Singapore  

Singapore has a low unemployment rate at 4% and capital stock per worker is the 10th highest, internationally. Productivity and efficiency is further enhanced through a low inflation rate of 2%, the 17th lowest globally. Domestic savings rates are the fourth highest in the world at 51% of GDP and the stability of credit is underscored with less than 2% of total loans having defaulted. Competition in the financial sector appears high with a net interest margin of 1.4 percentage points and the economy’s advanced status is reflected through low dependence upon raw material exports, ranking the country 30th. The level of foreign direct investment, at 15%, is within the top 10.

With only six formal procedures required to start a business, Singapore had a high level of 21,475 business start ups in 2007, ranking 33rd on this measure. Singapore’s economy is highly developed with a strong service sector producing an equivalent of 67% of GDP. Commercialisation of innovation technologies is also extremely high, with over 45% of goods exports comprising ICT and 58% of manufactured exports from the high-tech sector, ranking the country second on both variables. Internet bandwidth is very high, ranking 28th, with correspondingly high availability of secure servers at 297 per million people, ranking the country 15th, globally. Royalty revenues are the 16th highest globally, displaying the innovative nature of business in Singapore. Only the low level of investment in R&D, equivalent to 0.7% of GDP, detracts from the positive nature of other variables.

Despite the process of representative elections, the overall level of democracy in Singapore is low. The population is limited in its ability to participate in the political process and civil liberties are severely restricted. With designated executive elections, the regulation of the election process is low and there is a significant degree of autocracy. The judiciary is, however, independent and free from political interference. Singapore has a relatively stable political system that has been in place for 42 years, ranking the country 28th for regime stability.

From available information the standard of education in Singapore is high. The pupil to teacher ratio in primary schools achieves a moderate global ranking of 55th, with 20 students per teacher. Enrolment rate in primary and secondary education demonstrates an equal balance between boys and girls. Singaporean workers possess a high degree of secondary schooling at an average of 5.7 years, and a high level of tertiary education at an average of 4.2 years, ranking 20th and 43rd, respectively. No data were available concerning the levels of net primary school enrolment, gross secondary and tertiary school enrolment, and educational expenditure per student.

Whilst the levels of medical professionals and hospital beds per 1,000 people are near the global averages, Singaporeans enjoy excellent levels of health. With a health-adjusted life expectancy of 70 years, Singapore ranks within the top 20 in the Index on this variable. Furthermore, just 11% of the population reported health problems, the lowest rate, worldwide. All of the population have access to good sanitation facilities and 93% of the population report being satisfied with the water quality.* More than eight out of 10 describe themselves as well rested, and a low proportion, only 18%, reported experiencing pain the previous day.* Singapore has the fifth highest proportion of respondents, 92%, who describe themselves as being in good health.* At only two deaths per 1,000 births, Singapore also has the lowest incidence of infant mortality in the world.

Singapore reports no security challenges related to refugees and internally displaced persons but there are minor problems with grievances between communities, human flight, and insecurity and political terror. There were, however, no casualties due to civil war or ethnic violence during 2008, and the level of homicide is extremely low, ranking Singapore eighth for this variable. Other levels of crime are also extremely low with 5% of the population reporting theft and only 1% report being assaulted, both the third lowest rates in the world.* More than nine out of 10 citizens feel safe walking alone at night.*

Assessments of Singaporean governance show a highly effective system where enforcement of the rule of law is comprehensive. The quality of regulation and bureaucracy is extremely high, ranking third in the world and pointing towards an efficient and effective bureaucratic system. The government is rated as the most effective in the world at maintaining stability and implementing policy, despite the limitations that exist for citizens to participate politically. A high 95% of Singaporeans have confidence in the military, and perceptions of corruption in local government and businesses are low at 12% and 22%, respectively.* Singapore enjoys court approval ratings as high as 94%, and almost nine in 10 people believe in honest elections.*

The major limitation on Singapore’s freedom is its low ranking for freedom of religion, movement, and choice, locating the country at 73rd. Whilst the ranking for individual freedom is low, 79% of the population remain satisfied with the level of choice and control they possess over their lives.* Over 80% of the population believe the country to be a desirable destination for ethnic minorities and immigrants.*

Singapore displays mixed levels of social capital. A high proportion of people believe friends to be important and 91% believe they can rely upon family and friends, ranking the country 28th, worldwide.* Whilst a high 61% reported having donated money, only 15% reported volunteering and 30% claimed having helped a stranger, ranking the country in the bottom third on these variables.* General trust in others is low at 15% of the population, and membership of groups and clubs is low, with 7% of the population involved in sports, 7% in arts, and just 1% in environmental activities.*

* Data taken from the Gallup World Poll

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