At the Crossroads of Asia
It has been Singapore's fortuitous geographic location which has determined its developmental path over the centuries. The city was originally built up as a convenient port for handling goods in transit between Europe, Asia and China. A huge boost to Singapore's trade came with the opening of the Suez Canal in 1869. A huge variety of different goods and cargoes traveled from South East by way of Singapore's wharves and warehouses, where they were sorted and batched up for delivery to Europe.
In many ways this historic trading role of Singapore continues unabated to the present day. But now Singapore is not only a transit point for cargo, but also for tourists, and for high-tech goods. The city is home to a large number of trans-national corporations, finance houses and banks. Singapore regularly features at the World Number One rating spot for the ease of setting up and doing business there, and for the absence of corruption in its business community.