By 2030, Singapore’s population is projected to reach 6.5 to 6.9 million based on a government White Paper released on Tuesday.
This will comprise a resident population of 4.2 to 4.4 million, of which 3.6 to 3.8 million are citizens and the rest Permanent Residents. Non-residents will make up about 2.3 to 2.5 million by then.
To keep Singapore’s citizen population from shrinking, Singapore will need 15,000 to 25,000 new citizens each year, assuming the current total fertility rate (TFR) of 1.2.
About 30,000 new Permanent Residents (PR) is needed to keep the PR population stable at 500,000 to 600,000.
These figures were unveiled by the National Population and Talent Division in the widely-anticipated White Paper, which sets out Singapore’s population and immigration policies for the future.
The paper outlined three pillars for what it calls “a sustainable population for a dynamic Singapore”:
1)A strong and cohesive society
2)A dynamic and vibrant economy
3)A high quality living environment
This will be achieved through efforts to support the family unit, create good jobs for Singaporeans and build a liveable city for all ages, said the paper.
It noted that Singapore is at a demographic crossroads – with more than 900,000 people from the ‘baby boomer’ generation turning 65 from now till 2030.
This means that while today two citizens enter the workforce for every citizen exiting, this ratio will drop to 0.7 citizens entering to one exiting by 2030.
The recommendations set out in the paper are the numbers needed to keep the citizen population from shrinking, said the report.
I predict that older Singaporeans would move northwards to stay in “extended Singapore” in Iskandar Malaysia with this demographic shift, hence Property Prices have to keep moving Upwards! Do not stay inertia and starting saving for your retirement homes in Iskandar Malaysia, especially in Nusajaya while you can!