A city-state Singapore is located in Southeastern Asia. The city with well-developed free-market economy is the focus for Southeastern Asian sea routes and has the busiest port in the world. Singapore is considered to be number one country in the world for ‘Trading across Borders’ due to open market, open port, and favourable conditions for foreign investors. All the mentioned above provide the opportunities for successful development of franchise businesses in the city.
There are also some drawbacks, for example, Singaporeans are among the highest paid employees in the world (the average monthly net salary is S$3,557) and the franchise fees are rather high, about S$50,000.
Franchising in Singapore contributes more than S$8 billion to the economy. 500 different types of franchises deal with food, healthcare, education, training, business services and retail.
The market is saturated with international franchises. United States is the leader of the market but many other successful franchise companies from Malaysia, China and European countries operate in Singapore.Browse franchise List in Singapore
Currency: Singapore dollar
Education Index (2013): 0.768
Official languages: English, Malay, Mandarin, Tamil
Per capita GDP (PPP): $90,724
Quality-of-life index (0-10): 8.00
Population: 5.607 mln
Total GDP (PPP): $508.449 billion
Ease of Doing Business Ranking, Rank: 2
Human Development Index (HDI): 0.925