After this, I wish to conduct my due diligence to prove the hypothesis. This will also help me in the book that I intend to write.
Here's my hypothesis:
In the near future, most Singaporeans will become extremely wealthy, owning 10% of the world's wealth. They will own stakes in major companies overseas or own big companies themselves which are based overseas.
The main island itself will become a nesting ground for entrepreneurs and business leaders. The shift will be away from having manufacturing factories based here. Instead, collaborations with countries that own large areas of land will serve as a bridge to share profits from manufacturing industries.
Singapore will focus on sectors like services and education, she will become a hub where workers all around the world can come and train to become better equipped with skills that companies are looking for. She will become the one-stop consumer paradise, with shopping areas covering almost 30% of the land space.
Singapore's revenues will come from many different sources.
By planting entrepreneurial seeds and instilling loyalty in her citizens, Singapore can count on oversea citizens to contribute to her wealth fund by sending their earnings back into developing the country.
Business professionals that were sent overseas will also contribute in similar ways. As they strive for excellence, they will hold respectable positions in foreign companies and earn high income.
The shopping centers, casinos, hotels, resorts etc here will form another source of foreign income. Visitors will visit Singapore for many reasons like leisure, business opportunities, networking, studying, enjoying a high class experience etc. Service industries will play a major role in making visitors come back.
An on the surface explanation for the above hypothesis is fairly simple.
Singapore has limited land. Limited natural resources(un-cut-able trees, reusable water). All she has is people. The best investment and bet that the government has made was on its people. Education is one of the most focused area here.
Being small, it is impossible to be self sufficient. The water, the food and even the air comes from countries all around the world. So, its only reasonable to make full use of that inevitable fact, let wealth come from outside too. See: Country Ranking Table
Singapore cannot setup big factories enough to produce products that can sustain her economy. So, the best option is to not do it in here. Let her citizens go overseas and setup factories and at the same time allow the host country to benefit from it (many projects of industrial parks in China. Will research and post supporting evidence).
Singapore has also earned its reputation of being a safe country. Taking advantage of its weakness, which is size, the level of security could be greatly increased without expending too much resources. In doing so, it makes visiting Singapore as a holiday location or setting up a business headquarters an extremely good choice. We have the infrastructure, the ready workforce, the business friendly tax laws and sound fiscal policies. Its almost irresistible.
Singapore also takes care of citizens who do not have entrepreneur flair or the expertise to work overseas. By increasing the service industry, the work force can shift to compliment the influx of visitors. The job opportunities are so inexhaustible that we still need to import foreign talents to fill the gaps. This move not only ensures that every citizens will have an income, it also provided the space for local workforce to grow. Its always better to have a lot of jobs before having too many workers. Foreign talents can be reduced without too much hard feelings on everyone's part, agree?
The future is so bright! I can almost not open my eyes.
I welcome you to post your comments on this topic. It's interesting and it concerns your future(if you are a Singaporean). I'll back my hypothesis with already happening trends and developments and gather the statistics necessary. So, tune in.
Statistics And Facts Supporting My Hypothesis
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