Singapore Company Registration Service
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Singapore Economy Overview
Singapore is a world leader in several economic areas: The country is the world's fourth leading financial center, the world's second largest casino gambling market, one of the world's top three oil-refining centers, the world's largest oil-rig producer, and a major hub for ship repair services. The port is one of the five busiest ports in the world. The World Bank has named Singapore as the easiest place in the world to do business, and ranks Singapore the world's top logistics hub. It is also the world's fourth largest foreign-exchange trading center after London, New York City and Tokyo.
Singapore's economy depends heavily on exports and refining imported goods, especially in manufacturing, which constituted 27% of the country's GDP in 2010, and includes significant electronics, petroleum refining, chemicals, mechanical engineering and biomedical sciences sectors. In 2006, Singapore produced about 10% of the world's foundry wafer output. Singapore has a diversified economy, a strategy that the government considers vital for its growth and stability despite its size.
Singapore Economy --- Tourism
Tourism also forms a large part of the economy, and 10.2 million tourists visited the country in 2007. To attract more tourists, the government legalized gambling in 2005 and allowed two casino resorts (called Integrated Resorts) to be developed. Singapore also promotes itself as a medical tourism hub: about 200,000 foreigners seek medical care there each year. Singapore medical services aim to serve at least one million foreign patients annually and generate USD 3 billion in revenue.
Singapore Economy--- Education
Singapore is an education hub, and many foreign students study in Singapore. More than 80,000 international students studied in Singapore in 2006. Every morning, more than 5,000 Malaysian students cross the Johor–Singapore Causeway thinking that they will receive better education in Singapore. In 2009, 20% of all students in Singaporean universities were international students. The students were mainly from ASEAN, China and India.
Singapore Economy---Technology Sector
As a result of the recession in the early 2000s and a slump in the technology sector, Singapore's GDP contracted by 2.2% in 2001. The Economic Review Committee was set up in December 2001 and recommended several policy changes to revitalize the economy. Singapore has since recovered, due largely to improvements in the world economy; the economy grew by 8.3% in 2004, 6.4% in 2005, and 7.9% in 2006. After a contraction of 0.8% in 2009, the economy recovered in 2010, with GDP growth of 14.5%. Most work in Singapore is in the service sector, which employed 2,151,400 people out of 3,102,500 jobs in December 2010. The percentage of unemployed economically active people above age 15 is about 2%.
ATAHK's services
ATAHK offers investors all over the world one-stop and professional investment advisory and consulting services. Our services range from Singapore company registration to Singapore company follow-up, as well as trademark registration and visa application and etc. For further queries about investment in Singapore, please do not hesitate to contact ATAHK at anytime, anywhere by simply calling China hotline at 86-755-82143422, 86-755-82143512, or emailing to anitayao@citilinkia.com