International Marketing 560
Economic Environment of Singapore
Laura L. Erwin-Hall
October 12, 2007
"Home to some 4.48 million people (based on the last census in 2005 reported in 2006), Singapore is the fourth most densely populated country in the world and has one of the highest per capita gross domestic products in the world."1 The employment rate is 2.40 million (June 2006), with unemployment at an all-time low at only 2.5 percent. The labor force consists of mainly manufacturing, transportation and communication, construction, and financial, business, and other services. Singapore is orderly, prosperous, and modern. According to Richard H.K. Vietor, a Harvard Business School professor, Singapore, along with China and India are best positioned to take advantage of a global economy. Singapore is labeled the most developed state in Southeast Asia. "Hard work, incredibly efficient institutions, and great leadership have made Singapore rich."2
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Approximate Word Count: 3344
Approximate Pages: 13 (260 words per double-spaced page) |