As Channel News Asia reports, the Republic is Asia Pacific's second-most popular destination, with 11.81 million international visitors in 2015, according to a MasterCard index.
Bangkok clinched the top spot with 21.9 million visitors and Tokyo narrowly came in third behind Singapore with 11.76 million visitors.
The annual Asia Pacific Destinations Index ranks 167 destinations from 22 countries in the region - including island resorts as well as towns and cities - by their total number of international overnight arrivals, cross-border spending and the total number of nights spent at each destination, MasterCard said in a news release on Wednesday (Jan 27).
The study showed that the highest number of tourists coming to Singapore were from Indonesia (16.1 per cent), China (13.9 per cent) and India (7.3 per cent).
As TODAY reports, Singapore retained its status for a 10th consecutive year as the easiest country in which to do business, while emerging markets such as China and India moved up the rankings, according to the World Bank.
The World Bank’s annual Doing Business report ranks 189 countries based on 11 indicators such as the ease of starting a business, dealing with construction permits, getting electricity and obtaining credit.
The 30 best performers stand out because they have rules that allow “efficient and transparent functioning of businesses and markets”, not because they have little regulation, the Washington-based development lender said in the latest report.
Contributing to Singapore’s high scores was its “high-quality judicial processes”.
“Resolving a commercial dispute through the Singapore District Court takes just 150 days, the shortest time recorded worldwide, and costs 25.8 per cent of the value of the claim.
Efficient dispute resolution is paired with good institutions (such as specialised courts), effective case management and sophisticated court automation tools,” the report said.
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