This paper is published in Volume 3, Issue 1, 2018
Area
Pacific Rim Asian Societies
Author
Sreehari I M
Co-authors
Akanksha Tharman
Org/Univ
Christ University, Bengaluru, Karnataka , India
Pub. Date
30 January, 2018
Paper ID
V3I1-1201
Publisher
Keywords
Super Economy, Development, Opportunities, Strategies, Manufacturing, and Monitor.

Citationsacebook

IEEE
Sreehari I M, Akanksha Tharman. Challenges Faced by Singapore Economy in the Future, International Journal of Advance Research, Ideas and Innovations in Technology, www.IJARnD.com.

APA
Sreehari I M, Akanksha Tharman (2018). Challenges Faced by Singapore Economy in the Future. International Journal of Advance Research, Ideas and Innovations in Technology, 3(1) www.IJARnD.com.

MLA
Sreehari I M, Akanksha Tharman. "Challenges Faced by Singapore Economy in the Future." International Journal of Advance Research, Ideas and Innovations in Technology 3.1 (2018). www.IJARnD.com.

Abstract

The article aims to figure out the challenges Singapore possibly faces in the future to be the super economy in the future. Singapore was one of the poorest countries at the time of their independence, after a forced independence and a country with fewer resources Singapore have managed to become one of the wealthiest countries in the world. Singapore achieved all its fortunes through a long-term vision and strict government control. But the situation and circumstances are not the same in the future as Singapore has already reached its peak of its development. Now Singapore has to concentrate on maintaining their position. Like every other country, Singapore also has to face a lot of challenges to maintain its economy. The technological advancement, changes in labor allocation, the shift in job patterns, and change in the education system are few of the challenges which Singapore possibly face. The world is full of opportunities and the ones who grab it becomes the winner. Now Singapore has all the facilities and tools to seize each and every opportunity available. Singapore is now a prosperous country which is the ninth largest country in terms of GDP Percapita. Singapore focuses on the manufacturing sector, shipping, and business. Now Singapore economy should target to climb up the ladder and maintain their position as a super economy. For improving their country the Singapore economy has to concentrate on the changes happening across the world. Once the changes have been identified the economy has to formulate strategies to grab the opportunities available.
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