Singapore, officially the Republic of Singapore, is an island country off the southern tip of the Malay Peninsula,. Singapore is the world's fourth leading financial centre and a cosmopolitan world city, playing a key role in international trade and finance. The port of Singapore is also amongst the top five busiest ports in the world.
Singapore is a country with a long history of immigration. It has a diverse population of close to 5 million people made up of Chinese, Malays, Indians, Asians of various descents and Caucasians. 42% of the population in Singapore are foreigners who work and study there. Foreign workers make up 50% of the service sector in Singapore. The country is the second most densely populated in the world after Monaco.
Prior to independence in 1965, Singapore was a vibrant trading port with a GDP per capita of $511, the third highest in East Asia then. After independence, foreign direct investment and a state-led drive for industrialization based on plans by former Deputy Prime Minister Dr. Goh Keng Swee created a modern economy.
The Economist Intelligence Unit in its "Quality-Of-Life Index" ranks Singapore as having the best quality of life in Asia and eleventh overall in the world Singapore possesses the world's ninth largest foreign reserves