Pestle of Singapore regarding politics risk quite
Pestle analysisofSingapore By Tewa A levelIndexPolitical Page no.3Economic Page no.4Social Page no.5Technology Page no.
5Legal Page no.5Environment Page no.6Politicalright1043759The current situation of Singapore regarding politics risk quite low. Singapore is a democratic country.
There will be an election to represent and to lead Singapore. Today, Singapore has turned into a peaceful country and so does the businesses, “moreover” there are more opportunities for the jobs.”However”, most of the industries fail to operate in Singapore due to high cost of production such as high cost for employment, high tax for polluting, high rental cost, high commodities price which lead the businesses to have fewer demands “moreover” customer with less income are forced to buy the high cost product or to migrate the country.EconomicSingapore is free market economy as well as the economy developing rapidly.
Singapore is ranked third place at World Economic Forum’s Global Competitiveness Report. 1878756307557However, Singapore has few ports to export and import is more than export that’s why labour cost is high, tourist is charged high price which lead to reduce in tourism of the country as well as the cost of living is high and this is really bid deal that Singapore government and businesses are dealing with.GDP-USD 222,872.48 millionUnemployment rate=2.2%Inflation rate=2.8%SocialSingapore follow the tradition family values and eastern country. However, nowadays residents follow western culture more than eastern.
All the residents work extraordinary hard and this lead to improve in productivity, which is one of the reason that Singapore is a developed country. Most of the students are forced to study in primary school with English and Chinese languages. This system reduce the communication barriers.TechnologyOne of the main reason behind the successful business and lifestyle is technological advancement.
Internet play a crucial role for Singapore advancement. This advancement make it easier for businesses to communicate as well as the time of conducting and cost reduced. Singapore government encourage more of IT infrastructure from multinational businesses.LegalSingapore is one of the lowest rate of corruption with perception index of 9.
2/10. Singapore is highly progressive country as income tax is 40%, 4% for individual. Even though income tax is high and why residents still choose to stay in Singapore? Because Singapore have the lowest GST or Good and Service Tax of 7% that’s why.Rules and regulations for businesses are done by E-commerce policy (EST 1998).EnvironmentSingapore take environment issue pretty seriously by introducing deforestation and water pollution (1992).Emphasis on recycling, optimum usage etc.
is encouraged as by nature the faces constraint in natural resources which includes even water.Singapore has one of the best solid waste treatment system in place.