Singapore has retained the top spot for the second year running in a global index that ranks 151 countries by measuring the way in which "elites" contribute to the wealth and development of their societies. The Elite Quality Index 2021, released on Monday (May 24), examined the countries across four broad areas – economic power, economic value, political power and political value. The index, first compiled last year, is a collaboration between SMU, the University of St Gallen in Switzerland, international academic partners and the St Gallen-based non-profit organisation Foundation for Value Creation.