Global Essays Examples

When investment hits our minds, Singapore is indeed the place to invest. According to international rankings, Singapore is a country with the most open economy, the least corrupt and one with minimal levies. The country has large Gross Domestic Income, which keeps on increasing on an annual basis. Last year, the GDP of Singapore was 326.5 billion US dollars. The same reflected 1.3% economic growth from 2012. Over the years, the economy of Singapore has experienced a positive growth year after year recording an average growth rate of 4.3% over the last five years. Last year, the population of Singapore was 5.4 million. The same translated to GDP of 60,463 American dollars per capita. The same is quite high providing a favorable avenue and market for electronics investment. The Gross National Product of Singapore is also relatively high and has always registered an increment over the years. In the year 2012, the country saw a GNP of 341640.90 Million SGD; which was a rise from 2011’s GNP which was 331346.70 Million SGD. Statistics show that the GNP, GDP and Per Capita income in Singapore have been increasing with time.
It, therefore, means that Singapore is a good avenue for investment especially in electronics. Why electronics? The standard of living of Singapore citizens is quite high and thus they have enough income to cater for their basic needs and still have disposable income to buy electronic equipment. In fact, in such a country where the standard of living is quite high, people tend to buy items that make their activities less manual and at the same time apply high technology in those activities. Electronics provide the technology required thus making the users also to be up to the technological advancement experienced in other parts of the world.
Another reason electronic investors are encouraged to invest in Singapore is due to the high general literacy rate which is above 95% for people aged fifteen years and above. This means that these people have basic knowledge of electronics, their use and relevance to technological advancement in production and other sectors. Industrialization in Singapore is well distributed across the three levels of industrialization, that is, primary, secondary and tertiary industries. In primary, the country has a large scale manufacture of electronics. This is, however, done by multinational corporations. On the other hand, authentic industries such as rubber milling and tin smelting are also developed where the new technology was adopted in these processes. Several other primary industries that include agriculture provide a good market for electronics.
The secondary industry is well developed in Singapore with major divisions in heavy and light industry. The common ones include chemical, automobile, consumer, steel, industrial equipment, aerospace, textile and energy industry. Tertiary industries, on the other hand, include commerce, transport and communication as well as personal and community services. What remains worth noting, is the fact that all these industries have faced a massive revolution with the adoption of advanced technology. As a result, demand for electronics in these industries is quite high and in dire need of increased supply.
Another major incentive is the high life expectancy in Singapore. As per 2011, life expectancy was 81.89 years. It, therefore, means that death is rare among adults in Singapore. This is due to the easy access of quality health care in the region. That notwithstanding, Singapore is characterized as one of the most urbanized countries in the world. This attracts a lot of tourists who come to enjoy themselves in the magnificent cities of Singapore. These tourists, therefore, coupled with the high population density provide a good market for electronics. I, therefore, encourage electronic investors to put up businesses in Singapore to harness the extensive purchasing power in Singapore as well as exploit the ready market in this country.