Lucintel Forecasts Singapore Economy to Reach $342 Billion by 2018

Irving, TX, September 04, 2013 --(PR.com)-- Singapore has registered a remarkable economic growth during the last decade and is classified as a high income economy. The country’s economy is expected to reach $342 billion by 2018. Singapore’s economic growth is primarily driven by domestic demand and external demand, private consumption expenditure, and investments. The country’s major sectors such as petroleum refining and pharmaceutical industry have the potential to attract investments from other countries across the globe.

Lucintel, a leading global management consulting and market research firm, has conducted a competitive analysis on the various risks associated with the country and presents findings in “PESTLE Analysis of Singapore 2013.” The report studies the political, economic, sociological, technological, legal, and environmental analysis of Singapore.

Lucintel’s report indicates that Singapore’s economy is likely to face many challenges in its quest to become a modern, harmonious, creative, and competitive economy. Singapore suffers from moderate debt risk though the country is totally dependent on internal debt.The debt level has increased during the last decade. The country is also affected by high income inequality with high GINI coefficient.

The study describes that despite challenges Singapore has made optimum utilization of globalization towards benefiting its economy. The key strength of Singapore is its strategic location as it is an important cross road of the world. The country has well defined investment policies and support from government and industry associations which encourage free trade.

Singapore is among one of the fastest growing economies with its own strengths and weaknesses.This report analyzes the impact of different macro-economic indicators of the country on different industries. This also includes the impact of socio-political-demographical changes on different industries.This report analyzes domestic and external economic trends, government policies, technological changes and their impact.Singapore’s major strengths will be derived from its next phase of sustainable development

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