Chasing the Singapore Dream

KCR is singing Paens to Singapore and the development it has achieved since its independence from Malaysia on August 9, 1965. Here are some statistics about Singapore and why Telangana seems keen on replicating its growth strategy

GDP

According to a press release from the ministry of trade and industry, Singapore, the government GDP forecast for 2014 is 2.5 to 3.5 percent. The Singapore economy grew by 2.4 per cent on a year-on-year basis in the second quarter, moderating from the 4.8 per cent growth in the previous quarter. Its retail sales also went up by 0.4 percent in June 2014.

EMPLOYMENT

Total number of employed people in the country is calculated to be around 3.54 million, by June 2014, which is 3.4 per cent higher than last year and the resident unemployment rate has improved from 2.9 to 2.8 per cent. Per-capita income is said to be 50 million dollars

FDI

The stock of foreign direct investment (FDI) in Singapore amounted to $746.7 billion as at end 2012. The United States ($106.5 billion), Netherlands ($72.7 billion), British Virgin Islands ($59.3 billion) and Japan ($59.1 billion) were major sources of FDI.

TOURISM

Number of tourists visiting Singapore was 14.5 million in 2012 and in 2013 the number increased by 10 per cent to 15.6 million. It attracts 5.3 crore tourists each year.

Telangana government is currently considering another tour to Singapore, this time, other government officials would visit Singapore to learn and imbibe its development ideology at all levels

PEOPLE

Life expectancy at birth for a male child is 80.2 years and for a female child it is 84.6 years.