1. Economic Futures Mr Moore
Singapore Program 2015
Economic Futures Mr Moore

2. Agenda
Introduction
Australia & Singapore’s Economic Pasts
Trends & Challenges
Australia & Singapore’s Economic Futures
Q & A

3. How can we secure our economic futures?
so far so good
high expectations
highly competitive global economy
future population(s) growth, but:
jobs?
industries?

4. Singapore’s economic past
small footprint, limited natural resources
a highly developed trade-oriented market economy:
the most open and least corrupt in the world
the third highest per-capita GDP in the world
revenue sources:
exports (electronics, chemicals and services)
the regional hub for wealth management
the Port of Singapore is the second-busiest in the world by cargo tonnage (Wikipedia)

5. Australia’s economic past – “the lucky country”
the Australian economy is
dominated by its service sector
(tourism, education,
financial services),
comprising 68% of GDP
Sustainability?
the total mining sector is 19% of GDP
20 years of economic growth!
Australians boast the highest median individual wealth in the world
(Wikipedia)

6. Trends & challenges
Manufacturing closures
Continued off-shoring
Population growth, city growth (but how will newcomers cope? jobs?)
We’re living longer (refer 2014 Ageing project, 2015 Intergenerational Report)

7. IBISWorld predictions (Australia)
Industry (gains)
Employment Growth (%)
Organic Farming
3.1
2.0
6.2
11.2
Investment Banking & Securities Brokerage
3.0
5.0
7.0
10.0
Mining: Nickel Ore / Iron Ore
-19.6 / 2.9
2.0 / 4.9
1.5 / 6
9.6 / 7.7
Online Information Services
3.6
7.1
Child Care Services
0.2
4.3
5.1
6.1
Veterinary Services
1.5
4.0
Financial Planning & Investment Advice
-2.4
-1.8
4.2
4.1
Accounting Services
-1.6
2.9
General Hospitals
3.5
Biotechnology
1.8
1.6
3.2
Industry (losses)
Employment Growth (%)
Image Processing and Printing Services
-8.1
-7.1
Internet Service Providers
-1.4
-4.5
Computer and Related Equipment Manufacturing
-3.8
-4.0
Motor Vehicle Manufacturing
-0.3
Recorded Media Manufacturing and Publishing
-4.2
-3.0
Satellite, Television and Radio Relay Operations
-2.9
-2.8
Tobacco Product Wholesaling
-2.7
Food Processing Machinery Manufacturing
-2.5
Leathergoods Retailing
-1.6%
-2.5%
Automotive Parts and Accessories Manufacturing
-1.4%
-2.4%
Wired Telecommunications Carriers
-2.3%

8. Singapore’s industries & jobs of the future
Singapore Economic Development Board (
Singapore has taken measures to promote innovation, encourage entrepreneurship, re-train her workforce, and even attract foreign talents
(Wikipedia)
Unfair competitive advantages (UCAs), SWOT analysis?
Singapore-based Multinational Corporations (MNCs)
What can Singapore learn from Australia?
Your ideas?

9. Australia’s industries & jobs of the future
Government: (australia.gov.au, ABS, Dept Industry)
Sustainable budgets
Reduced R&D spending … but a medical research fund
Conducive business conditions (market economy)
Growth industries
Economic growth - mining & agricultural sectors, products [/services] mainly exported to East Asian markets (Wikipedia)
Employability – education, attributes & skills (mccrindle.com.au)
Unfair competitive advantages (UCAs), SWOT analysis?
What can Australia learn from Singapore?
Your ideas?

10. Summary
Introduction
Australia & Singapore’s Economic Pasts
Trends & Challenges
Australia & Singapore’s Economic Futures
Q & A

11. How can we secure our economic futures? Mr Moore
Singapore Program 2015
How can we secure our economic futures?
Mr Moore