With gross domestic product (GDP, 2006) of $ 137.5 billion and per capita income as high as $ 29,454, Singapore is one of the most affluent nations of Asia. Manufacturing and services are the main contributors to the economy of the country. While manufacturing sector accounts for over 20 per cent, service sector accounts for around 68 per cent of the GDP. A major supplier of electronic products and components, the island country is also a leader in shipbuilding and repairing.

With a population of over four million and thousands of visitors thronging in around the year, Singapore is a hub of retail activities in south-east Asia and has all the potential of becoming a global market in the years to come. Owing to a potential market and its open policy, Singapore attracts foreign investments in huge amounts. Local production of high-tech products such as personal computers (PCs) and consumer electronics is well developed and the country has an extensive export-oriented production base. Rich in heritage and culture, Singapore is a venue for international retail events like Great Singapore Sales (GSS) and Singapore Food Festival. Large numbers of retailers and consumers from all around the world participate in these events.

Retail scenario