The Singapore Economy: An Analysis Of Singapore's Economy

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Introduction Singapore has one of the highest per capita incomes in Asia and is an important global business as well as transportation hub. In 2014, the Singapore economy grew by 2.9% as compared with 4.4% in the previous year. The largest sector of the economy is services and accounts for close to 72% of the GDP while other industry contributes the remaining 28%. Tourism development is a crucial part of Singapore's energy to transform into a lively city and an enhanced economy. Our tourism scene has changed throughout the years, with the presentation of amusement changing tourism offerings, for example, the FORMULA ONE night race and the Integrated Resorts. Other than creating tourist spend, these tourism items give more relaxation choices …show more content…

It offers a myriad of quality programmes, ranging from executive education & corporate training to experiential learning vacations, catering to the varied needs and aspirations of visitors who are keen on short term educational travel opportunities. From character-building for the young to a range of training and enrichment programmes for executives and even leisure travellers seeking to incorporate meaningful learning activities into their holiday itinerary, Singapore is a compelling destination for education-related travel, especially for students on overseas school trips, and corporate groups here for training and team building. 5.10 Airport Singapore's international airport, Changi Airport, is one of the best airports globally and has won more than 490 awards. The airport caters to over 100 airlines flying to some 300 cities in about 80 countries and territories worldwide. It is expected to double its capacity by 2020 to serve 135 million passengers per annum. Each week, about 6,600 flights land or depart from Changi Airport, or about one every 90 seconds, with close to 54.1 million passengers passing through the airport in 2014. (Source: Changi Airport

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