Singapore Reward Climate

Country Profile

Singapore, a former British trading colony, is one of the world's most prosperous countries. Its port is one of the busiest in the world, and its per capita GDP is larger than those of the leading nations of Western Europe. The country is an island situated in southeastern Asia between Malaysia and Indonesia, measuring about 42 km by 23 km. It has a tropical climate with a relatively uniform temperature.

Singapore's population is 4.2 million and growing at a rate of 3.54 percent. Chinese people, at 76.9 percent of the population, are the majority, followed by Malays, Indians, and other ethnic groups. The official languages are Malay, Tamil, and English, and English is the language of administration.

Singapore is a republic with a parliamentary system of government and an elected president. The country's business environment is remarkably open and free of corruption, boasting stable prices and the fifth highest per capita GDP in the world. Exports and services in particular drive the economy, and the government invests heavily in education and technology.

Singapore is positioning itself as the region's financial and high-tech hub in an increasingly global future. The success of Singapore's economy is a product of a number of factors: political and social stability, thrift and industry, strategic location, a pro-business government, and investment in infrastructure. Many multinational corporations have established their regional headquarters in Singapore and use it as a home base to tap into nearby emerging markets such as Indonesia, Vietnam, and Thailand.

Employment Trends

In 2000, Singapore's workforce grew by 108,487, nearly three times its growth the year before. Over the past 20 years, employment growth in Singapore has been broad, with major sectors such as manufacturing, commerce, and services all recording significant increases in number of employees. In the manufacturing industry, electronics, chemicals, and engineering... [continues]

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