ABSTRACT
The island nation of Singapore has experienced phenomenal economic growth over a relatively short history of 50 years since its independence in 1965. Much has been said about the work of its founding father, the late Lee Kuan Yew, to whom many have attributed Singapore’s transformation from ‘mud-flats to metropolis’ (Chua, 2015). From a per capita GDP of US$516 in 1965, Singapore today has a per capita GDP of US$56,286, ranking 7th in the world, after Qatar, Norway, Macao SAR (China), Australia, Denmark and Sweden (The World Bank, 2015).
