Singapore Research Assignment Cultural Considerations - 550 Words

Singapore Research Assignment: Cultural Considerations (Other (Not Listed) Sample) Content: Students NameProfessors NameCourseDateSingapore research assignmentSingapore is an island country and is ranked among the most successful countries whose international trading links are very powerful. The per capita GDP of Singapore is highly ranked with most of the leading nations of Europe. Singapore has around two million people from other nationalities, therefore, it is regarded as a multicultural country and its the best country to invest in. The following are some factors which have taken into consideration before deciding on investing in Singapore. Cultural considerationsIn Singapore there are five cultural dimension indexes which are as follows: power distance index is 74, individualism index is 20, masculinity index is 48, uncertainty avoidance index is 8 and long-term orientation is 48. ("A Socio-Cultural Analysis Of Singapore") The individualism index of 20 shows that this country values the needs of the whole community other than specific individuals. T he masculinity index also shows that in Singapore all the people which include both men and women have equal chances of doing business in the country. There is no gender discrimination in the country and therefore it will be easy to carry any business. The uncertainty avoidance index means that the people living in Singapore do not fear changes and challenges because they are risk-takers. This is very encouraging because by investing in this country means that the people will be willing to try the new products available without fear. Market sizeWith a population of 5.61 million, Singapore represents a good market size for any goods or services. The working-age i.e. 20-64 years account for a significant portion of this population. This can be regarded as an indication of the populations purchasing power. ("A Socio-Cultural Analysis Of Singapore") The countrys per capita has been on average 22952.93 USD since the year 1960 to 2016. GDP growthSince independence, the economy of S ingapore has been growing at a high rate and this has led to an increase in its GDP per capita. Singapore is now ranked as the country with the highest GDP per capita in the whole world. The country is most known for its friendly and competitive business environment and therefore its termed as the leading foreign direct investment recipient in the world. From the year 1975 to 2017 the average GDP in Singapore has been 6.78 percent, during the first quarter of the year 2010 the GDP was at 37.20 percent which has been the highest recorded in the country. During the fourth quarter of the year 2008 the GDP was recorded lowest at -13.50 percent. Entry barrierMore than 99 percent of Singapore imports usually enter the country without being charged any import duty. ("Singapore - Trade Barriers | Export.Gov")Therefore Singapore is known as a free port. However the country charges taxes on some goods such as wine and spirits, tobacco products, gasoline and motor vehicles. This is due to p reservation of the environment and the social status of the country. Politica...