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Singapore - Coggle Diagram
Singapore
Political
Citizen's Thoughts and feelings on destructive Politics: Why PAP government is so hostile towards honest criticism?
#1 most competitive economy: IMD World Competitiveness Ranking 2020.
Singapore topped both IMD's World Competitiveness 2020 and World Economic Forum (WEF)'s Global Competitiveness rankings in 2019.
With Singapore’s digital-friendly environment, high-quality infrastructure, and efforts in adopting technologies, Singapore ranked first in the IMD Smart City Index (2019) and second globally in the IMD World Digital Competitiveness Ranking (2019).
Skilled Workforce: #1 in Asia-Pacific, #3 globally, for talent competitiveness
INSEAD's Global Talent Competitiveness Index 2020
Singapore offers a highly skilled and cosmopolitan labour force – ranking 1st in Asia-Pacific, and 3rd worldwide in the 2020 INSEAD Global Talent Competitiveness Index. Singapore also ranked first in its ability to enable and attract talent.
Pro-Business Environment:
2 in the word for ease of doing business
World Bank's Doing Business Survey 2020
Singapore’s regulatory environment is highly conducive to the set-up and operations of a firm in Singapore. There is also stable and efficient infrastructure to support starting a business, financial intermediation and enforcement of contracts.
People's Action Party The PAP has ruled Singapore since independence. Formidable attempts throughout the decades by opposition politicians have suffered great setbacks. The PAP has historically sought to weaken political opposition through lawsuits; such was the case against the Singapore Democratic Party’s Chee Soon Juan, who was sued into bankruptcy.
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Technology
Technological advancements influenced from overseas relations has helped improve the labour force of SMEs
Due to information technology and globalization, employees were urged by the government to take individual responsibility and accept the need for lifelong learning to move more freely among employers to better fulfill the need for a flexible labour market
Singapore Government encourages employees and unions to adopt some features of the Japanese employment system as the nation embarked on a transformation of its industrial relations system to one compatible with a high technology economy
Social
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Ensures equality in terms of gender, age and skills in the country.
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Key trends/challenges
Key Trends
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In the past year, a slowdown in manufacturing has weighed on economic growth both globally and in Singapore. GDP growth in Singapore for 2019 was modest at 0.7%, but is expected to increase in 2020.
An age-old industry in a fast-changing world, the retail sector faces challenges as well as opportunities. In November 2019, retail sales in Singapore fell 4% year-on-year, representing the 10th straight month of decline.
The Singapore hospitality sector has been a hive of activity in 2019. Last July, hotel occupancy rates climbed to 93.8% – the highest in over a decade – according to the Singapore Tourism Board.
There has been increased investments in technology and green initiatives by the Government and businesses, which are likely set to make Singapore a leading city of the future.
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