Every year lakhs of tourists like to go abroad. Singapore is also one of them. Indians do not only go to Singapore for tourism, but a large number of Indians also go here in search of jobs and business. But do you know that the Singapore which is attracting the whole world today, was once a very poor country. Yes, today we will tell you how Singapore has reached the category of the richest country from the poorest.
Singapore
Today people from many other countries including India like to visit Singapore. Apart from being a tourist place, Singapore is now counted among the richest countries. It is worth noting that the Prime Minister of India Narendra Modi also visited Singapore recently.
History of Singapore
Let us tell you that when Singapore became independent in 1963, there was a lot of poverty here. Like other Asian countries, Singapore was also a British colony for a long time. But when Singapore became an independent country, it rapidly took its country towards development. The credit for the position that Singapore has reached today goes to its first Prime Minister Lee Kuan Yew.
Singapore is the most prosperous country today
Now Singapore is counted among the richest countries. Every sixth family here is a millionaire. In terms of GDP per capita, it is ahead of superpowers like UK, France and America. It is estimated that by 2030, this country will have the highest number of millionaires in the world.
How Singapore changed
As the world economy grew, Singapore also moved forward towards development. During its first two decades, Singapore’s economy grew at a rate of about 10% per year. Earlier Singapore used to trade spices, tin and rubber, then it also started doing business in pharmaceuticals. By 1975, Singapore had established a large industrial base. The share of manufacturing in GDP increased from 14% in 1965 to 22%.
People are rich in Singapore
Today, most people in Singapore are rich. According to the Singapore government, by 2023, the percentage of people who will buy their own house in Singapore is 89.7 out of 100. According to experts, very soon this figure will reach 100 percent and in a few years, the number of millionaires here will be the highest compared to almost all other countries.
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