Singapore recently climbed up one step on the ladder of national happiness. It now ranks 16 on the prosperity index which measure the economic health and general contentment of the population of countries. In the side area of economy, it also came out top, wining over traditional “happy” nations” like Switzerland, Norway et cetera. Every 9 out of 10 people in Singapore claimed to be content with their present living standards and expectations of the future were even optimistic! This has lot to do with the fact that setting up business in Singapore is relatively easy. Business opportunities in Singapore are abundant which is not only beneficial for the locals but also an attraction for foreigners. Locals can easily start a business in Singapore, which is major reason for their happy lifestyle.
Another economic survey from London based Legatum agency reviewed about 110 countries
in areas such as economy, individual liberties, health etc; eight indicators in all. The results
were just as great. Singapore has now become number 10, which 14 places up where it used
to previously! It overtook USA for the first time in history, being No. 52 on the ranking. The poll
takes into account economic measures like key economic policies and the performance of the
financial sector. Again, this was a result of the government’s continuous efforts to improve
business opportunities in Singapore.
China’s economy is rapidly growing, the report revealed, with most of citizens looking on to a
bright future. This also means increased business opportunities in Singapore. However, some
still are not satisfied with their present living standards. Other areas surveyed included safety &
security and governance. Singapore ranked 6th and 13th respectively, being one of the foremost
countries where citizens place great trust and confidence in their government and their
institutions. The citizens are especially happy with being able to start a business in Singapore.
The worst ranking part of the Country’s set-up was education in the survey. It ranked 51 in
sub-index. Though generally education levels are relatively good, the workers rarely complete
their education, and the less than 34% of the population actually thinks about receiving higher
education. This is also indicates towards the ease to start a business in Singapore. Other
weak areas included the personal freedom (ranking 30) and social capital (ranking 32). These
indicators negatively affect Singapore’s total ranking on these surveys.
As mentioned before, countries like Norway and Denmark are considered generally happy
nations. They came out on the top in the survey along with Australia. United States America
also ranked high, being No. 10, with excellent indictors in areas of public health and economic,
business environment. However, the people of America showed dissatisfaction and distrust in
the integrity of the polls, the federal government and the judiciary. These findings bought the
ranking of governance in USA.
Fareed Zakaria of CNN stated on Tuesday from Washington DC that America’s superiority
is declining because of the rise of other nations. If the country does not deal with it, future
rankings will reveal even negative trends. He said most of the measures would have to be
made on the governmental level which would include harsh short term endeavourers. He said
they are facing a political crisis and not an economic one.
One of the most positive features of this poll was that it showed the positive economic
performances of the many nations of the world. According to this survey, since the year 2009,
87 countries out of the sample of 110 have seen a rise in their happiness ranking. This is despite
of the recession that took place around the globe.
It also good to see that business opportunities in Singapore remain positively high.