Singapore is shining. And it will keep shining at least till 2050. According to wealth report 2012 released by Knight Frank and Citi Private Bank, Singapore was the “richest country per capita in 2010 and will remain at the top even as far as 2050”. By 2050, the report says, Singapore is expected to have a chart-topping GDP per capita of $137,710.
The city-state’s Gross Domestic Product (GDP) per capita— economic output divided by its population—was $ 56,532 in 2010. This put Singapore ahead of Norway and the US. The US comes in the third place with a GDP of $45,501.
The report also adds the US will go down to fifth position while Saudi Arabia will be among the top 10 occupying sixth position.
Explaining the reasons behind the prediction, the report says Singapore’s skilled workforce, business environment, openness to trade, capital mobility and foreign direct investment will give it an edge over other countries.
Meanwhile, according to the latest global rankings by the Union of International Associations (UIA), Singapore tops the international venue for meetings. The city has been placed above other developed Meetings, Incentives, Conferences and Exhibitions (MICE) countries such as the US and Japan, which ranked second and third respectively.
It is the first time the city-state has topped the host country category, with 919 meetings and conferences which met the UIA criteria. This has been 27 percent rise since 2010, when Singapore was in the third place with 725 meetings.
The meetings taken into consideration by the UIA include those organized and/or sponsored by international organizations which appear in the Yearbook of international organizations and in the International Congress Calendar. However, some national meetings with international participation organized by national branches of global organizations are also taken into account.
Meeting held in Singapore last year include International Airport Transport Association’s (IATA) World Passenger Symposium, the World Chinese Entrepreneurs Convention and the World Orchid Conference.