singapore after crisis

1. Merlion’s Economy: In retrospective
back to past
• The lion city or rather Singapore had its origins
as a fishing village
• Became another British trading colony in the
18th century wherein it became a strategic
seaport in the south-east Asia
• It is probably the only country which got
independence against its own will; in 1965
Singapore was carved out as separate nation
from the Malayan federation

2. Glimpse of the economy
• An amalgamation of 63 islands with land area
smaller than that of New York, it has only one
natural resource in abundance-its people
• It is one of the best example of free-market
open economy owing to its capitalist structure
• With an export-oriented policy, lucrative
business environment and constantly flowing
foreign investments, it grew at 8% right from
1960 to 1999

3. • Speaking more on its population, they hold the
reputation of maintaining the best quality of
life in Asia
• With its peninsular location in the south china
sea, Singapore has utililised trade to its highest
advantage thereby becoming the 2nd most
open economy in the world.
• It showed its resilience during the 1997 crisis
when its neighbors took the beating

4. Pillars of economic growth
• Singapore has grown from strength to strength with the
support of its 3 driving forces-
 Exports: contributing 20-30% of GDP, the main components
are pharmaceuticals, ship-building and semi-conductors.
 Financial services: global investment firms and multi-
national banking institutions are attracted here due to its
business supportive environment, connectivity in Asia-
pacific. Today, Singapore continues to be the global foreign
exchange trading hub.
 Tourism: combining world-class shopping experience with its
natural beauty, Singapore remains a major tourist hub in
Asia. Visitor arrivals rose by 2.4 million to 10.2 million in
2007. as of 1995, it employed 13.4% of the labour force;
medical tourism is estimated to generate USD 3 billion
revenue.

5. • Almost all the economic indicators that have been
used to review a country’s global performance
have placed Singapore in the top strata-
 World Bank has identified it as the most easiest
place to do business as per 2010 survey report,
 Ranked #1 in Asia and #4 in the world with the
lowest levels of corruption,
 Is the world leader in foreign trade and
investment,
 Is among the top 5 in Asia for the best skilled
labour
 Is also the best place to live, work and play in Asia