The manufacturing sector in Singapore is the biggest contributor to the country's GDP, with electronics and chemicals as its top industries. Other key industries include engineering, IT, and biomedical sciences. Singapore relies heavily on foreign workers for economic growth, as expats compose half of the service sector.
Although cost of living in Singapore is expensive (tenth in the world and third in Asia), this fact is being offset by a number of benefits given by the government to further boost the country's economy. With a GDP growth of almost 18% in the first half of 2010, the strategy seems to be working very well.
Business Etiquette
Business people in Singapore observe a highly professional working demeanor. In a meeting, most Singaporeans want to get down to business at once- there is no real need to exchange pleasantries, unless shown by your counterpart first. An individual seeking professional growth will not have a hard time when working in Singapore.
In order to work in Singapore, you must have one of two required documents: A work permit or an employment pass. The main difference between the two permits is that the former is for those whose basic monthly salary is S$2,500 or less; while the latter is for those with higher basic monthly pay.
Business Hours
The regular workweek runs from Monday through Saturday (half-days on Saturdays) and has a ceiling of 44 hours, but a five-day workweek is becoming popular to give way to more leisurely activities on weekends.
Living in Singapore does not come cheap, but to live in a rapidly advancing country where opportunities abound and crime is near non-existent, many expats consider the benefits to strongly outweigh the downsides.
