Executive cSummary c

I have analyzed the political, economic, social, technological, legal, and environmental
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cd factors of Singapore and have come up with a comprehensive research report, “PESTLE
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cd Analysis of Singapore.” This report provides an analysis of Singapore’s economy from

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cd historical, current, and future perspectives. The report also includes the suitable business
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cd industry to be launched/invested in Singapore.

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This unique report will provide reader with valuable information, insights, and tools
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cd needed to identify new growth opportunities and operate their business successfully in
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cd this market. This report will save hundreds of hours of reader own personal research
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cd time and will significantly benefit reader in expanding their business in this market. In
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cd today’s complex economy, you need every advantage that you can find.
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To make business, investment, and strategic decisions, you need timely, useful
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cd information. This report fulfills this core need and is an indispensable reference guide for
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cd investors, entrepreneur, and many more that operate in this market.

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Introduction c

In a global economy dominated by huge industrial powers, the city-state of Singapore

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cd has created its competitive niche as a destination for regional headquarters, branch
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cd offices cd and cd holding cd companies cd for cd doing cd business cd all cd across cd Asia.

Singapore offers foreign investors a highly skilled workforce, English-speaking business

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cd environment, cd business-friendly cd legal and

cd cd tax cd systems, cd immense logistics
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cd transportation capacities, and over sixty double taxation avoidance agreements, among
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cd other advantages. Furthermore, the city-state consistently takes measures to align its
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cd policies with the international standards emanating from the World Trade Organization,
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cd the Organization for Economic Co-operation and Development, and even issue-centric
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cd organizations cd like cd the cd International cd Accounting cd Standards cd Board.

Singapore has consistently been ranked first on the World Bank’s Ease of Doing
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cd Business Index, with particular strengths in “protecting investors” and “trading across
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cd borders.” In fact, the city-state runs in such an efficient, business-friendly manner that it
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cd has been said to run like a corporation itself; “Singapore Inc.”

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Singapore’s excellent strategic location and highly open economy make it attractive for
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cd companies looking to conduct business here. Furthermore, Singapore has a stable

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cd political environment, low taxes and a highly skilled workforce making it one of the most
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cd favorable business locations in the world.

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Singapore’s economy is heavily dependent on exports, with a particular focus on

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cd electronics, technology and pharmaceuticals. cd cd cd cd cd Although these sectors remain a cd cd cd cd

cd cornerstone of the economy, the recent growth of the financial services sector has been
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cd more notable. Singapore has been a part of the World Trade Organisation (WTO) since
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cd its inception in 1995, and has maintained low barriers to trade as part of an outward
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cd looking open economy. cd cd

In Singapore, just as is the case anywhere else in the world, certain industries are more
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cd suitable to be invested than others. Those who invest in such business industries will be
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cd sure to see many financial benefits coming their way. The following are some of the
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cd most suitable industries to be invested in Singapore today:

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Financial Technology (Fintech) cd cd

Singapore has the status of being one of the world’s financial hubs. This fact holds true
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cd with regard to financial technology (fintech). In recent years, the size of the fintech
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cd industry in Singapore has grown tremendously. Due to the implementation of many

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cd incentives from the government as well as individual financial institutions, cashless

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cd payments have become extremely common today. The many e-wallets available in
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cd Singapore facilitate such payments. Therefore, the fintech industry of Singapore has
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cd huge potential for profitability.

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Freelance Economy cd

Many people in Singapore have chosen to join the rapidly expanding freelance
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cd economy. The increase in the influence of social media has done much to facilitate
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cd interaction between freelance workers and their clients. This fact applies regardless of
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cd the line of work in which the freelancer inhabits. Freelancers who have a significant
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cd network of clients can also leverage this large client base to their advantage, resulting in
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cd even more profits and revenue.

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According to the latest set of statistics, there are approximately 200,000 freelancers
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cd who work in Singapore today. Freelancers comprise approximately 9% of all residents

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cd who are employed in Singapore. As Singapore’s freelance economy continues to

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cd strengthen, this figure is only expected to increase significantly.

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It should be noted, however, that on occasion freelancers are sometimes not paid on
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cd time. For this reason, all who intend to become freelancers in Singapore must have high
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cd levels of self-discipline and be able to manage time and money well in order to ensure
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cd that they make significant profits.

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Health and Fitness cd cd

The fitness industry in Singapore is among the most rapidly-evolving in the country.
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cd Today, large, well-known gym chains are no longer the primary options of regular gym-
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goers. This is because Singaporean gym-goers of today have become more interested in
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cd different and somewhat unusual fitness options. Boutique fitness businesses in

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cd particular have begun to thrive in the current Singaporean fitness scene.

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Tech start-ups have also been working with the Singaporean health and fitness industry,
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cd and such collaborations have boosted the reputation and profitability of both Singapore’s
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cd tech and fitness industries. Such start-ups have understood the change in tastes of the
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cd modern Singaporean gym-goer. They have created programs which enable their users to
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cd sample a variety of fitness activities which span many different disciplines.

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Medical Industry cd

Singapore’s medical industry is held in high regard all over the world. According to the
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cd official Health Care Rankings, the country’s medical system is ranked sixth in the world
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cd and first in Asia. The Singaporean government has been attempting to boost this
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cd reputation by increasing its expenditure on healthcare. The increased level of

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cd expenditure will be channeled towards general and community hospitals, polyclinics,

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cd eldercare centers, and nursing homes. For this reason, the demand for people who
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cd work in the healthcare and medical industry is expected to increase.

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The manufacturing of medical products is expected to grow exponentially in order to

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cd support the country’s healthcare industry. For this reason, the industry requires the
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cd input of researchers and engineers who will be able to design equipment which will be
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cd used by the healthcare professionals of Singapore.

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Recommendation c

Although Singapore is a secure investment haven with stable economics and low risk, it
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cd comes with it the higher cost of investment. The combination of limited land, funneled
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cd labour and imported resources brings up the cost of business in Singapore by a

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cd significant margin, and has to be contemplated by any business owner before vesting
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cd any capital. Opportunity for a supernormal return in Singapore is mitigated by the high
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cd start-up costs incurred. Low risk, low return.

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As a retail market by itself, the population numbers in Singapore are definitely

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cd insufficient to sustain a fast-growing corporation. But to use Singapore as a nexus to

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cd reach out to the South-East Asian market is a much more plausible strategy to consider.
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Conclusion c

After analyzing all these factors, It is clear that Singapore is a remarkable country. It
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cd houses talented and motivated people. It also provides great business opportunities. I
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cd can conclude that its business success in both domestic and international platforms is
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cd highly benefited by government policies. Its enterprise friendly approach boosts

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cd business as well. Singapore’s continuing development has made it a major competitor

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cd in the international market. The compulsory primary education and hardworking

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cd citizen are contributing factors.

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References

BBC (2018) Singapore country profile, available at: chttps://www.bbc.co.uk/news/world-

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asia-15961759 c

Bock, H. (2019) Singapore is most beautiful city in Asia, 11th most beautiful in the world,
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cd available at: chttps://www.straitstimes.com/lifestyle/singapore-is-most-beautiful-city-in-

cd

asia-11th-most-beautiful-in-the-world c

EDB Singapore (2018) Singapore flexes its standing as Asia’s technology capital, available
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cd at: https://www.edb.gov.sg/en/news-and-events/insights/innovation/singapore-flexes-its-
cd

standing-as-asias-technology-capital.html c

Human Rights Watch (2019) Singapore, available at: chttps://www.hrw.org/asia/singapore

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Pines, L. (2019) Singapore’s Top 5 Exports & Imports: Why It’s The World’s 14th Largest
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cd Export Economy, available at: chttps://commodity.com/singapore/ c

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Plecher, H. (2019) Singapore: Unemployment rate from 1998 to 2018, available at:
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cd https://www.statista.com/statistics/378643/unemployment-rate-in-singapore/ c

Quek, C. (2019) Commentary: The future is tech but where is Singapore’s engineering and
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cd IT talent?
cd cd Available cd at:
chttps://www.channelnewsasia.com/news/commentary/singapore-deep-technology-
talent-scheme-foreign-it-enginneering-11870930 c

US cd News (2018)
cd cd Overview of
cd cd Singapore, cd available cd at:
chttps://www.usnews.com/news/best-countries/singapore c