July 16th, 2012
07:20 PM GMT
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Editor’s note: Outlook is CNN's in-depth look at business climates around the world. To August 12, 2012, we’re focusing on Singapore.

Singapore (CNN) – It is 47 years since Singapore became an independent city state and a swamp was transformed into an economic powerhouse.

Fostering a sense of identity among Singaporeans was key to its early development, which is why city planners in the 1960s made public housing a priority, giving 80% of the population a place to live.

Today the building continues as the trading port, once an important stop on the Silk Route, is one of the three busiest in the world and welcoming more shipping each year.

If trade and a maritime history have made Singapore what it is today, the city’s planners are already looking to the future and other industries to keep its economy in check. Tourism has joined hi-tech and precision manufacturing as priorities for the government with long-term plans for growth.

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Filed under: Outlook Singapore


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