The Monroe Street Journal

Issue date: 10/21/02 Section: Features

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Despite a lack of natural resources, Singapore has become an important economic center in Asia, generating a GDP of $153.5 billion in 2001. It is one of the most highly developed countries in the region with immense information technology capabilities. Situated just 1 degree north of the Equator in Southeast Asia, the city-state of Singapore is a densely populated island with 4.1 million people living on an area of 683 square kilometers (or 263 square miles). Its population consists of diverse ethnicities, including Chinese (76.7%), Malays (13.9%), Indians (7.9%), and others (1.5%). Accordingly, languages spoken include English (almost everyone speaks English), Chinese, Malay, and Tamil, while religions include Buddhist, Taoist, Muslim, Christian, and Hindu. Attracting 7.5 million visitors in 2001, Singapore has become a popular Asian travel destination with its clean urban environment, lush parks, exotic zoos and aquariums, historical museums, modern office towers, diverse ethnic food and culture, shopping centers, rich nightlife, and its convenient location to the rest of Southeast Asia.

Singapore's name is derived from "Singa Pura" ("Lion City"), which was given in the 13th century by a prince from Palembang when he was shipwrecked on the island and saw a creature that he believed was a lion. Although Singapore's history dates back to the 11th century, Sir Thomas Stamford Raffles is credited with its founding in 1819 as a trading port for the British East India Company. Subsequently, Singapore was made a British Crown Colony in 1867, as part of the Straits Settlements, which included Penang and Malacca. In 1946, the Straits Settlements was dissolved and Singapore became its own separate British Crown Colony, while Penang and Malacca became part of the Malayan Union. In 1959, Singapore became self-governing and in 1963, it joined Malaysia…. temporarily. After a two-year period of friction with the central government in Kuala Lumpur, Singapore separated from Malaysia on August 9, 1965, and became the independent republic we know today.

But I'm sure you've had enough of the history and fun facts of Singapore by now and you're wondering: "What is Singapore really like?" I had the opportunity to visit Singapore for the first time and spend the summer there, along with 2 other classmates (Andreas Koese and George Wang), working for MVent (now called Blink), the Michigan MBA 2001 mobile payments startup**. I have to say that it was a great experience, professionally, culturally, and socially. Although, I had some experience traveling and working in Asia, I never found the time to visit Singapore before so I really had no idea what to expect before this summer.

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