International Marketing 560 Economic Environment of Singapore Laura L. Erwin-Hall October 12, 2007 "Home to some 4.48 million people (based on the last census in 2005 reported in 2006), Singapore is the fourth most densely populated country in the world and has one of the highest per capita gross domestic products in the world."1 The employment rate is 2.40 million (June 2006), with unemployment at an all-time low at only 2.5 percent. The labor force consists of mainly manufacturing, transportation and communication, construction, and financial, business, and other services. Singapore is orderly, prosperous, and modern. According to Richard H.K. Vietor, a Harvard Business School professor, Singapore, along with …show more content…
(1) The government 's role is to provide private enterprise a stable environment in which to thrive. The main focus of the Singapore 's government spending is on essential public goods and services to Singaporeans. Key areas of expenditures are on education, public housing, health care, and national security. (2) Tax and expenditure policies should focus on incentives for saving, investments, and enterprise. Singapore 's main source of governmental savings comes from taxes which are then used to increase economic competitiveness and attract foreign investments. Singapore is ranked number one for economic freedom. This combination of fair tax policies and the careful expenditure program, along with high economic growth has allowed Singapore to gather consistent budget surpluses. Their fiscal policy has also contributed to Singapore 's high savings rate and allows it to achieve one of the highest investment rates in the world. In addition, Singapore does not have any foreign debt. The government promotes high levels of savings and investment through a mandatory
Ministry of Manpower (MOM) recently shared that Singapore's employment rate has decreased rapidly last year (govsingapore, 2016). Last year, there is only 100 job increment and that is the lowest in the last 17 years. (govsingapore, 2016). With difficulties in making up the quantity of jobs available in Singapore, the government decided to introduce SkillsFuture to improve the quality of jobs (govsingapore, 2016). It gives Singaporeans a chance to explore their dreams or pick up additional skills set from young to old (Yang, 2016). This campaign changes the future economy and individuals in Singapore.
(Mcarthur, 2011) The Fall Of Singapore
In this paper I will present my research results regarding Singapore, as well as draw the picture of its marketing environment. I will include the information about the location, climate, population, religion and culture, official spoken languages, state of economy and level of technologies, political and legal systems, level of competition and potential for economic growth. In the conclusion I will highlight advantages and disadvantages of the Singapore marketing environment.
level of economic development : Singapore have highly attractive to investment climate because one of the factor is so important that is Singapore has stable political environment
Singapore, authoritatively known as the Republic of Singapore, is a sovereign city-state and island nation in Southeast Asia. It lies on the north of the equator, at the southern tip of the Malay Peninsula, with Indonesia's Riau Islands toward the south and Malaysia toward the north. Singapore's domain comprises of one fundamental island alongside 62 different islands. Since independence, broad land recovery has expanded its aggregate size by 23% (i.e. 130 square kilometres).
US and Singapore approaches to the unemployment problem are significantly different in culture, institutional, civic and global forces. In culture, Singapore has a superior geographical position. According to the maps of the world, “Singapore is located on the southern tip of the Malay Peninsula in Southeast Asia, between the Indian Ocean and the South China Sea.” because of the convent location. Singapore has many ports. Singapore is the use of this special
It is also easy for many other companies to set up headquarter in Singapore as their starting point in Asia to make it possible to reach to its market point. In addition, Singapore is unique in different lifestyles and culture. It is also known for its capability of attracting sizable foreign investment, pro-business environment and entrepreneurs. Singapore focuses more on a knowledge based economy which can be seen in its education sysem. Furthermore, Singapore is located in the heart of Asia and it plays an important role in international
My research will be based on Political, Economic, and Social Organization of Singapore—an industrialist city-state. Even though Singapore 's history dates from the 11th century, the island was little known to the West until the 19th century. Singapore is one of the World 's largest ports, because the city of Singapore has become a major port, with trade exceeding that of Malaya 's, Malacca and Penang combined. The opening of the Suez Canal in 1869 and the advent of steamships launched an era of prosperity for Singapore as transit trade expanded throughout Southeast Asia (Bureau of East Asian and Pacific Affairs, 2010). Singapore is a very
|To what extent does the Singapore Government’s policies on housing and immigration, help to increase the demand of the private |
Singapore has a highly developed market which has historically revolved around extensive exports trade, in other words an export driven economy hugely dependant on export of goods to other countries.
With foreign manufacturing industry entering Singapore market the manufacturing sector and its share in GDP grew from 16.6% in 1965 to nearly 30 % in 1980 and in 1993 manufacturing contributed to about 28 % of the total GDP and accounted for nearly 28% of employment. Singapore’s GDP raise to 13 times between 1960 and 1999. The nation has shown greatly decrease of figure of poverty. (United Nations 2000)
However, the development of Singapore’s society cannot be predicated on pure economics alone. Even though globalization has enabled Singapore to fare well in economic development, however, termed the perils of success, globalization has brought about undesirable
Singapore is an island that lies just off the southern tip of the Malay Peninsula between the South China Sea and the Indian Ocean. Its strategic location on major sea lanes has provided the country with an economic importance in Southeast Asia. Singapore is often considered as a base for global enterprises looking to expand into Asia and Asian enterprises looking for global connectivity. Located at the heart of Asia, Singapore is sitting at the centre of business opportunities. Having the four key attributes - Trust, Knowledge, Connected and Life, Singapore is being positioned as an ideal city to Work, Live and Play. Singapore was ranked first in Mercer’s Quality of Living Survey 2009.
The Republic of Singapore celebrated its 42 years of independence in year 2007. Situated at the southern tip of Malaysia, Singapore currently holds a population of 4.68 million as of June 2007. At 704.0km2, it is ranked 4th in the world for its population density. During the past four decades, the economy as measured by real Gross Domestic Product (GDP), multiplied by over 20 times (Ghesquiere, 2007, p.11). As a small and extremely open economy, Singapore long term survival is very much dependent on the ability to maintain its viable position and remain afloat in the sea of global competition (Mun Heng et al, 1998, p.14).
How might the Singapore society differ were it not for these technologies – would the society be more or less heavily regulated? Lee recommends analysing politics and society by addressing how power struggles and relations were played out in the pre-Internet era, namely the maintenance of political control via public support (2005: 74). Foucault defines ‘governmentality’ as the point of contact where the technologies of power interact with the governed. This spurs Lee to postulate that, in order to retain power in the Internet era, 'governments need to be actively involved in shaping the design as well as the societal, cultural and regulatory environment in which the Internet and other new media technologies operate' (2005: 75).