Singapore
Singapore’s workforce is rapidly aging, with slightly over half (53%) of the economically active residents aged 40 years or older, including 25% aged at least 50 years, up from 33% and 13% respectively in 1991. Correspondingly, the median age of the resident labour force rose from 34 years in 1991 to 40 years in 2007. Singapore is also facing growing and fierce competition from lower cost countries. To sustain economic competitiveness, there is a need for Singapore’s economic landscape to undergo a transformation where greater emphasis will be placed in developing and maximising the human capital. Read more...