Learn How Did Singapore Grew So Rich in the Below Videos. How has its GDP been Over the Years Since Independence and How Did it Become a High Income Nation ?
The Economy of Singapore’s GDP per capita grew over 125 times since independence, to become a high income nation. Rarely in the history of humanity has a nation travelled the path from poverty to riches so quickly or completely. But how did Singapore do it?
What are the secrets to Singapore’s success? To understand the economy of Singapore, we must briefly look at its history. Singapore got its start in life as a venture of the British East India Company in the early 18th century, due to its strategic location between India, China and South East Asia.
By the late 1800s it had been fully incorporated as a crown colony of the British Empire, becoming an important naval base in the far east. The stability and infrastructure provided made the island an attractive option for migrants, with the island’s population growing rapidly.Economics AltSimplified