Singapore – Financial Powerhouse
I’d just landed from an 18 hour flight. I was tired and grumpy and had to prepare for meetings the next day.
Immigration, customs, into a cab . . . it was all a blur and my trip had barely begun. I started with a flight down to Los Angeles to connect with a United Airlines flight to London. A cab at London Heathrow quickly deposited me at my meeting. We had just raised $300 million for a client in the software industry.
Five hours later I was in another cab, back to the airport for another flight. My next destination was Asia. I was only 48 hours into my 2 week trip and was already exhausted. I don’t sleep well while traveling . . . planes, trains, boats, it doesn’t matter . . . I was exhausted. So much for the glamorous life of an investment banker.
Getting comfortable on the road is no small feat. I’d been forced to become an expert at it. The career I had chosen demanded travel and lots of it. Most hotels and trips are forgettable. This trip was different.
I arrived at the hotel and checked into my room. I noticed that the staff seemed to know who I was before I even stepped out of the cab. Check in was speedy and the room was immaculate. Every day I was greeted with fresh local fruit. The staff was attentive and seemed to be a step ahead of my every need (pampering me like never before). This was truly top-notch hospitality.
All at about half the cost of a room in New York.
Now, it didn’t stop at the hotel. The entire city seemed to be focused on first class service. Door men, cabbies, bartenders, waiters, everyone seemed to be going the extra mile. Polite service and helpful suggestions were the rule not the exception.
The business dealings were more of the same. Everyone spoke English and as I later found out, the workforce is the most educated in the world. The social customs were a perfect blend of East and West, in my opinion. As I was boarding my plane a few days later I knew one thing was certain:
Though I had never been to Singapore, I knew I would be back.
Singapore is a hidden Gem in Asia. It’s a tiny island only 270 square miles. The infrastructure of the entire country is meticulously maintained. Low tax rates and even lower crime and corruption rates make this a great place for business. The country has no natural resources to speak of but does have is location. The Singapore shipping port is smack dab in the middle of China, India, and Australia. A perfect location to capture international trade.
The government has used their considerable resources to build not only the shipping industry but also expand into electronics, technology, and finance. This little country has become a financial powerhouse and as Asia grows so will Singapore.
I think a safer way to play the growth in China and India is to invest in Singapore. While many companies on the Singapore exchange are great, only a handful trade ADRs here in the US. Unless you’re set-up to trade internationally, buying these companies may be difficult. I have an easier way. Take a hard look at the iSharesMSCI Singapore Index Fund (EWS).
This ETF provides great exposure to the growth of the country. I know of no better way to invest in the world’s best place for business.
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Category: Foreign Markets
