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Singapore, officially the Republic of Singapore, is anisland country located at the southern tip of the Malay Peninsula. It consistsof 63 islands, including mainland Singapore, and lies 137 kilometers(85 mi) north of the equator, south of the Malaysian state of Johor andnorth of Indonesia's Riau Islands. At 707.1 km²(273.0 sq mi), Singapore is one of three remaining true city-statesin the world. It is the smallest nation in Southeast Asia. Singapore has atropical rainforest climate with no distinctive seasons. Its climate ischaracterized by uniform temperature and pressure, high humidity, and abundantrainfall. The population of Singapore is approximately 4.59 million.

Since independence, Singapore's standard of living has beenon the rise. Foreign direct investment and a state-led drive toindustrialization based on plans drawn up by the Dutch economist AlbertWinsemius have created a modern economy focused on electronics manufacturing,petrochemicals, tourism and financial services alongside traditional entrepôttrade. Singapore is the 6th wealthiest country in the world in terms of GDP percapita. The small nation has foreign exchange reserves of more than US$177billion. Singapore has a highly developed and successful free-market economy.It enjoys a remarkably open and corruption-free environment, stable prices, anda per capita GDP equal to that of the four largest West European countries. Theeconomy depends heavily on exports, particularly in consumer electronics andinformation technology products. The government hopes to establish a new growthpath that will be less vulnerable to the global demand cycle for informationtechnology products - it has attracted major investments in pharmaceuticals andmedical technology production - and will continue efforts to establishSingapore as Southeast Asia's financial and high-tech hub.

Singapore has been rated as the most business-friendlyeconomy in the world, with thousands of foreign expatriates working inmulti-national corporations. The city-state also employs tens of thousands offoreign blue-collared workers around the world. The manufacturing industry iswell-diversified into electronics, petroleum refining, chemicals, mechanicalengineering and biomedical sciences manufacturing. In 2006, Singapore producedabout 10 percent of the world's foundry wafer output. Singapore is the busiestport in the world in terms of tonnage shipped. Singapore is the world's fourthlargest foreign exchange trading centre after London, New York City and Tokyo.Singapore is a popular travel destination, making tourism one of its largestindustries. About 9.7 million tourists visited Singapore in 2006.

Singapore’s property market took off last year. Theresidential property price index rose by 31.2% in 2007, after 2006’s 10.2%rise. However, prices in prime districts rose by considerably more. Foreignersface certain restrictions in Singapore. Since July 19, 2005, under theResidential Property Act, foreigners can now buy apartments in buildings ofless than six stories without prior government approval. However, foreignerscan still not purchase vacant land and landed properties without permissionfrom the Singapore Land Authority. Non-residential property is not subject tothese ownership restrictions.