Singapore's trade-dependent economy suffered the worst recession in its history in 2020. The financial metropolis recorded a decline in GDP of 5.8 percent, as it became known on Monday. The government had predicted a minus of up to 6.5 percent.
The city-state in Southeast Asia has survived the pandemic comparatively lightly, among other things through the use of controversial surveillance measures. However, Singapore is particularly dependent on international trade, which is severely affected by the corona pandemic.
In order to give the economy new impetus, business travelers from all over the world are again allowed to enter Singapore from mid-January. Business travelers whose length of stay does not exceed 14 days are allowed to enter the country under strict conditions such as health tests and distance rules. At meetings with business partners from Singapore, room-high partition walls would provide adequate protection. In May, the World Economic Forum (WEF) also holds its annual meeting in Singapore, as a replacement for the canceled meeting at the end of January in the Graubünden ski resort of Davos.
