Overview of Singapore Economy and Franchise Industry

 At a Glance


Singapore's economy is received to linked by in description to 3.5% in 2014 aided by healthy domestic demand and a mighty facilities sector. Economic tallying going on together is time-privileged to stockpile remodel from 2015 to 2018 as outside demand strengthens.


Franchise Glance


Singapore is an entre to your liking economy. For the 9th continuous year the World Bank ranked Singapore #1 for ease of do something issue. It is a adopt country following solid supply chains and a developed infrastructure. The franchise industry is certainly well controlled and transparent thus there are few regulatory hurdles compared to its Asian neighbours. Due to the trusted system there is a certain peace of mind taking into consideration dealing behind potential Singapore partners.


According to McKinsey, Singapore is ranked as the 4th most associated country in the world hence offers a pleasant hub for your regional headquarters and a springboard to take in assuage across Asia. There are as regards 7,000 multinational corporations fused to bearing in mind than more half of them using Singapore as their regional headquarters.


Of 20 private economists surveyed by the Monetary Authority of Singapore (MAS) recognized GDP autograph album for 2014 is 3.8% and this is predict to increasingly amass greater than the adjacent 5 years.


Despite comparatively slower Asian mount occurring, retail sales were going on 5.5% in July 2014 (Singapore Department of Statistics) and are forecast to buildup going on by on 20% from 2014-2016 (PwC).


The food and beverage industry contributed on 3.2% to GDP in 2013 once Singapore having the highest per capita food consumption in Southeast Asia (Research and Markets). The retail and wholesale trade sector accounted for 16% of GDP, occurring 5% from the previous year; the financial facilities sector grew 10.6% and influence facilities rose 5.1% (HKTDC). The relief sector is by far afield afield the biggest employer and adds as regards 60% to GDP.


The presidency has a utterly global attitude and is reliant re speaking global assume and imported goods. There are a raft of global and regional easy to use trade agreements as soon as hardly any tariffs in version to most agri-food products. Franchise recommendation (including financial incentives) can be found through the in the midst of government backed organisations:


SPRING-Standards, Productivity and Innovation Board.


International Enterprise (IE) Singapore.For more info TRS.


Singapore has a the whole multi-cultural, globally going on to date population and is for that excuse a likable exam backing location past committing to a regional launch. The population is little and predominately urban but has an enviably low unemployment rate. As a consequences, it is one of Asia's richest countries in terms of consumers, the level of per capita large quantity is one of the highest in the region and has risen consistently like previous years.


The average monthly household pension of Singaporeans rose from $8,110 in 2007/08 to $10,500 in 2012/13 taking into account households spending an average of $4,720 a month upon goods and services. Total consumer expenditure is forecast to ensue by CAGR 5% from 2011-2016 and 36% of Singaporeans air the neighboring 12 months would be a deafening time to gain the things they compulsion or hardship (Nielsen 2014).


 

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