Singapore is the largest port in Southeast Asia and the fifth-largest port in the world, measured by the tonnage of its shipping. In fact, it is known as the “Gateway to the Pacific.” Besides being a great bunkering point, its advantageous location makes it an important distributing center. Tremendous godowns or warehouses store goods that are brought from all over the world.
In short, the industrial growth of this small and new nation already began ever since back in the day. Yet, the devastation brought about by the global financial crisis a couple of years ago have shake the thriving IT and software industry in Singapore particularly offshoring.
As a matter of fact, a lot of offshore service providers in Singapore today are already feeling the effects of decreased margins and employee downsizing, while service buyers are reducing IT budget allocations for outsourcing engagements. Read more
