Singapore, officially the Republic of Singapore, is a sovereign island city-state in maritime Southeast Asia. The country's territory is composed of one main island, 63 satellite islands and islets, and one outlying islet, the combined area of which has increased by 25% since the country's independence as a result of extensive land reclamation projects. It has the second greatest population density in the world.
Singapore has a highly developed market economy, based historically on extended entrepôt trade.
The Singaporean economy is regarded as free, innovative, dynamic and business-friendly. For several years, Singapore has been one of the few countries with an AAA credit rating from the big three, and the only Asian country to achieve this rating. Singapore attracts a large amount of foreign investment as a result of its location, skilled workforce, low tax rates, advanced infrastructure and zero-tolerance against corruption. It is the world's most competitive economy, according to the World Economic Forum's ranking of 141 countries, with the 2nd highest GDP per capita. There are more than 7,000 multinational corporations from the United States, Japan, and Europe in Singapore. Roughly 44 percent of the Singaporean workforce is made up of non-Singaporeans. Despite market freedom, Singapore's government operations have a significant stake in the economy, contributing 22% of the GDP. The city is a popular location for conferences and events.