Asia’s position as the current hot spot for economic globalisation was reinforced recently when Singapore reached third place on the Globalisation Index, placing behind Hong Kong and Ireland.

The Index, which is produced by professional services firm Ernst & Young in cooperation with the Economist Intelligence Unit (EIU), measures the world’s 60 largest economies by their degree of global engagement in relation to their GDP. The Index takes into account factors such as ‘openness to trade, capital movements, exchange of technology and ideas, labour movements and cultural integration.’

The positioning of two Asian economies in the top three globalised economies signifies an important shift within the region in favour of international business. This news is especially interesting for Lingo24, as we are currently in the process of opening our first full time Asian hub in Cebu City, the Philippines.

Interestingly, in the 2010 Globalisation Index, the Scandinavian countries and Switzerland - which have long been important markets for Lingo24 - rounded out the report’s top ten most globalised economies alongside Belgium and Hungary.

tags: Export, globalisation, Globalization Index, international business, Localisation