Chart of the Day: Singapore’s GDP per capita surged 30-fold in 30 years, thanks to LKY

It’s a hallmark in history. Lee Kuan Yew’s hard work and legacy for Singapore will continue to be a source of inspiration to many.According to a report by Macquarie Securities, in 1960, the first full year that LKY was Singapore’s prime minister, the city-state’s per capita GDP was US$428. By the time he left the PM’s office in late-November 1990, the island republic’s per capita GDP had increased almost 30-fold (29.8-fold to be more precise) in 30 years – to US$12,766. It was one of the most remarkable transformations -- and among the outstanding achievements -- in modern economic history. LKY stayed in government as Senior Minister and Minister Mentor for a further 20.5 years (until May 2011); during those two decades, Singapore’s per capita GDP increased another 4-fold to US$53,177 (in 2011) – for a spectacular 124-fold increase over 51 years. As the visionary founding leader of Singapore, LKY was instrumental in that transformation.

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