Executive Csummary

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

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

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

fcd Singapore has created its competitive niche as a destination for regional
fcd headquarters, branch offices and holding companies for doing business all across
fcd Asia.
Singapore offers foreign investors a highly skilled workforce, English-speaking business

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fcd environment, business-friendly legal and tax systems, immense logistics and
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fcd transportation capacities, and over sixty double taxation avoidance agreements, among
fcd other advantages. Furthermore, the city-state consistently takes measures to align its
fcd policies fcd with fcd the fcd international fcd standards fcd emanating fcd from fcd the fcd World fcd Trade
fcd Organization, the Organization for Economic Co-operation and Development, and even
fcd issue-centric fcd organizations fcd like fcd the fcd International fcd Accounting fcd Standards fcd Board.
Singapore has consistently been ranked first on the World Bank’s Ease of Doing
fcd Business Index, with particular strengths in “protecting investors” and “trading
fcd across borders.” In fact, the city-state runs in such an efficient, business-friendly
fcd manner that it has been said to run like a corporation itself; “Singapore Inc.”
Singapore’s excellent strategic location and highly open economy make it attractive for
fcd companies looking to conduct business here. Furthermore, Singapore has a stable
fcd political environment, low taxes and a highly skilled workforce making it one of the
fcd most favorable business locations in the world.

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

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

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In Singapore, just as is the case anywhere else in the world, certain industries are
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fcd more suitable to be invested than others. Those who invest in such business
fcd industries will be sure to see many financial benefits coming their way. The following
fcd are some of the most suitable industries to be invested in Singapore today:
Financial Technology (Fintech) fcd fcd
Singapore has the status of being one of the world’s financial hubs. This fact holds
fcd true with regard to financial technology (fintech). In recent years, the size of the
fcd fintech industry in Singapore has grown tremendously. Due to the implementation
fcd of many incentives from the government as well as individual financial institutions,
fcd cashless payments have become extremely common today. The many e-wallets
fcd available in Singapore facilitate such payments. Therefore, the fintech industry of
fcd Singapore has huge potential for profitability. fcd fcd fcd fcd fcd
Freelance Economy fcd
Many people in Singapore have chosen to join the rapidly expanding freelance
fcd economy. The increase in the influence of social media has done much to facilitate
fcd interaction between freelance workers and their clients. This fact applies regardless
fcd of the line of work in which the freelancer inhabits. Freelancers who have a significant
fcd network of clients can also leverage this large client base to their advantage, resulting
fcd in even more profits and revenue.

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

fcd residents who are employed in Singapore. As Singapore’s freelance economy

fcd continues to strengthen, this figure is only expected to increase significantly.

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

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Health and Fitness fcd fcd
The fitness industry in Singapore is among the most rapidly-evolving in the country.
fcd Today, large, well-known gym chains are no longer the primary options of regular
fcd gym-goers. This is because Singaporean gym-goers of today have become more
fcd interested in different and somewhat unusual fitness options. Boutique fitness
fcd businesses in particular have begun to thrive in the current Singaporean fitness
fcd scene.
Tech start-ups have also been working with the Singaporean health and fitness
fcd industry, and such collaborations have boosted the reputation and profitability of both
fcd Singapore’s tech and fitness industries. Such start-ups have understood the change in
fcd tastes of the modern Singaporean gym-goer. They have created programs which
fcd enable their users to sample a variety of fitness activities which span many different
fcd disciplines.
Medical Industry fcd
Singapore’s medical industry is held in high regard all over the world. According to
fcd the official Health Care Rankings, the country’s medical system is ranked sixth in the
fcd world and first in Asia. The Singaporean government has been attempting to boost
fcd this reputation by increasing its expenditure on healthcare. The increased level of
fcd expenditure will be channeled towards general and community hospitals, polyclinics,
fcd eldercare centers, and nursing homes. For this reason, the demand for people who
fcd work in the healthcare and medical industry is expected to increase.

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

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

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Recommendation fc
Although Singapore is a secure investment haven with stable economics and low risk, it
fcd comes with it the higher cost of investment. The combination of limited land,
fcd funneled labour and imported resources brings up the cost of business in Singapore
fcd by a significant margin, and has to be contemplated by any business owner before
fcd vesting any capital. Opportunity for a supernormal return in Singapore is mitigated by
fcd the high 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

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

fcd reach out to the South-East Asian market is a much more plausible strategy to
fcd consider.
Conclusion fc
After analyzing all these factors, It is clear that Singapore is a remarkable country. It
fcd houses talented and motivated people. It also provides great business opportunities.
fcd I can conclude that its business success in both domestic and international platforms
fcd is highly benefited by government policies. Its enterprise friendly approach boosts
fcd business as well. Singapore’s continuing development has made it a major

fcd competitor in the international market. The compulsory primary education and
fcd hardworking citizen are contributing factors. fcd fcd fcd fcd
References
BBC (2018) Singapore country profile, available at: fchttps://www.bbc.co.uk/news/world-

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asia-15961759 fc
Bock, H. (2019) Singapore is most beautiful city in Asia, 11th most beautiful in the
fcd world, available at: fchttps://www.straitstimes.com/lifestyle/singapore-is-most-beautiful-

fcd fcd
city-in-asia-11th-most-beautiful-in-the-world fc
EDB Singapore (2018) Singapore flexes its standing as Asia’s technology capital,
fcd available at: https://www.edb.gov.sg/en/news-and-events/insights/innovation/singapore-

fcd fcd
flexes-its-standing-as-asias-technology-capital.html fc
Human fcd Rights fcd Watch fcd (2019) fcd Singapore, fcd available fcd at:
fchttps://www.hrw.org/asia/singapore fc
Pines, L. (2019) Singapore’s Top 5 Exports & Imports: Why It’s The World’s 14th
fcd Largest Export Economy, available at: fchttps://commodity.com/singapore/ fc

fcd fcd fcd fcd
Plecher, H. (2019) Singapore: Unemployment rate from 1998 to 2018, available at:
fcd https://www.statista.com/statistics/378643/unemployment-rate-in-singapore/ fc
Quek, C. (2019) Commentary: The future is tech but where is Singapore’s engineering
fcd and fcd IT fcd talent? fcd Available fcd at:

fchttps://www.channelnewsasia.com/news/commentary/singapore-deep-technology-
talent-scheme-foreign-it-enginneering-11870930 fc
US fcd News fcd (2018) fcd Overview fcd of fcd Singapore, fcd available fcd at:
fchttps://www.usnews.com/news/best-countries/singapore fc

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Executive fcSummary fc

fcd “PESTLE Analysis of Singapore.” This report provides an analysis of Singapore’s

fcd suitable business industry to be launched/invested in Singapore.

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

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

fcd most favorable business locations in the world.

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

fcd outward looking open economy.

Financial Technology (Fintech) fcd fcd

Freelance Economy fcd

fcd in even more profits and revenue.

fcd who work in Singapore today. Freelancers comprise approximately 9% of all

fcd residents who are employed in Singapore. As Singapore’s freelance economy

fcd continues to strengthen, this figure is only expected to increase significantly.

fcd ensure that they make significant profits.

Medical Industry fcd

fcd work in the healthcare and medical industry is expected to increase.

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

fcd be used by the healthcare professionals of Singapore.

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

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

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

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

fcd world, available at: fchttps://www.straitstimes.com/lifestyle/singapore-is-most-beautiful-

fcd available at: https://www.edb.gov.sg/en/news-and-events/insights/innovation/singapore-

fcd Largest Export Economy, available at: fchttps://commodity.com/singapore/ fc

fcd and fcd IT fcd talent? fcd Available fcd at:

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