This year's World Talent Ranking has revealed that Singapore and Malaysia are slipping in terms of their ability to retain and attract top talent
The World Talent Ranking 2016 - conducted by Swiss business school International Institute for Management Development (IMD) - presents a ranking of countries on their ability to develop, attract and retain talent.
The third annual World Talent report shows the overall ranking of 61 economies.
The survey took into account the three key factors of investment and development in homegrown talent, appeal, and readiness
Aside from that, the quality of education system, how well the country retains homegrown talent and attracts talent from oversea, and a country’s ability to fulfil market demands with its available talent pool were also considered in the study.
Malaysia has slipped from the 15th to the 19th spot while Singapore has tumbled out of the top ten ranking
Singapore was previously ranked at the 10th spot before dropping to the 15th spot.
Hong Kong is the highest-ranked Asian country in the ranking, placed 9th and the only Asian country within the top ten. It was previously ranked at number 12.
Other top Asian economies such as Taiwan, Japan, South Korea, China and India have also slipped in the 2016 ranking.
European countries like Switzerland and Denmark still hold the 1st and 2nd spot as they did last year. with Belgium rated 3rd, Sweden 4th and the Netherlands 5th