Singapore’s 3 Key Growth Ingredients in 2016

If you think Singapore is the best place to kickstart new ventures, probably you’re going on the right track. Hence, considering these three sectors predicted to grow extensively in the New Year would be significant for the entrepreneurs.

  • Information Technology

Singapore is already an established IT hub and hence will continue to attract major global players. Twitter established its headquarters here this year and Netfix is expected to open up its Asian regional hub here next year.

Singapore’s 3 Key Growth Ingredients in 2016

Singapore government recently launched Smart Nation with a vision to harness technology for improving the lives of its people and create more opportunities for businesses. The government has proposed to launch $2.2 billion worth of ICT tenders in digital, data and web services, and IT infrastructure in the upcoming year. Hence, the entrepreneurs should look closely at cloud computing, cyber security, data analytics, design, and a variety of other IT services.

  • Healthcare

Singapore is also expected to growth in the healthcare industry in the coming year. With the increase in Asia’s ageing population and demand for healthcare, yet another auspicious industry here is the med-tech. In 2015-2017, Asia Pacific med-tech industry is expected to grow at more than 10%. There are more than 100 medtech SMEs in Singapore currently, and the sector has grown from $1.5 billion in manufacturing output in 2000 to $5.5 billion in 2014.

  • Creative Industries

Entrepreneurs have an opportunity to become pioneers in high-tech creative economy as the Singapore government is encouraging a shift in sectors such as lifestyle, animation, game design, creative agencies, and sports.

Other emerging industries include education, finance and retail that too would experience great boost in 2016.

This featured post is posted by Apixel IT Support, Company founded in 2004, to deliver the highest quality services to businesses in Singapore.

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