Singapore
I just got back to London after spending a little over a week in Singapore. Although I’d visited once almost 20 years ago when I was a child, I didn’t remember much, so this trip felt like my first time there. It’s a city that has left as strong an impression on me as any I have visited in recent years
The first thing one notices on arrival is the quality of the airport. Lee Kuan Yew, Singapore’s first Prime Minister, wanted the airport to reflect the image of the city. First impressions matter, and for most people who travel by plane, the airport is the first piece of Singapore they see. It’s a great first impression. There were virtually no queues at immigration when I arrived. Border agents are replaced with electronic gates that actually work. Baggage arrived promptly. I don’t think I’ve ever exited an airport so quickly after a long, intercontinental flight.
Transport in the city is top notch. The public transport system connects the city well, and is clean and reliable. I’ve rarely enjoyed taking public transport as much as I have in Singapore. There’s an abundance of car hailing apps one can use and if you just want to hail a cab from the street, you don’t have to worry about drivers overcharging. It’s illegal.
The city is generally very clean and architecturally diverse, but dominated by high rises. Despite that, the city doesn’t feel like a concrete jungle. There’s a lot of greenery along the sidewalks and other public spaces. I learned that the government subsidises the planting of greenery. I think that really adds to the aesthetic of the city.
The food is great in Singapore, with high-quality options from anywhere in the world. Food courts are a popular concept there. In contrast to food courts in the West, which are mostly made up of fast food chains in malls, food courts in Singapore are outdoors and feature quality independent street vendors. Our favourite was Jurassic Nest, but others worth checking out are Lau Pa Sat and the Newton Food Center.
On top of all the conferences in the city this past week, there was an F1 street race over the weekend. In spite of the large crowds the city pulled in and the road closures for the race, everything continued to run smoothly. An abundance of underground malls, walkways, and overground passes enables the city to flow even with a street race happening. I dare think of the chaos that would ensue if London were to ever organise a comparable race.
From a business standpoint, Singapore is flourishing. Low income and corporate tax rates, along with no taxes on capital gains, are attracting high-net-worth individuals from all over the world. Singapore is projected to have the third-highest net migration of millionaires this year.
Singapore is no longer just a regional startup centre, but a global startup hub with an extensive ecosystem of venture capital firms, angel investors and entrepreneurs. Some of the biggest startups to emerge from Singapore include Grab and Razer, and on the crypto side, Crypto.com, Matrixport and Nansen.
Of course, the drawback to life in Singapore is the loss of certain liberties we are accustomed to in the West. Singapore has multiple parties, but only one has ever been in power. Freedom of speech and the right to protest are curtailed. Recreational drug use is prohibited, and same-sex marriage is not recognised. Debating whether certain measures are right or wrong is for another post, but what I would say is that for people who value liberty above all else, Singapore is probably not the place for them. However, if you want to focus on building companies and wealth, Singapore seems like a great place.
One of the main reasons I personally wouldn’t consider moving to Singapore is that it's too hot. This was supposedly the coldest time of the year, but it was still too humid and hot to walk for long stretches outside. Walkable cities are non-negotiable for me when considering a place to live.
In summary, I enjoyed my time in Singapore a lot. It’s a city with a clear vision for its future, and I look forward to coming back soon.