzelski, Principal at Strategy&, PwC's strategy consulting business.

Korea maintains its top overall rankings in patenting and other intellectual property (IP)-related indicators, while ranking second in human capital and research, with its business sector contributing significantly to R&D efforts. Japan, ranked third in the region, is in the top 10 global economies for R&D, information and communication technologies, trade, competition, market scale, knowledge absorption, creation, and diffusion.

China continues moving ahead in the overall GII ranking (22^nd overall this year), reflecting high scores in business sophistication and knowledge and technology outputs. China this year displays a strong performance in several indicators, including the presence of global R&D companies, research talent in business enterprise, patent applications and other IP‐related variables.

Within the Association of South East Asian Nations (ASEAN): 

• Singapore is the top performer in most of the indicators, with a few notable exceptions: ICT services exports, where the Philippines leads, and expenditure on education, where Vietnam leads. 
• Thailand’s strengths include creative goods exports and gross domestic expenditure on R&D (GERD) financed by business, where it places 5th and 6^th globally. 
• Vietnam shows the second best rank of the region in expenditure on education and also performs well in labour productivity growth, economy-wide investment, and foreign direct investment net inflows. 
• Malaysia ranks well in high-tech imports and exports, university/industry research collaboration, and graduates in science and engineering.

By subregion, India, 60^th globally, is the top-ranked economy in Central and Southern Asia. It has outperformed on innovation relative to its GDP per capita for seven years in a row, researchers note. India has shown improvement in most areas, including in infrastructure, business sophistication, knowledge and technology and creative outputs. India ranks 14^th overall in the presence of global R&D companies, considerably better than comparable groups of lower- and upper-middle-income economies. India also surpasses most other middle-income economies in science and engineering graduates, gross capital formation, GERD performed by business, research talent, on the input side; quality of scientific publications, growth rate of GDP per worker, high-tech and ICT services exports, creative goods exports, high-tech manufactures, and IP receipts on the output side.

“Public policy plays a pivotal role in creating an enabling environment conducive to innovation. In the last two years, we have seen important activities around the GII in India like the formation of India’s high-level Task Force on Innovation and consultative exercises on both innovation policy and better innovation metrics,” said Chandrajit Banerjee, Director General, Confederation of Indian Industry.

Iran (75^th overall) excels in tertiary education, ranking second in the world in number of graduates in science and engineering. Tajikistan (94th) is first in the world in microfinance loans, while Kazakhstan (78^th) ranks first globally in pupil‐teacher ratio and third in ease of protecting minority investors.

Third in the Northern Africa and Western Asia region is the UAE (35^th globally), benefiting from increased data availability and shows strengths in tertiary inbound mobility, innovation clusters and ICT-driven business model innovation. Sixteen of the 19 economies in the Northern Africa and Western Asia region are in the top 100 globally, including Turkey (43rd), Qatar (49th), KSA (55th), Kuwait (56th), Bahrain (66th), Oman (77th), Lebanon (81st), Azerbaijan (82nd), and Jordan (83rd).

The GII, in its 10th edition this year, is co-published by Cornell University, INSEAD, and the World Intellectual Property Organization (WIPO), a specialised agency of the United Nations. Published annually since 2007, the GII is now a leading benchmarking tool for business executives, policy makers and others seeking insight into the state of innovation around the world. Policymakers, business leaders and other stakeholders use the GII to evaluate progress on a continual basis.

The core of the GII report consists of a ranking of world economies’ innovation capabilities and results. Recognising the key role of innovation as a driver of economic growth and prosperity, and the need for a broad horizontal vision of innovation applicable to developed and emerging economies, the GII includes indicators that go beyond the traditional measures of innovation such as the level of research and development.

In April, INSEAD separately announced that Singapore had been ranked No. 1 in Asia Pacific and No. 2 globally according to the Global Talent Competitiveness Index (GTCI) 2017. 

Global Talent Competitiveness Index 2017 
Rankings: Top Ten

1 Switzerland

2 Singapore

3 UK

4 US

5 Sweden

6 Australia

7 Luxembourg

8 Denmark

9 Finland

10 Norway

Singapore is ranked second globally for the fourth consecutive year, retaining its top spot in Asia Pacific. Australia (6th), New Zealand (14th), Japan (22nd), Malaysia (28th) and South Korea (29th), ranked within the Top 30 globally.

Produced in partnership with The Adecco Group and the Human Capital Leadership Institute of Singapore (HCLI), the GTCI is an annual benchmarking report that measures the ability of countries to compete for talent. Focusing on Talent and Technology, the 2017 report explores the effects of technological change on talent competitiveness and the future of work, arguing that while jobs at all levels continue to be replaced by machines, technology is also creating new opportunities.

In Asia Pacific, the countries that ranked within the Top 30 globally included:

-          Singapore (2nd)

-          Australia (6th)

-          New Zealand (14th)

-          Japan (22nd)

-          Malaysia (28th)

-          South Korea (29th)

-          Philippines (52nd)

-          Kazakhstan (53rd)

-          China (54th)

-          Thailand (73rd)

-          Sri Lanka (82nd)

-          Kyrgyzstan (87th)

-          Mongolia (72nd)

-          Vietnam (86th)

-          Indonesia (90th)

-          India (92nd)

-          Bhutan (98th)

-          Iran (103rd)

-          Cambodia (108th)

-          Pakistan (111th)

-          Bangladesh (113rd)

The GTCI is an annual study measuring the ability of countries to compete for talent. Designed for governments, businesses and non-profit organisations, the GTCI ranks over 100 economies according to their ability to develop, attract and retain talent.

High-ranking countries share key traits, including educational systems that meet the needs of the economy; employment policies that favour flexibility, mobility and entrepreneurship; and high connectedness of stakeholders in business, education and government as well as high level of technological competence, INSEAD said.

Ilian Mihov, Dean of INSEAD, said: “This year’s GTCI report shows that countries in the Asia Pacific region demonstrate strong talent readiness for technology. It also highlights the important role of education. Educational systems have to revamp to help learners foster learning agility and adjust on the fly of changing conditions. INSEAD looks forward to fully playing its role as a leading global provider of talent and leadership.”

Singapore has shown outstanding performance in the Enable, Attract and Global Knowledge pillars. Countries can learn from Singapore’s well-developed regulatory and market landscapes for global talent to thrive and its ability to anticipate the movements of the economy.

Su-Yen Wong, CEO of Human Capital Leadership Institute, commented: “The recent report published by Singapore’s Committee on the Future Economy suggested that building strong digital capabilities is one of the key strategies that will propel Singapore’s growth for the next two decades. Digital technologies will help small and exposed economies like Singapore punch above their weight by creating means for their businesses and talent to reach out to the global market. Countries must continue to upskill their workforce so that they can adapt to the digitisation wave and the sweeping structural changes that are poised to shakeup traditional work arrangements.”

Asia’s giants China (54th) and India (92nd) are still a fair distance away from the top. Bruno Lanvin, Executive Director of Global Indices at INSEAD and co-editor of the report said: “Overall, a big challenge for China and India lies in their ability to attract talent, and they both face the issue of local higher-skilled workers leaving to live and work abroad. To improve their attractiveness, the countries can further boost their regulatory and market landscapes.

“However, delving deeper and looking at the city-level, the two countries have metropolises exemplary in terms of their talent attractiveness. Shanghai and Mumbai (apart from Singapore) are the only Asian cities identified and ranked in the inaugural edition of the Global Cities Talent Competitiveness Index (GCTCI), but future editions will undoubtedly include more, confirming the growing attractiveness of Asian cities.”

Australia (6th) performed exceptionally being ranked in the Top 10 this year, as it is one of the top countries in the Attract and Global Knowledge Skills pillars. However, Vocational and Technical Skills show room for improvement. This may indicate that the country’s structural shift towards knowledge jobs and services is perhaps leaving gaps in the technical/vocational area.

Christophe Duchatellier, Regional Head of Asia Pacific, The Adecco Group, commented, “Although Singapore, Australia and New Zealand all feature in the Top 20 of this edition of the Global Talent Competitiveness Index, these latest findings highlight the increasing challenges that many countries in the Asia Pacific region have in attracting and retaining talent. In 2017 we are already observing organisations across the region placing an increased emphasis on world-class talent attraction strategies and tactics that will support them in remaining competitive. We would expect to see more organisations offering internship and apprenticeship programmes to foster skills development.”

Malaysia (28th) is the top-ranked country in the group of upper-middle-income countries. The country ranks above higher-income countries such as South Korea (29th).

Paul Evans, The Shell Chair Professor of Human Resources and Organisational Development, Emeritus, at INSEAD, and Academic Director and co-editor of the Global Talent Competitiveness Index said: “Malaysia performs particularly well in the pillars of the Enabling context and Vocational and Technical Skills. It also does well on External Openness as it has been able to attract talent from overseas. In addition, in terms of talent readiness for technology, Malaysia ranks higher than South Korea even though the IT infrastructure of the latter is much superior. The country can boost its rankings if it further improves in Internal Openness in terms of tolerance of minorities.”

Japan (22nd) has a solid overall performance, although it dipped slightly from last year. One of its main challenges is the Attract pillar where it is far behind the top three countries of this region. Middle-income countries such as Malaysia attract more foreign talent.

Although South Korea (29th) makes it into the top 30 this year, it is the lowest-ranking high-income country in the region. Despite being the top country in dimensions such as Tertiary enrollment and the Market Landscape—with world-class R&D in­vestments—the country has major room for improvement in the Attract pillar.

The Philippines (52nd) is the top lower-middle-income country, ranking above several upper-middle-income countries such as China (54th), and even above some high-income countries such as Kuwait (57th) and Oman (59th). Its greatest strength is its good pool of both Vocational and Technical Skills and Global Knowl­edge Skills.

Interested?

Download the Global Innovation Index 2017 report

Read the Global Talent Competitiveness Index report

Download the GTCI 2017 Infographic at this link

Watch the GTCI 2017 Video graphic at this link

The Asia infographic is also attached for media usage.

*To support the global innovation debate, to guide polices and to highlight good practices, metrics are required to assess innovation and related policy performance. The GII creates an environment in which innovation factors are under continual evaluation, including the following features:

• 127 country/economy profiles, including data, ranks, and strengths and weaknesses

• 81 data tables for indicators from over 30 international public and private sources, of which 57 are hard data, 19 composite indicators, and five survey questions

• A transparent and replicable computation methodology including 90% confidence intervals for each index ranking (GII, output and input sub-indices) and an analysis of factors affecting year-on-year changes in rankings

The GII 2017 is calculated as the average of two sub-indices. The Innovation Input Sub-Index gauges elements of the national economy which embody innovative activities grouped in five pillars:

• Institutions, 
• Human capital and research, 
• Infrastructure, 
• Market sophistication, and 
• Business sophistication. 

The Innovation Output Sub-Index captures actual evidence of innovation results, divided in two pillars: knowledge and technology outputs andcreative outputs.

The index is submitted to an independent statistical audit by the Joint Research Centre of the European Commission.

posted from Bloggeroid