Hong Kong, Japan and Singapore Asia’s most resilient countriesMay 17 2018 by InsuranceAsia News Staff
Hong Kong, Japan and Singapore have been ranked as Asia’s most resilient countries in FM Global’s 2018 Resilience Index.
Hong Kong (ranked 19) is Asia’s most resilient business environment overall, ahead of Japan (ranked 24) and Singapore (ranked 28), with the quality of supply chain, due to their high rates of economic productivity, excellent infrastructure quality and supply chain integrity.
Rankings for Malaysia (ranked 40), Thailand (ranked 97) and South Korea (ranked 44) remained relatively unchanged from 2017, where natural hazard exposure, political risk and inherent cyber risk influence their overall global positions.
Notably, inherent cyber risk represents some of the most significant movements in the index, with Taiwan soaring 57 places, from 107th to 50th, the biggest rise this year due in large part to an increase in its civil liberties. Hong Kong improved 34 spots, from 103rd to 69th place due to improved civil liberties and a small increase in internet penetration, while the Philippines dropped from 32nd to 66th reflecting an increase in potential risk.
The changing political landscape in various countries around the region has also affected the index, including a worsening of Hong Kong and Malaysia’s political risk profiles, while Singapore is the highest ranked in the world for political stability.
The index — an annual ranking of 130 countries and territories by the resilience of their business environments — is an online, interactive resource to help global executives plan where to do business.
It reflects data related to economics, natural hazards and supply chains, and addresses deep concerns about business risks such as cyber attacks, political upheaval, fire and windstorms. Resilience, the flipside of risk, means resisting business disruption and rebounding quickly if it occurs.
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