Country Environment Analysis - Singapore

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Country Environment Analysis - Singapore
Date: 12/05/2012
Course: BUAD 6500
Prepared For: Dr. Stanford A. Westjohn
Prepared By: Emtithal Alhumood, John Baker, Nora Dillon and Yuhong Fu

Table of Contents: Page #
Part 1 Macro Environment Analysis
Abstract --------------------------------------------------------------------------------------------3 Social Perspective --------------------------------------------------------------------------------3 Economic Perspective ----------------------------------------------------------------------------5 Political Perspective ------------------------------------------------------------------------------7 Challenges to Business in Singapore -----------------------------------------------------------9 Summation of Macro Environment Analysis ------------------------------------------------10 Part 2 Country Environment Analysis --------------------------------------------12 Country Environment Analysis Abstract -----------------------------------------------------12 Scope of the Tourism Industry -----------------------------------------------------------------12

Areas of Opportunity and Risk -----------------------------------------------------------------16

Challenges for US Business in Singapore’s Tourism Industry ----------------------------19 Country Environment Analysis Summation --------------------------------------------------21

Part 1 Macro Environment Analysis
Abstract:
The country of Singapore enjoys a highly developed and successful free market economy. The first section of this report details the economic, social and political aspects of Singapore from a business perspective. Furthermore, this report will identify and analyze challenges which any business must consider upon entry to this growing marketplace. Social Perspective:

Geographic Location:
Situated in the northern part of the equator, Singapore lies between Indonesia and Malaysia. The island has a huge coastline of 193km. Half of the terrain contains metropolitan areas while reservoirs, open military areas, plantations, and parklands cover 40%. Covering an area of 699 sq. km., the country is believed to be among the world’s most beautiful nations. Population:

As of June 2011, Singapore's population stood at 5.1 million, making it among the three most densely populated nations in the world (MediaCorp Pte Ltd, 2011). Singapore has a multicultural population with Mandarin, English, Tamil and Malay listed as the country’s four official languages. English is commonly used throughout Malaysia and is often referred to as the national language. Improved healthcare in the country has resulted in reduced infant mortality rate. However, the overall population growth rate is relatively low at 2% from 2009 to 2010. Immigration is a significant driver of population fluctuation, as local population growth has actually declined in the past decade. Literacy:

According to the United Nations Development Programme Report (2011), Singapore has a literacy rate of 94.7%, which ranks 75th in global literacy by country. Education is regulated and supervised by the Ministry of Education which oversees both private and public schools. All public schools instruct students using the English language and their native tongue (referred to as “Mother Tongue Language”). According to Wikipedia, education spending typically accounts for 20% of the national annual budget in Singapore. Cultural Values:

Singaporeans have a hierarchical history, and for the local population power distance is generally high. Respect for authority and social formalities are highly valued in Singapore’s local culture. Respect for parents, elders, teachers, and employers is held in high regard. Due to the emphasis on family values, Singapore has developed a collectivist culture which focuses on the betterment of society; as opposed to the individual. Local residents generally express a modest humility when communicating with...
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