There are many reasons as to why people choose to live and work in Singapore, one of which is because it is a large business hub in Asia. With the ample amount of residents, you would be surprised to know that Singapore experienced their slowest rise in residents during 2014/2015, totaling to 5.54 million residents. This 1.2% rise in growing populations was noted by the National Population and Talent Division.
The Population Breakdown
You can take a look at the total population in more specific terms. There are 3.38 million citizens of Singapore and .53 million permanent residents. With non-residents totaling to 1.63 million these individuals include employment pass holders, students, foreign domestic workers, S Pass holders and dependents of citizens, permanent residents, or people that hold work passes.
New Citizen Demographics
Around 20,000 new citizens were included in Singapore’s population in 2014. People aged 20 and under accounted for 37.5% of the new citizens, 27.9% belonged to people between the ages of 31 and 40, and 19.6% accounted for citizens over the age of 40 years old.
The Government’s Plans for Citizens
It’s the current objective of the government to try to take up to 25,000 new citizens on an annual basis to prevent the population of Singapore from shrinking. They also want to try to get over 30,000 new permanent residents on a yearly basis so that they can continue to increase their chances of converting most to become citizens of the country. This also helps to keep a stable population of permanent residents to contribute to the economy.
Births and Marriages
One aspect that is interesting to consider is the fact that more Singaporeans are getting married and having babies as the years progress, leading some to believe that the population should be growing rather rapidly. Last year the country saw the largest number of marriages in over 17 years, with over 24,037 citizens getting married. The births that occurred between citizens totaled just over 33,000, which is the same for the Dragon year, which was the most popular year for births in over a decade.
Increase in the Elderly
A concern that the Singapore government has in terms of their residents is the increasing number of elderly individuals, which is why they are working to increase the availability and affordability of health care to older generations. The total amount of residents over the age of 65 increased from 12.4% to 13.1%. This inevitably impacted the median age for Singaporeans, forcing it to rise to 40.7 years.
Increase in Foreign Employment
As mentioned, Singapore is known for their immaculate job opportunities for individual workers and business owners alike. This undoubtedly helped to increase the total amount of foreign workers that decided to move to and live in the country for job opportunities. The total amount of foreign employees and their family members increased 2.1%, totaling 1.63 million residents. Though this is a slower progression than in previous years, it is still a sign that Singapore has great opportunities for foreign workers.
About the Author
Morris Edwards is a content writer at companyregistrationinsingapore.com.sg, he writes different topics like “ Useful Tips For Singapore Business Start Up ”, Doing Business in Singapore and all topics related to Company Registration.
Singapore Company Incorporation Consultants Pte Ltd
Telephone: +65 66531211
Address: 10 Anson Road International Plaza #27-15, Singapore 079903