Singapore has officially been named the best place in the world to be during the Covid-19 pandemic, after overtaking New Zealand in Bloomberg's Covid Resilience Ranking.

Bloomberg's Covid Resilience Ranking was launched in November last year and ranks, out of 53 countries, the best and worst places to be during the Covid-19 pandemic. From the time that it was launched, New Zealand has managed to hold on to the top position. 

(Related: Covid-19 Vaccine: You Can Now Choose Between Pfizer-BioNTech and Moderna in Singapore)

This month, however, Singapore overtook New Zealand to become the best place to be during the pandemic because of how fast we have rolled out vaccines and how low our community transmissions have been. 

New Zealand is now in second place with just a 0.1 per cent difference between them and Singapore. 

Singapore currently has already vaccinated almost a fifth of our population and is moving forward to vaccinate the rest of the country as quickly as it can. This puts it well ahead of countries such as New Zealand, Australia and Taiwan. In fact, according to the Nzherald, only "1.9 per cent of New Zealand's population has been vaccinated."

That said, the list does not rely solely on Covid-19 case rates or vaccination rates. Rather, it uses a combination of Covid case rates, vaccination rates, community mobility, GDP and more to assess which countries are doing better at managing the virus with a reduced disruption on daily life or the economy.

On the list, Brazil, Poland and Argentina rank as the worst countries. India, which is currently in the middle of a devastating second wave of the virus, ranks number 30. 

This news comes at a perfect time for Singapore who announced just yesterday that they would be launching an air travel bubble with Hong Kong on May 26. 

Under this travel bubble, travellers from both countries will be able to travel freely in and out of both countries without having to serve a quarantine. 

(Related: Singapore-Hong Kong Travel Bubble to Launch on May 26)