Singapore and Malaysia have both come first in their income categories in Newsweek’s list of “World’s Best Countries”. In the list, the world’s nations were ranked in five categories (Education, Health, Quality of Life, Economic Dynamism and Political Environment) and judged on separate scales depending on population size and income level.

Singapore and Malaysia, ranked 20th and 37th in the world overall total, both came top of the table when it came to the Economic Dynamism category: Singapore first in the world and Malaysia 14th, coming first in the “Middle Income” section. Singapore drew special praise for its open economy, low taxes and low levels of regulation. The category awarded points for each country’s “economic dynamism” based on:

- Growth in GDP per capita (historic and current momentum);

- Diversification (points awarded for economies not heavily dependent on agriculture or natural resources);

- Innovation (R&D efforts, university collaboration, level of scientific research);

- Business Vitality (Ease of doing business, business-starting & bankruptcy procedures);

- Stock Market Capitalization (as a percentage of GDP, equity market capitalization of domestic companies on local & foreign exchanges).

source (with full details, features & interactive guides): Newsweek.com