With the recent global financial recession taking place, many of the world’s leading countries’ economies fell drastically. While many were struggling to gain a foothold in recovery, the Turkish economy expanded by 9.2% in 2010 and by 8.5% in 2011. This solidified Turkey’s place as the fastest growing economy in Europe as well as one of the fastest growing economies in the world.
The technologically savvy and trade-oriented market economy of Singapore sports many positive characteristics in a struggling world economy such as the present. Some notable characteristics include being ranked as the most open economy in the world, the least corrupt, most pro-business, low tax rates, and the third highest per-capita GDP in the world (Purchasing Power Parity Index).
In this ever-evolving and technologically savvy world, it becomes harder and harder to stay true to traditional methods of payment. However, Germany is a slight exception in that cash is still considered king and often preferred in most cases.