Each year, the vibrant Singaporean economy attracts hundreds of foreign professionals, but why is it so alluring? Singapore, a significant financial centre in the Asia-Pacific region, has a long history of building a reputation as one of the most developed economies in the world. Singapore survived both the 1997 and 2008 financial crises, despite having a limited domestic market and little natural resources. With no foreign debt, strong government revenue, and a constantly positive surplus, Singapore's economy is currently among the most stable in the world.
With a smaller land area than New York and a location at the southernmost point of the Malaysian peninsula, Singapore lacks considerable natural resources.
This did not prevent Singapore from becoming into a global leader in sustainable water projects and solutions, such as NEWater and the Deep Tunnel Sewerage System, as well as a regional oil and gas hub. The adage that Singapore's people are the country's fundamental natural resource is accurater than ever in a developing economy. Local and non-local businesses can access a pool of educated workers as the economy expands, which will eventually lead to a growing consumer market.
The Singaporean economy is expanding steadily; Fortune classified it as the third-wealthiest country in the world, and it has benefited from high levels of foreign direct investment (S$62 billion in 2017). If you're looking for a place to set-up or expand your business, Singapore is the place to be.
With such a dynamic growth track, it is only fair that the region gets its own dedicated issue focusing on some key industry areas.