ASSIGNMENT-2

Global EDGE
Country Overview
Singapore, often known as the Republic of Singapore, is an independent city-state
and island nation in maritime Southeast Asia. It shares borders with the South
China Sea to the east, the Straits of Johor to the north, the Strait of Malacca to
the west, the Singapore Strait to the south, and the Strait of Malacca. It ranks
third in the world for population density. Singapore has four official languages:
English, Malay, Mandarin, and Tamil. The country has a heterogeneous
population and recognises the need to protect the cultural identities of the
different ethnic groups that make up the country.
Economy Of Singapore
Singapore's market economy is very advanced. In terms of Gross Domestic
Product (GDP) per capita, it has outpaced its rivals. Growth rates between 1965
and 1995 were generally around 6% per year, dramatically raising the
population's level of life. The economy of Singapore is viewed as being open,
creative, vibrant, and business-friendly. Due to its strategic location, highly
qualified workforce, low tax rates, state-of-the-art infrastructure, and zero-
tolerance for corruption, Singapore draws significant amounts of international
investment.
Employment
With an unemployment rate that did not surpass 4% from 2005 to 2014 and
peaked at 3.1% in 2005 and 3% during the global financial crisis of 2009,
Singapore has a low unemployment rate compared to other wealthy nations. It
decreased to 1.8% in the first quarter of 2015. Singapore does not have a
minimum wage because they believe it would reduce their ability to compete.
Additionally, among wealthy nations, it has one of the greatest income disparities.
Transportation facilities
3,356 km (2,085 mi) of roads make up Singapore's infrastructure, including 161
km (100 mi) of motorways. One of the busiest maritime and air commerce routes
in Asia is served by Singapore, a significant global transportation centre. Changi
Airport serves as a stopover on Qantas' Kangaroo Route between Sydney and
London and is a hub for Southeast Asian aviation. In terms of shipping tonnage
handled in 2019, the Port of Singapore, operated by PSA International and Jurong
Port, was the second busiest port in the world with 2.85 billion gross tonnes (GT)
and 37.2 million twenty-foot equivalent units.
Industrial Sector
The third-largest foreign exchange market, sixth-largest financial hub, second-
largest casino gaming market, third-largest oil-refining and trading hub, biggest
manufacturer of oil rigs, centre for ship repair services, and biggest logistical hub
in the world are all located in Singapore. The top contributors to the economy's
diversity are financial services, manufacturing, and oil refining. The largest
businesses in Singapore are found in the manufacturing, banking, transportation,
and telecommunications industries. Many of these businesses began as state-run
statutory corporations and have since gone public on the Singapore Exchange.
Culture
Pop, rock, folk, and classical music are all represented in Singapore's diversified
musical landscape. With the establishment of the Singapore Symphony Orchestra
(SSO) in 1979, western classical music has a strong presence in Singapore's
cultural life. Due to its unique combination of convenience, variety, quality, and
price, Singapore's diverse cuisine is promoted as a reason to visit the nation.
Chinese, Malay, and Indian foods are examples of local fare that are typically
associated with a specific ethnicity; yet the variety of cuisine has grown as a result
of the blending of many culinary philosophies.

References:
https://www.britannica.com/place/Singapore
https://www.visitsingapore.com/editorials/amazing-things-you-never-knew-
about-singapore/
https://www.thoughtco.com/singapores-economic-development-
1434565#:~:text=In%20the%201960s%2C%20the%20city,strongest%20economies
%20in%20the%20world.