Singapore’s economy looks upbeat

Singapore’s 2013 economic growth was revised upwards from 3.7% to 4.1%, thanks to a last-minute surge in manufacturing. Does this portend better times to come? Leon Perera, Chief Executive Officer of Spire Research and Consulting, shared his views on Singapore’s economic performance on Channel NewsAsia – Business Central

Perera commented that Singapore’s economic growth exceed expectations and this reflected an improving climate for exports, mainly driven by developed country growth. This would last into 2014 because of the on-going recovery in the US, improvements in Northern Europe, the momentum from Abe-nomics in Japan and a still-respectable showing from China.

On the other hand, the domestic retail sector was losing some ground. Perera shared that this was partly due to a slowdown in tourist arrival and spending growth, as a result of slower growth in regional economies like China and India. In contrast, the wholesale market will see some forward momentum on the back of a stronger export sector in 2014.

While Singapore’s financial services sector was a strong engine of growth in 2013, Perera explained how the sector’s growth would weaken in 2014 as a result of an outflow of offshore funds to the US and a cooling property market depressing mortgage loan growth.

https://www.spireresearch.com/newsroom/media/singapores-economy-looks-upbeat/

Comments

Side Click: Are you under the surveillance camera?

Identifying VIPs with strong purchasing power is crucial to retail success. More often than not, retail staff fail to do this in time. Facial recognition technology can help prevent this. But does it put our privacy at risk? With high-spending customers making out-sized contributions to retail profitability, it is increasingly crucial for retailers to provide personalized customer service the minute a VIP customer sets foot in the store. For instance, Katie Holmes reportedly spent USD100,000 on a fashion makeover and USD14,200 on lingerie alone in 2012! This is where identification technology can play a role. NEC, a Japan-based ICT vendor, has developed an identification application based on a facial recognition system – comparing the individual’s facial features against its database, and sending prompts when a match is identified. The initial purpose of the application was to help identify terrorists and criminals , but it was subsequently adapted to the retail setting....

Congestion stops traffic in SEA’s megacities

44 million people are being added to Southeast Asia’s urban population each year. As motor vehicle populations keep doubling every 5 to 7 years, what measures are being taken to tackle traffic congestion? Japnit Singh, Senior Director, Singapore and India of Spire Research and Consulting shared his insights in China Daily – Asia Weekly. Southeast Asia’s middle-class continues to boom, fuelling car population increases despite the relative lack of infrastructure. According to the Asian Development Bank, the region’s major cities suffer from some of the highest air pollution levels globally – as much as 80 per cent being attributable to road transport. Singh cautioned that building roads is not a solution, as this region faces severe practical limitations and escalating costs due to shortage of land in urban areas. In Bangkok for example, roads have the capacity for two million motor vehicles whereas five million ply the city’s roads each day. This has led to the military g...

The Philippines - Asia's next economic powerhouse

The Philippines is emerging as one of Asia’s most dynamic economies, with a forecasted growth rate of 6.9 per cent in 2018 driven by investment and private consumption. The economy recorded growth of over 6 per cent in 2017, for the sixth straight year, thanks to buoyant government spending, exports and a recovery in the agricultural sector. Will this Southeast Asian tiger be able to maintain its momentum? A growing economy While advanced economies like the United States, Europe and Japan are growing at slow rate, a number of emerging economies like the Philippines continue to surge ahead. With annual growth expected to reach 6.9 per cent by 2018, the Philippines now ranks as the 10th fastest growing economy globally. Owing to strong domestic demand and government projects, the country’s economy is on the rise. The government’s expansionary fiscal policy has aided capital formation and credit growth, whereas low inflation has strengthened private consumption. Path...

Ghana citizenships to boost economy

In November 2019, 126 African-Americans and Afro-Caribbean’s were granted citizenship, in a ceremony that marks 2019 as the Year of Return. 500,000 tourists are expected to visit Ghana during the Year of Return, a considerable increase from the 380,000 that visited in 2018. Visa on arrival for some and waive off of Visa charges have been introduced. The government also plans to invest in educated returnees to help boost the economy through employment. Is investment in human capital the way to boost Ghana’s economy? Read more: https://www.spireresearch.com/newsroom/spirethoughts/ghana-citizenships-to-boost-economy/

Is a Korean peace treaty on the cards?

The historical and unprecedented meeting between the two leaders of Korea is a monumental development. Can both leaders use this opportunity enhance geo-political stability and open up new economic development possibilities? Leon Perera, CEO of Spire Research and Consulting, shared his thoughts in The Business Times – Views from the Top section on 7 May 2018. Marking a remarkable change, the unprecedented meeting between the leaders of the two Koreas underlines the possibility of a peace treaty and denuclearization agreement. However, Perera expressed scepticism about North Korea’s commitment to completely renounce nuclear strike capability against Japan and South Korea, since this is the only factor ensuring regime survival. World leaders need to take this chance to limit the North’s nuclear capability while accepting that it may never be completely voided, bring the North into the global framework and work towards economic development on the Korean peninsula. Read...

The Knowledge to Decide

Search This Blog