Singapore’s Gdp Will Grown Significantly If the Population Exceeds Six Million

In: Business and Management

Submitted By Studymum
Words 3777
Pages 16
Executive Summary

Prime Minister Lee Hsien Loong(2012) said “Singapore’s ideal population size? We can afford six million”.
Today’s Singapore population is over 5 million; heading into 6 million in the near future should not be a problem. Assurance from Prime Minister Lee Hsien Loong that Singapore can handle with such a rapid increase of population over decades. Singapore, a country area of 693 sq km (268 sq mi) is one of the world’ most densely populated states. A country with no natural resources but with a strategic port, strong government and its people. Ooverpopulation had been a great concern throughout the world at this stage, with population has crossed the size billion mark, so what effects overpopulation will have on a country’s economy?

Acting Prime Minister Teo Chee Hea (2012) said, “The country's population growth is key to achieving this vision. The vision is to build a better and brighter nation for all citizens. If we don't have a sustainable core Singapore population, we won't be able to sustain the kind of Singapore that we want in the future. That is a critical element of the Singapore in the future. The current birth rate is not enough for us to sustain our population or even maintain it at its current level. We want to be able to raise the population through encouraging births," he said.
This paper focuses on whether Singapore population growth can contribute to its economic development. And the impact on its GDP if population expected to exceeds 6 million mark. The findings in this paper will support the population-driven economic growth hypothesis which states that population growth promotes per capita income growth. We can conclude that whether an increase in population growth rate can lead to a benefit or detriment to the economic growth in Singapore.

Introduction

Economic performance in any country is, to a substantial…...

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