Singapore
Singapore is a sovereign island city-state in Southeast Asia. It lies north of the equator, bordering the Straits of Malacca to the west, the Riau Islands to the south, and the South China Sea to the east.
Singapore is a sovereign island city-state in Southeast Asia. It lies north of the equator, bordering the Straits of Malacca to the west, the Riau Islands to the south, and the South China Sea to the east.
Overview
Official Name
Republic of Singapore
Capital
Singapore
Independence Day
9 August 1965
Population, Territory and Currency
Population & total area
5,921,231 (2022 est.)
728.3 square km
Source: CIA World Factbook
Currency
Singapore Dollar (SGD)
Average price per meal: SGD 6-10
Demographics
Male-Female: 50%-50%
Urban population: 100%
Youth aged 15-24 years: 15.01%
Source: CIA World Factbook (2022)
The Flag
The Singapore flag consists of 2 equal horizontal sections, red above white. A crescent moon occupies the upper left section, and next to it are 5 stars arranged in a circle. The red stands for universal brotherhood and equality of man. White symbolises everlasting purity and virtue. The crescent moon represents a young nation on the ascendant, and the stars each depict the country’s ideals of democracy, peace, progress, justice and equality.
Key Historical Events
1819
Stamford Raffles establishes trading post on Singapore.
1826
British colonial rule under the Straits Settlement.
1942-45
Japanese occupation.
1959
Singapore holds its first general election.
1963
Becomes part of Malaysia, following its merger with the Federation of Malaya, Sabah and Sarawak.
1965
Gains independence following its separation from Malaysia. Becomes a member of the United Nations.
Economic Profile
Singapore has a highly developed market-based economy. Together with Hong Kong, South Korea and Taiwan, they make up the Four Asian Tigers. The Singapore economy is known as one of the freest, most innovative and business-friendly economy in the world, with a high real GDP growth rate of 7.6% in 2021. Close to 70% of nominal value added in Singapore was generated by the services industries. Singapore’s economy is also heavily dependent on trade, with key exports including electronics, petroleum products, pharmaceuticals, transportation, and financial services.
Key Industries
Investment
Singapore attracted over $2,141.8 billion worth of Foreign Direct Investment in 2021. The country is an attractive country for investment due to its location, corruption-free environment, skilled workforce, low tax rates and advanced physical and digital infrastructure.
Financial and Insurance Services
Enjoying stable growth, Singapore is a regional hub of choice for many global financial services firms, facilitating the transfer of knowledge, technology and skills. This sector made up 14.6% of Singapore’s 2021 nominal GDP and is also a fast-growing sector.
Manufacturing
The manufacturing sector contributed 22.3% to Singapore’s nominal GDP in 2021, with key clusters in electronics, chemicals, biomedical sciences, logistics and transport engineering.
Places of Interest
Gardens By The Bay
City in a Garden
Built with the aim of raising the quality of life by enhancing greenery and flora, the nature park consists of 3 waterfront gardens, one of which houses the Flower Dome, the largest glass greenhouse in the world.
Sentosa
Island on Southern Coast
Separated from the main island of Singapore, it is a popular resort with 20mil visitors per year. Attractions include a 2km sheltered beach, Madame Tussauds, cable car, golf courses, Universal Studios theme park, hotels, and a casino.
Local Food
Chicken Rice
Considered one of Singapore’s national dishes, it consists of poached chicken and rice, served with cucumber and chilli sauce.
Chili Crab
Despite its name, chilli crab is not a very spicy dish. Mud crabs are stir-fried in a semi-thick, sweet and savoury tomato and chilli-based sauce.
Laksa
This dish consists of thick vermicelli with chicken/prawn/fish served in a spicy soup based on curry coconut milk.
Major Festivals
National Day
The annual celebration of Singapore’s independence from Malaysia on 9 August 1965. Celebratory activities include the National Day Parade and fireworks displays.
Labour Day
Celebrated annually on 1 May, Labour Day serves to remind workers what their collective strength has achieved. By making it a public holiday, it is intended to be a day set aside in honour of workers and their contributions to the country.