Our group has conducted research on future demographic trends and predictions focusing on Singapore in year 2020. We have made used of the PESTEL analysis to carry out this research. PESTEL analysis which stands for Political, Economic, Sociological, Technological, Environmental and Legal is one of the important frameworks that can be used for macro-environmental scanning to understand situation as a whole. (Marketing Minefield 2012)
In year 2020, Singapore’s political issue will be more opposition will surface but PAP will still run the government. Freedom of speech will be improvised by the government and all Singapore citizens will be able to have greater involvements in political issues as presently, all Singapore citizens are able to do voting. In Economic, we’ve predicted that GST and taxes will definitely increase, inflation will be unstable, housing prices steeper and the gap between the riches and the poor will be larger. However, Singapore dollar value will be stronger and its economy will be one of the best. According to Prime Minister Goh Chok Tong, discipline, teamwork and willingness to try are the important factors for economy growth and Singapore is working towards them. (Goh 2003) Based on Sociological, healthcare benefits will definitely improvised as Singapore is moving towards an ageing population with low birth rate among all Singaporeans. According to a news article, Singapore will suffer the most among Asian economies from an ageing population with numerous growths. The news article had also supported our predictions as it mentioned that Singapore, factors such as relatively low birth rate and high quality healthcare had helped people to live longer, contributing to the ageing population. (Lee 2008)
Technological will be one of the most advanced pointer in Singapore year 2020. There will be decreased in blur collar jobs, obsolate of laptops and desktops, trends in e-shopping, increasing number of virtual offices and implementation...
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