Singapore is strategically located on the divide between the generally developed Western hemisphere and the potentially broad development of the Eastern hemisphere. It is a powerful springboard from one side to the other. The country has maximized its role of being a bridge for trade and commerce through its comprehensive transportation, communication, and IT networks. A business structure complete with Free Trade Agreements, Double Taxation Agreements, and Investment Guarantee Agreements further enhances the country’s role as a conducive trade zone. Singapore has, thus, shown that it accepts globalization. This, coupled with a well-respected government, and transparent and consistent policies, makes the country a willing cosmopolitan center of world trade.
Annual Per Capita Income
Singapore ranks 30th in the hierarchy of international economies, based on the World Bank’s 2006 Key Indicators. The country has a Gross National Income (GNI) per capita of 29,320 US dollars.
The Asian Development Bank names Singapore as one of the top three Asian economies with the highest AFCE Indices, with Hong Kong and Taipei as the other two. According to the ADB, Actual Final Consumption Expenditure (AFCE) is the sum of individual consumption expenditures both by households and by government (principally education and health) and is the best available measure of household living standards. Singapore has a Per Capita Real AFCE of S$18,020.
Via CPA Australia
