Singapore, a small island city-state in Southeast Asia , is often cited as a model of a successful economy. It has achieved rapid economic growth over the past 35 years since independence. Despite its small domestic economy and its lack of natural resources, Singapore has successfully established itself as one of the top trading nations in the world, and is consistently voted one of the best business destinations. It is recognised as one of the most competitive economies in the world, supported by a competent workforce. S ingaporeans enjoy one of the highest quality of life, with a per capita GDP of US$24,000 (S$44,000).
The relatively rich economy of Singapore enables the people to enjoy a high quality of life and living standards. Singapore has been rated by a number of international organizations for having the best international airport, the best in the world for public safety, public health, communications and public transport. The success of Singapore’s economy results from a number of factors and among them, political and social stability, thrift and industry of the population, its highly-skilled and well-educated workforce, emphasis on education and science and technology, its strategic location, a pro-business government, effective economic policies and its investment in infrastructure.