Singapore City history

This tropical tip of the Malay Peninsula was settled in 1299 by a Malay Sultan, who built a palace at Bukit Larangan (now Fort Canning). Five centuries later, in 1819, globe-trotting adventurer Thomas Stamford Raffles claimed Singapore for the British East India Company, and the foundations of one of the world's most prosperous trading centres were established.

Since becoming an independent Republic in 1965, Singapore has enjoyed a vigorous free trade policy, as introduced by its then Prime Minister (now Minister Mentor) Lee Kuan Yew. This led to an unprecedented rise in the standard of living and exponential economic growth.

The economy and tourist industry have enjoyed robust health though Singapore's economy was dented between 2001 and 2003, during the global recession. It rebounded to grow steadily through the bullish early-21st century. Despite falling into recession in late 2008, many analysts believe Singapore is capable of rebounding once more.