Singapore has a great and varied history. Originally founded in 1819 by Stamford Raffles as part of the ever growing, ever expansive, East India Trading Company. Now the only island city state in the whole world, Singapore gained its independence from the United Kingdom in 1963. You can see a full timeline here.
Singapore sits nestled between a vast amount of islands and sits just south of the southernmost tip of continental Asia. It’s island is just beneath Malaysia and only around 137 kilometers from the equator, meaning it enjoys a tropical climate and consistent temperature throughout the year, it doesn’t really get affected by seasonal change and maintains a temperature between the low twenties and mid thirties.
The city state has become quite popular with westerners, as increasingly more people have moved there since the 1970’s. The decision to move abroad is not taken lightly, and is mainly because Singapore has so much to offer. The unemployment rate is low at 2.1% and if you’re skilled in the financial and banking sectors then Singapore truly is a great place of opportunity to work in consultancy or even set up your own business, it’s an entrepreneurial hub where success is attainable due to low start up costs. There’s a high demand for cash management and trade financial experts, meaning the lure for foreign bankers is huge, a stat compounded by a recent bankers survey where 27% of bankers said they wanted to work, beating one of the world leaders NTC. The growth of course has not been missed by the major players, Goldman Sachs, JPMorgan, and Citigroup among others have set up shop in Singapore, which means experts don’t necessarily have to find external or unknown work, and adding again proving how powerful Singapore has become in terms of global financial marketing. The move to Singapore is made further attractive by their exquisite health care system which is ranked as one of the best in the world. The world health organisation has place Singapore at number six in the whole world, putting them head and shoulders above all others in Asia.
With great financial clout comes exuberant spending. The marina bay sands, the highest valued casino in the world (8 billion dollars) is but one of the thriving casinos on offer. Gambling in Singapore is huge, and the yearly revenue is expected to exceed that of Las Vegas. Yet another booming business sector which benefits from tourism and the multitude of wealthy benefactors coming to Singapore to do business.
Event management is so important in Singapore primarily because of the successful financial districts. Early in 2016, Singapore was named Asia’s top financial center and third most important city of finance in the world, trailing only to London and New York. The world bank also named Singapore as the best place in the world to do business. As we have seen this is certainly the case within the financial sector, but other areas such as real estate are also booming, with five year growth figures over 50%, meaning if you buy something now it's going to shoot up in value over the next few years. With all of the booming business comes countless meetings, seminars, lectures business lunches, parties fundraisers and countless other large high flying events that need to be arranged. Having a multiplex of complex events in such a small space with limited areas can become a logistical nightmare, that’s why it is so important to hire an experienced event management team such as Marvele. They can source a venue tailor made to each individual business's needs, conference rooms or party rooms. Event management companies can also provide food based services, exhibitions, support for grand openings, photography solutions and much, much more. In today's thriving city of Singapore hiring event managers mean businesses never miss their shot. Event management can link up with the local nightlife, becoming a seamless transition into places such as Pangaea, which is extremely popular and takes around $121,000 a night, a huge sum for a nightclub and frequented by many a Singaporean businessman. Having a business event close to the ever growing coal district (in a huge ex power plant) can also be beneficial as it’s awash with clubs and entertainment, just what’s needed after a long seminar or business meeting.
The proximity of Singapore means it’s incredibly close to a plethora of paradises. Indonesia houses some of the best, Bintan island is awash with white sand beaches and quality resorts, meaning a break from the financial craziness is right at your fingertips. For such a small area, Singapore has a glut of wildlife to observe. The nearby nature reserve of Jawa boasts six diverse eco systems, providing a great destination for business trips to take a break from the office. With the amount of wealth in Singapore, one would expect the financial district to be an easy target for crime and criminal activity, however the crime rate is only 660 for every 100,00 residents, making the island nation one of the safest places in the world.
With the huge amount of competing financial clout and vast amount of financial business it is clear how so many events are undertaken. Singapore is classed as both the top international meeting city and top convention city, meaning countless companies will need help organizing various events. Businessmen come to meet at Singapore in lavish board meetings and receptions, conventions filling out huge halls with champagne and canapes being walked around and sampled by hundreds of businessmen who are tending their various stalls. The coming launch of integrated resorts means the city is only going to become more attractive as a convention and business meeting point. Integrated resorts in a plan by the Singapore tourism board to increase the attractiveness of the island city. They are world class amenities containing top, five star hotels, bespoke convention facilities, entertainment shows, fine dining, luxury retail and even theme parks. We can see how the city is constantly improving and morphing, and still trying to capture more tourism which not only covers the business sector, but also the alluring to holidaymakers and thrill seekers.
If someone thought of moving to Singapore, one of the first things they would have thought of is how their children fit into such a city. But the growth and success of Singapore is mirrored in its education system. It has one of the best educational systems in the world, regularly coming close to the top of the worldwide leagues.
The beauty of Singaporean success is that they pass it onto their citizens, instead of simply hoarding the wealth in the upper echelons of society. In fact, Singapore is home to the highest paid citizens in the world. This of course contributes to national happiness, is attractive to perspective people wanting to move to the city and also supports internal economic growth and is certainly one of the main reasons Singapore has experienced such growth. Skilled workers make even more, and this coupled with the reasonable taxation means people have a fair amount of disposable income which gets pumped back into the city. Singapore now has the world's second most competitive economy, and due to the fair taxation and payment, we can see why.
The success of Singapore is also seen in its public transportation systems, again, quite cheap and fairly priced. You can essentially travel the entire island for only $1.80 by train. If you compare that to other capital cities of the world i’m sure you’ll see how much of a good deal it is. The growth of the financial sectors have rubbed off on other parts of the city including the cities infrastructure. Singapore's melting plot is reflected in the cuisine offered in the city. It’s wide ranging, from Asian delicacies to home comforts. Michelin star restaurants staffed by top chefs can be frequented by the financially stable, yet there are countless street food vendors who offer incredibly cheap food options. The good value and success of these vendors have resulted in many homes being built without ovens.
The success of Singapore has been attributed to their perfection of the English language from early on. It stands to reason as it was once a British colony, so the way of western financial learnings have been imparted since the creation of the city. However, much of the growth should be attributed to the people of Singapore since leaving British rule. The creation of such an accessible and fair city is usually unseen in wider Asia, Singapore should be commended, it does what’s best for the normal citizens as well as the rich and influential. Many places in the world can take a leaf from that of Singapore's. They offer technological innovation, stunning and world leading financial services and a great many tourist attractions such as the gambling scene or world famous Singapore Grand Prix. The success of Singapore is there for all to see, and it will continue to grow from strength to strength as long as the financial sector continues to boom, its showing no signs of waning.