Singapore at 50

Singapore has come a long way since its independence on August 9, 1965. During its early years, the gross domestic product (GDP) per capita was a mere US$500 and unemployment exceeded 10 percent. Like other developing countries, there were racial tensions, housing shortages, slums with poor sanitation, a high crime rate and even corruption. There were also hostile neighbors. Malaysia expelled Singapore from its Federation and Indonesia just ended its armed 'konfrontasi' with the Malaysian Federation, which at that time still included Singapore. Lastly, there was the departure of the British colonial government and its Royal Navy, which provided not only security, but also helped to drive the local economy.

Fast forward half a century later and Singapore's GDP per capita (at purchasing power parity) stands above US$56,000, the third highest in the world, with a mere two percent unemployment rate. Today, as visitors land at Singapore's Changi airport, one of the world's most efficient and modern airports, they will see a neat row of gleaming wide-bodied aircrafts belonging to Singapore Airlines, the nation's flag carrier, often voted the world's best airline. Driving from the airport, they will notice the country's efforts to turn itself into a 'garden city', with lush shady greenery along its multi-lane highways. Crossing the Kallang River visitors enter an ultra-clean and orderly modern cosmopolitan city with a state of the art broadband connectivity. Further west of the glittering city skyline is Asia's busiest container port and beyond that, is the world's third largest oil refinery complex.

August 11, 2015