What initiatives and projects could the Integrated Resorts adopt that would not just ring in revenue and profits but also create positive spin-offs fo

The Integrated Resorts in Singapore is an economic development gamble and the odds are high for an economy that was premised on a growth model that is based on the export of initially labor-intensive manufactured goods to world markets. This is to be followed by a move up the technology and value-added supply chains as comparative advantage shifted.



This “shifting sands” syndrome caused Singapore to re-look at its obvious small size and to see how we can diversify out of export manufacturing and into high-value services. Singapore strives in a free- trade environment with free capital flow in the cross-roads between developed countries in US, Europe and Asia and the developing countries. The Integrated Resorts, by themselves cannot be reasons enough to spur the entire service industry in Singapore supplanting the export manufacturing contribution to our economy. The benefits of the IRs are not simply the gaming taxes it generates but instead the direct and indirect multiplier effects – of bringing the rich from around Asia and the region to Singapore, increasing the quality of life quotient, having more entertainment formats (world best tax free shopping experience, all-year Best World Food Fest) and improving mass tourism. High-end goods and services can take Singapore as their destination in Asia since Singapore can have a good catchment of the rich and appeal to the mass-market of Asia. The region's rich come to Singapore because it is safe, secured and predictable. High-end properties and the marina bays will be in high demand.



Free flow of wealth in the region can be magnetized and gravitated to Singapore and this will enhance the wealth management services. In all, Singapore can be the center of money game – whether it is gaming, risk management, exotic financial and structured products, venture capitalism, it is where money management chain take center stage. Whichever growth model, the light will be cast on the IRs in the next 2 years to see how it can be the catalyst for the multiplier growth effects in Singapore.