Singapore’s Next S-Curve
Value is always relative and this also applies to the value proposition of the Singaporean workforce.
In the 1980s and 1990s, and even the early 2000s, Singapore’s workforce was comparatively “better” than the workforce of our neighbors as Singaporeans were better educated. Thus, even as Singapore was more costly in terms of rentals and manpower, the delta that our workforce provided employers continued to make economic sense for MNCs to base their operations here.
