Singapore, officially the Republic of Singapore, is an island country and city-state in maritime Southeast Asia. The country's territory comprises one main island, 63 satellite islands and islets, and one outlying islet; the combined area of these has increased by 25% since the country's independence as a result of extensive land reclamation projects. It has the second highest population density of any country in the world, although there are numerous green and recreational spaces as a result of urban planning. With a multicultural population and in recognition of the cultural identities of the major ethnic groups within the nation, Singapore has four official languages – English, Malay, Mandarin, and Tamil.
Economy
Singapore has a highly developed market economy, based historically on extended entrepôt trade. Along with Hong Kong, South Korea, and Taiwan, Singapore is one of the Four Asian Tigers, and has surpassed its peers in terms of Gross Domestic Product (GDP) per capita. Between 1965 and 1995, growth rates averaged around 6 per cent per annum, transforming the living standards of the population.
The Singaporean economy is regarded as free, innovative, dynamicand business-friendly. For several years, Singapore has been one of the fewcountries with an AAA credit rating from the big three, and the only Asian country to achieve this rating. Singapore attracts a large amount of foreign investment as a result of its location, skilled workforce, low tax rates, advanced infrastructure and zero-tolerance against corruption. It was the world's 4th most competitive economy in 2023, according to the International Institute for Management Development's World Competitiveness Ranking of 64 countries, with the 3rd highest GDP per capita. Roughly 44 percent of the Singaporean workforce is made up of non-Singaporeans. Despite market freedom, Singapore's government operations have a significant stake in the economy, contributing 22% of the GDP. The city is a popular location for conferences and events.
Singapore is the world's 3rd-largest foreign exchange centre, 6th-largest financial centre, 2nd-largest casino gambling market, 3rd-largest oil-refining and trading centre, largest oil-rig producer and hub for ship repair services, and largest logistics hub.The economy is diversified, with its top contributors being financial services, manufacturing, and oil-refining. Its main exports are refined petroleum, integrated circuits, and computers, which constituted 27% of the country's GDP in 2010. Other significant sectors include electronics, chemicals, mechanical engineering, and biomedical sciences. Singapore was ranked 7th in the Global Innovation Index in 2022. In 2019, there were more than 60 semiconductor companies in Singapore, which together constituted 11% of the global market share. The semiconductor industry alone contributes around 7% of Singapore's GDP.
Tourism
Tourism is a major industry and contributor to the Singaporean economy, attracting 18.5 million international tourists in 2018, more than three times Singapore's total population. Singapore is the 5th most visited city in the world, and 2nd in the Asia-Pacific. In 2019 tourism contributed directly to about 4% of Singapore's GDP, down from 2016, when tourism contributed, directly and indirectly, to around 9.9% of Singapore's GDP. Altogether, the sector generated approximately 8.6% of Singapore's employment in 2016.
Education
Singapore is also an education hub, with more than 80,000 international students in 2006. 5,000 Malaysian students cross the Johor–Singapore Causeway daily to attend schools in Singapore. In 2009, 20% of all students in Singaporean universities were international students—the maximum cap allowed, a majority from ASEAN, China and India.
Singapore students have excelled in many of the world education benchmarks in maths, science and reading. In 2015, both its primary and secondary students rank first in OECD's global school performance rankings across 76 countries—described as the most comprehensive map of education standards. In 2016, Singapore students topped both the Program International Student Assessment (PISA) and the Trends in International Mathematics and Science Study (TIMSS). In the 2016 EF English Proficiency Index taken in 72 countries, Singapore place 6th and has been the only Asian country in the top ten.
Healthcare
Singapore has a generally efficient healthcare system, even though health expenditures are relatively low for developed countries. The World Health Organisation ranks Singapore's healthcare system as 6th overall in the world in its World Health Report. Singapore has had the lowest infant mortality rates in the world for the past two decades. In 2019, Singaporeans had the longest life expectancy of any country at 84.8 years. Women can expect to live an average of 87.6 years with 75.8 years in good health. The averages are lower for men. Singapore is ranked 1st on the Global Food Security Index.