The working-age population (aged 15-64) will gradually decrease, leaving fewer workers to economically support the elderly population. Singapore’s history dates back at least eight hundred years, having been a maritime emporium known as Temasek and subsequently a major constituent part of several successive thalassocratic empires. Its contemporary era began in 1819, when Stamford Raffles established Singapore as an entrepôt trading post of the British Empire.
Maritime threats
The growth of the foreign-born population has continued to be rapid; as of 2015, the foreign-born composed 46% of the total population. At the same time, growing numbers of Singaporeans are emigrating for education and work experience in highly skilled sectors such finance, information technology, and medicine. Singapore is a unitary parliamentary republic in the Westminster tradition of unicameral parliamentary government, and its legal system is based on common law. While the country is de jure a multi-party democracy with free elections, the government under the People’s Action Party (PAP) wields widespread control and dominance over politics and society without much electoral competition.
- Consequently, the nonresident share of Singapore’s population plummeted to less than 3%.
- It joined the Malaysian Federation in 1963 but was ousted two years later and became independent.
- The government is attempting to restructure Singapore’s economy to reduce its dependence on foreign labor, raise productivity growth, and increase wages amid slowing labor force growth and an aging population.
- Most married couples have only one or two children in order to invest more in each child, including the high costs of education.
Singapore
As the country industrialized, however, it loosened restrictions on the immigration of manual workers. From the 1980s through the 2000s, the foreign population continued to grow as a result of policies aimed at attracting foreign workers of all skill levels. More recently, the government has instituted immigration policies that target highly skilled workers. Skilled workers are encouraged to stay and are given the opportunity to become permanent residents or citizens. The country, however, imposes restrictions on unskilled and low-skilled workers to ensure they do not establish roots, including prohibiting them from bringing their families and requiring employers to pay a monthly foreign worker levy and security bond.
Government and politics
The settlement changed hands several times in the ensuing centuries and was eventually burned in the 17th century and fell into obscurity. It joined the Malaysian Federation in 1963 but was ousted two years later and became independent. Singapore subsequently became one of the world’s most prosperous countries with strong international trading links (its port is one of the world’s busiest in terms of tonnage handled) and with per capita GDP equal to that of the leading nations of Western Europe. Singapore has one of the lowest total fertility rates (TFR) in the world – an average of 1.15 children born per woman – and a rapidly aging population. Women’s expanded educations, widened aspirations, and a desire to establish careers has contributed to delayed marriage and smaller families. Most married couples have only one or two children in order to invest more in each child, including the high costs of education.
In 1867, the colonies in Southeast Asia were reorganised, and Singapore came under the direct control of Britain as part of the Straits Settlements. During World War II, Singapore was occupied by Japan in 1942 and returned to British control as a separate Crown colony following Japan’s surrender in 1945. Singapore gained self-governance in 1959 and, in 1963, became part of the new federation of Malaysia, alongside Malaya, North Borneo, and Sarawak. It enjoys an open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly of electronics, petroleum products, chemicals, medical and optical devices, pharmaceuticals, and on Singapore’s vibrant transportation, business, and financial services sectors.
Civil aircraft registration country code prefix
Most of Singapore’s pre-World War II population growth was a result of immigration. During World War II, immigration came to a halt when the Japanese occupied the island but revived in the postwar years. Policy was restrictive during the 1950s and 1960s, aiming to protect jobs for residents by reducing the intake of low-skilled foreign workers and focusing instead on attracting professionals from abroad with specialist skills. Consequently, the nonresident share of Singapore’s population plummeted to less than 3%. A Malay trading port known as Temasek existed on the island of Singapore by the 14th century.
Factors contributing to this trend are a focus on careers, long working hours, the high cost of living, and long waits for public housing. With fertility at such a low rate and rising life expectancy, the proportion of the population aged 65 or over is growing and the youth population is shrinking. Singapore is projected to experience one of the largest percentage point increases in the elderly share of the population at 21% between 2019 and 2050, according to the UN.
The government is attempting to restructure Singapore’s economy to reduce its dependence on foreign labor, raise productivity growth, and increase wages amid slowing labor force growth and an aging population. Singapore has attracted major investments in advanced manufacturing, pharmaceuticals, and medical technology production and will continue efforts to strengthen its position as Southeast Asia’s leading financial and technology hub. Singapore is a signatory of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and a party to the Regional Comprehensive Economic Partnership (RCEP) negotiations with nine other ASEAN members plus Australia, China, India, Japan, South Korea, and New Zealand. In 2015, Singapore formed, with the other ASEAN members, the ASEAN Economic Community. As Singapore’s economy expanded during the 19th century, more and more Chinese, Indian, and Malay labor immigrants arrived.
The PAP has governed the country continuously since full internal self-government was achieved in 1959, and currently holds a supermajority with 79 out of 93 elected seats in Parliament. One of the five founding members of ASEAN, Singapore is also the headquarters of the Asia-Pacific Economic Cooperation Secretariat, the Pacific Economic Cooperation Council Secretariat, and is the host city of many international conferences and events. Singapore is also a member of the United Nations, the World Trade Organization, the East Asia Summit, the Non-Aligned Movement, and the Commonwealth of Nations.