SINGAPORE - Singaporeans who think that their passports can take them anywhere in the world may be on to something.

According to the an annual global ranking of countries based on the freedom of travel enjoyed by their citizens, Singapore moved up a spot to be ranked fifth - tying with Switzerland and New Zealand.

The Henley & Partners Visa Restrictions Index 2014 showed that people holding a Singapore passport can travel to 170 countries without a visa, This is up from 167 of 219 countries last year.

Singapore moves ahead of Greece and Australia, both of whom it previously shared sixth position with in the last Index.

In a statement released on Tuesday, Henley & Partners noted that a Singaporean passport allows "easier access to key destinations" such as the US, Canada, Australia, India and China.

For instance, Singapore is one of a handful of countries together with Japan and Brunei to be allowed visa-free access (of not more than 15 days) to China, while it is only the sixth nation to be granted the use of Australia's SmartGate automated border processing system.

At the top of the Index, jointly, were Finland, Sweden, Germany, the United States and Britain. Citizens of these countries are able to travel visa-free to 174 destinations.

For the Ministry of Foreign Affairs' guide to visa requirements, click here.