rate of customers which causes stock price to fall, due to the situation at hand the government slash the economic progression report to 0.5% in the year 2003 to balance out the pressing issue. However the government together with the other industries including the Singapore Tourism Board has overcome the problem when a relief package being issued to aid those affected by the SARS outbreak economic progress fall which instigated a fee rebate for airlines and cruise industry and refund property taxes
factors enabled the Singapore economy to grow and develop over the past decades and have contributed to Singapore being Asia’s most competitive economy (Medtech, 2013). Singapore is well developed in its infrastructure and being in a strategic location as a port is one of the major factors behind its economic success. Known as the world’s busiest port, the maritime industry contributes approximately 7 per cent to Singapore’s GDP which makes up three-quarters of the Singapore economy
The influx of foreign labor has buoyed Singapore from a Third World to a First World country. However, there has been much hoo-ha about foreign labour policies being unjustified and unfair towards locals. This paper aims to gauge the effectiveness of our foreign labour policies and see whether or not Singapore has brought in more unskilled foreign workers or foreign talents than needed. According to Appendix A, foreign workers refer to unskilled labour intensive workers and foreign talents refer
Natural Resources Singapore is a set of islands of 710.2 sq km, located in South Asia between Malaysia and Indonesia. As in most islands, the climate of Singapore is tropical, with daily high temperatures moderated by the sea breezes and, thanks to the sea proximity, humidity and rainfalls throughout the year. The country’s territory consists in one main island and 60 smaller islets, which gives Singapore one of its main assets: 193 km of coastline. This coastline allows Singapore to be one of the
where human structures such as houses, commercial buildings, roads, bridges, and railways are heavily develop and that most inhabitants have non-agricultural jobs. Thus, according to this definition, Singapore falls under the category of an urban state. In a city where it is densely populated like Singapore, which has currently 5.46 million people living in its land area of a mere 718 square kilometres, issues like sustainability will arise. United Nation (n.d.) defines sustainability as the ability
challenges associated with it such as economic and social processes which are increasingly failing to comply with borders of nation states. Furthermore,
During the year 1947, overcrowding was the worst problem of Singapore causing it to suffer housing shortage (Sim, n.d.). At as early as 1927, there were public housing projects made by the Singapore Improvement Trust (SIT), an authority that aims to provide low-cost housing. Yet, this initiative was not enough for the fast-growing population’s demand (Chew, 2010). By the year 1960, the Housing and Development Board (HDB) was established to replace SIT. HDB focused on providing public flats for low-income
The Differences in The Policy in The Financial Crisis and The Impact between Malaysia and Singapore Asian Financial Crisis Malaysia In advanced of recover from the Asian Financial Crisis, Malaysia did not embraced the International Monetory Fund (IMF) and refused the aid offered from the IMF. In 1998, the prime minister, Mahathir Mohammad, had imposed the selective capital controls, which was an attempt to bring stability in the exchange rate, and regain control of monetory policy. It was design
al Written Assignment) “Governments should play active roles in managing short-run instability in the economy caused by unemployment and inflation problems.” Do you agree with the above statement? Please explain your view. Governments should play active roles in managing short-run instability in the economy caused by unemployment and inflation problems. Unemployment Unemployment is the state where people are unemployed. This happens when there are new or re-entrant in the workforce or people
say that millions of global tourists, flocking to Singapore in search of fashion, shopping, glitz and glamour hardly know the proper history of this island city-state located on the southern tip of the Malay Peninsula. It is a wonder, that being the smallest country in Southeast Asia, Singapore happens to be the site of several ancient port cities and a possession of several empires in its "not-so-well-known" history. To start with, when Singapore was colonized by the United Kingdom in the 19th century