The results of the Global Creative Index from Martin Prosperity is pretty interesting this year.
I'm not sure how Iceland and Singapore made it to the top 10, not because I don't think these two countries are amazing in their own rights, but simply the fact that I don't know anyone who can tell me elements of Icelandic or Singaporean design. Swedish, Danish, and Finnish designs are pretty famous. US, Australia, and Canada have global brands.
According to the report, Singapore reports the 3rd largest share of the creative class (47%) — which spans science and technology; arts and culture; and business, management, and the professions. Singapore's technology is rated a "7" and its talent pool a "5''. Those measurements seem accurate, but creativity, generally defined as the use of imagination or original ideas to create something new and somehow valuable, is somewhat lacking I think. The Singapore education system and Singaporeans are not exactly known for "use of imagination" and so it is strange that the country is ranked so high on the Global Creative Index.
In terms of ranking though, Singapore is hitting it out of the park this year. Top 10 in the Global Creativity Index. Two local universities are ranked higher than Yale based on the QS world university ranking. If anything, it demonstrates the country, like the by-product of it's education system, performs exceptionally well on standardized tests.