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The Singapore Economy Drops Expansion Prediction to 3.3% this Year

The figure predicted for Singapore’s economy has dropped from 3.8% to 3.3% in the recent survey, after figures showed that the GDP growth expected for the second quarter had not achieved its target. The news has left many economists in the private sector with confidence issues relating to the outlook for Singapore’s economy this year. According to a quarterly survey, the growth expectations have had to be altered significantly for all aspects of the economy.

Singapore’s Impotent Immigration Policy

The large influx of foreign workers into Singapore has begun to cause tension between immigrants and locals. The obvious solution for the Singaporean government, would be to drastically decrease the number of foreign workers. But here there is a problem: its development model relies on foreign workers.

It appears counter-intuitive to suggest that a cosmopolitan hub like Singapore might have a problem with xenophobia.

Singapore to Crack Down on Cross-Border Tax Cheats

Keen to avoid the kind of onslaught on tax cheats being waged in EU and U.S., Singapore, the world’s fourth largest offshore financial centre, said on Tuesday it will sign up to the Organisation for Economic Cooperation and Development’s multilateral treaty on sharing tax details, a move that would make it harder for cross-border tax cheats to operate.

Singapore Home To World’s Top-Earning Expats: Study

Foreigners working in Singapore are earning more than those living in any other part of the world, claimed a new study by HSBC Bank this week, with more than half (54 percent) of Singapore-based expatriates having an annual income of above $200,000.

According to the Expat Explorer 2012 Survey, almost three-quarters (74 percent) of expats who moved to Singapore witnessed an improvement in the financial status of their household upon relocation, while four out of five Singapore-based expats saw an increase in their disposable income.

Asia To Hold World’s Top Financial Centre By 2022: Survey

Either Hong Kong, Shanghai or Singapore will replace London as the world’s most dominant financial centres by 2022, claimed a survey of 450 U.K.-based bankers on Sunday, with nearly 31 percent of the respondents choosing Singapore as their most favoured location to work.

Assuaging Singapore’s Obsession With Comparative Ranking

Singapore is one of the most competitive economies in the world. Despite its small physical and demographic size, the country takes immense pride in its ability to stand among the world’s economic giants as one of the best countries in the world for businesses and investments. However, according to Bill Rylance – founder and CEO of WATATAWA – Singapore’s competitive nature has led to a nation-wide obsession with global rankings.

Holy Cow! Singapore Economy Grows 22.5 percent in Q1

Following a modest 3.9% quarter on quarter (q-o-q) seasonally-adjusted annual rate (saar) rise in Q4 2010, Singapore’s GDP growth accelerated in Q1 2011, recording a 22.5% sequential expansion. While services had recovered more quickly in Q4 last year, the manufacturing sector caught up in Q1 2011, boosted by an improvement in end demand.

Related: Singapore Economy

Singapore – Fast Facts

Singapore comes under the Other High Income Group countries as to the classification made by the World Bank on the basis of income.

Singapore has a well-developed economic structure with a free market system. Both business environment and infrastructure are the key behind economic success for the country. The services sector has largest contribution to the country’s GDP followed by the industries.

Category: Singapore