A COMPARISON OF THE SERVICES SECTORS OF HONG KONG AND SINGAPORE

Abstract

In developed market economies, the GDP share of services is around two-thirds. In the case of developing market economies, it is about two-fifth. Since both Hong Kong and Singapore are city-economies, they have services sector GDP share that are much greater than the average developing economies. This study makes an attempt to compare the significance and vitality of the services sectors in both Hong Kong and Singapore. An overview of their services sector is provided in Chapter II to enable readers to have a general understanding of the services sector of both Hong Kong and Singapore in terms of their performance, prospects and competence. In Chapter II there are also brief discussions of each of the services industries. In view of the success of Hong Kong in developing herself into an international financial centre and the potential of Singapore in becoming one, their banking and financial sectors are focused on in Chapter III. Finally, the tourist trade, which is one of the major categories of services exports is analysed in detail in Chapter IV. It is hoped that readers will have a better understanding of the services sectors of Hong Kong and Singapore after reading this critique.