Investors are always looking for the next economic hotspot, however, with turbulent conditions in Europe and the US, it can be difficult to find any place that is prospering. Singapore is quickly growing country in the south Pacific that has drawn lots of attention from travelers and is attracting serious foreign investment. Business Insider reveals to top three reasons wealth investors are flocking to Singapore:
Singapore is best in the world for business
Singapore is the best country in the world for doing business, according to a report released earlier this year by the World Bank. Here’s why:
- It takes, on average, three days to open a business.
- Trade is open and competitive: there are no tariffs on imports and foreign and domestic business are regulated equally.
- Unemployment is only 2.1%
It’s in the middle of Asia, which means it’s in the middle of some booming markets
Take Silicon Valley-transplant, and Bubble Motion CEO, Tom Clayton, who moved his start-up to Singapore after 2008′s economic downturn.
He told Business Insider that working in Singapore gave him great access to the nearby mobile markets of Indonesia, India and Asia (three of Asia’s biggest).
“We can take day trips or red-eyes to all of our core markets,” said Clayton.
Singapore has the fourth-hottest real estate market in the worldWhile Singapore’s real estate market may be the most expensive in Asia, it’s also one of the fastest-growing markets in the world with 5-year growth figures just over 50%. If you can afford it, you’re likely to make some decent money.