When you think of Southeast Asia, it’s hard not to hear someone mentioning Singapore. For those who are unfamiliar, this little country, affectionately termed the little red dot (thanks to the dot representing its place on the global map) is an economic powerhouse. Focusing on the one resource it has in abundance - labour, the country has made rapid progress, transitioning smoothly from an industrial economy to a knowledge-based one. Today, Singapore has one of the most stable economies in the world and it is also one of the safest places to live, with historically low crime rates. With that in mind, here’s our nifty guide on why you should study finance in Singapore.
Fantastic schools
The Singaporean education system has been lauded as one of the world’s best by many within the finance industry, and a qualification from this country is recognised all around the world. If that’s not enough, Singapore is also home to campuses of well-known international financial schools such as INSEAD, University College Dublin (Kaplan Singapore Campus) and London School of Business & Finance (Singapore campus).
The country also boasts strong local universities such as National University of Singapore (NUS) and Nanyang Technological University (NTU). NUS came in 14th in the Times International University Ranking in 2016 for Accounting and Finance, while NTU is ranked 11th in the world in the QS World University Rankings 2018. Recently, the Singapore Management University (SMU) has also made strides in the global rankings, with a recent online survey showing that a large percentage of successful finance professionals in Singapore took a Masters in Applied Finance from SMU. All of these institutions offer robust, well-balanced programmes that can kick start your financial career.
Financial hub of Southeast Asia
The little red dot might be small, but the country sure packs a punch. Singapore is not only the banking and financial hub of Southeast Asia, it is also one of the globe’s major centres of finance. The country’s economy is highly regulated by the local government, and as a result rarely suffers from market fluctuations. Singapore’s foreign exchange trading centres are within the world’s top five, and financial business services make up over one fifth of the nation’s Gross Domestic Product (GDP).
This, together with the country’s strong infrastructure and stable government, has made Singapore very attractive to the big financial players around the world, many of which have chosen to make Singapore their Asian headquarters, such as Citibank, MasterCard, Standard Chartered Bank, UBS AG, J.P. Morgan, Rothschild & Co., Barclays Bank, KPMG and countless others.
Thousands of businesses and the world’s elite choose to set up accounts there, making it one of the leading private banking destinations in Asia. There are plenty of opportunities for you to carve out a career, too. Most universities have ties with the local financial industry and participating in an internship in any financial institution will give you the exposure that will come in handy in the future.
Demand for finance professionals
Singapore’s economy has been growing by leaps and bounds since gaining its independence from the British Empire. Leading the helm was late Minister Mentor Lee Kuan Yew (1923-2015), who opened the doors to international trade and played a major role in the successful and stable economy that the country has today. In 2007, Singapore’s financial sector grew by a whopping 16.9% and even today it does not show any signs of stopping. The country is always on the lookout for skilled professionals within the financial and banking sector to keep its competitive edge. With a friendly foreign talent policy, Singapore welcomes talented individuals from all over the globe to come and work.
So what are you waiting for? Check out the finance courses available in Singapore now!
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