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1st
in the world in political and operational stability1
3rd
most competitive economy in the world2
4th
largest recipient of FDI in the world3
Resilient and stable economy
Healthy economic growth
High employment rate
Strong investor confidence
Amidst global economic headwinds, Singapore remains one of the world’s strongest economies. Anchored in political stability, low corruption rates and transparent public institutions, we are a trusted partner for businesses.
Sound monetary and fiscal policies, together with a robust judicial system, underpin our low-risk economy.
Source: GlobalData Country Risk Index (GCRI) Q4 2020
In just five decades, Singapore has emerged as one of the world’s most progressive economies, actively evolving our pro-business policies to keep pace with global developments. Our gross domestic product (GDP) per capita is the highest in the region.
GDP per capita
(Constant 2015 US$) (in thousands)
Source: World Bank Group, DataBank, World Development Indicators. Accessed 10 February 2023
Source: World Bank Group, DataBank, World Development Indicators. Accessed 10 February 2023
Source: World Bank Group, DataBank, World Development Indicators. Accessed 10 February 2023
Singapore has a consistently high employment rate, thanks to an agile, adaptable and highly motivated workforce.
We also have a fierce commitment to talent development: besides a top-notch education system, Singapore’s nationwide skills development initiatives ensure our people keep up with changes in the global economy.
Learn more about Singapore’s talent pool
Source: Asian Development Bank, Key Indicators for Asia and the Pacific 2022
Singapore receives more foreign direct investment (FDI) than most of the world’s developed economies, and more than 10 per cent of total FDI inflows to Asia are channelled here.
With access to global capital and low levels of risk, businesses can be confident in the potential growth of their investments.
Source: UNCTADstat, Foreign direct investment: Inward and outward flows and stock, annual, 2021
Our globally leading industries form the diversified economy of Singapore, with the growing services sector bolstering our manufacturing-based economy.
Singapore’s Smart Nation drive harnesses advancements in digital technologies to create seamless, tech-driven experiences, all with one key objective: to enable the success of our people and businesses in a digital world.
Collaboration with businesses is essential to realising our vision. Enterprises with capabilities in artificial intelligence (AI) and data analytics, cybersecurity, immersive media and the Internet of Things will be at the heart of our Smart Nation's digital transformation.
Companies can also participate in ideation, develop proof-of-concepts and create prototypes to solve problem statements from industry players, via the Open Innovation Platform.
1st in Asia
Most digitally competitive economy
Source: IMD World Competitiveness Center, World Digital Competitiveness Ranking 2022
S$65.3 billion
Digital transformation's projected contribution to Singapore's GDP by 2030
Source: Access Partnership, "Strengthening Singapore’s growth in the post-pandemic future", 7 January 2023
S$3.8 billion
Estimated info-communications technology
(ICT) procurement for 2022
Source: GovTech, "Government’s FY22 ICT spending to hold steady at $3.8 billion", 10 June 2022
1st in the world
Best global smart city (2021)
Source: IMD-SUTD Smart City Index (SCI) 2021
S$25 billion
Estimated government investment in research, innovation and enterprise under RIE2025 Plan
Source: Nation Research Foundation, Research, Innovation and Enterprise (RIE) 2025 Plan
S$2 billion
Government investment in application systems using AI, sensors and data science
Source: GovTech, "Government’s FY22 ICT spending to hold steady at $3.8 billion", 10 June 2022
1st in Asia
Most digitally competitive economy
Source: IMD World Competitiveness Center, World Digital Competitiveness Ranking 2022
1st in the world
Best global smart city (2021)
Source: IMD-SUTD Smart City Index (SCI) 2021
S$65.3 billion
Digital transformation's projected contribution to Singapore's GDP by 2030
Source: Access Partnership, "Strengthening Singapore’s growth in the post-pandemic future", 7 January 2023
S$25 billion
Estimated government investment in research, innovation and enterprise under RIE2025 Plan
Source: Nation Research Foundation, Research, Innovation and Enterprise (RIE) 2025 Plan
S$3.8 billion
Estimated info-communications technology
(ICT) procurement for 2022
Source: GovTech, "Government’s FY22 ICT spending to hold steady at $3.8 billion", 10 June 2022
S$2 billion
Government investment in application systems using AI, sensors and data science
Source: GovTech, "Government’s FY22 ICT spending to hold steady at $3.8 billion", 10 June 2022
