Economic Impact Of Ir In Singapore Tourism
Economic Impact Of Ir In Singapore Tourism

Economic Impact Of Ir In Singapore Tourism

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  • Pages: 6 (2906 words)
  • Published: October 8, 2017
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An integrated resort is a casino-based holiday resort in Singapore, by now there are merely two incorporate reso

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rts with the licences in Singapore, Marine Bay Sands and Resorts World Sentosa. Since the early 2010, these two integrated resorts set to get down operations. In a long history, casinos were illegal by the Singapore authorities. Until the twelvemonth 2005, the Prime Minister of Singapore Lee Hsien Loong claimed the determination to develop two incorporate resorts in Marina South and Sentosa. Harmonizing to the proclamations, the purpose of this undertaking was to hike Singapore ‘s touristry industry and the two incorporate resorts were expected to make 35,000 occupations, for Singapore was confronting the intense competition from the nearby finishs, such as Hong Kong and Bangkok. In add-on to this, the casinos in the adjacent Malaysia took off many tourers from Singapore, a immense crisis for the Singapore touristry industry.

At the same clip, the program of constructing the casinos was capable to the public argument and unfavorable judgment among the Singaporeans. The public worried about the negative impact of the casino gaming, which would take to the hazard of compulsive gaming, even the money laundering, the loan sharks, and the organized offense. In the long tally, it would hold a negative impact on the Singapore society and the development of economic system. In order to restrict the negative societal impact, the Prime Minister Lee Hsien Loong, capable to s important political hazard, promised that some limitations as the precautions to restrict the negative impact. Till the twelvemonth 2006, the determination of developing two casino-based incorporate resorts became an established fact in Singapore. The Singapore authorities called for a request-of-concept of the incorporate resorts, and cardinal industry participants were invited to subject the proposals. In the terminal, Las Vegas Sands was the victor of Marine South and Genting International got the command of Sentosa Island in 2006. The old ages from 2006 to 2009 were the building period of IR ( Singapore statistics, 2012 ) .

1.2 Impact of IR in Singapore

The two incorporate resorts set to get down operations since the early 2010, now there are 3 old ages. The impacts of incorporate resorts on Singapore can be evaluated by

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the casino public presentation in the three old ages. PESTEL theoretical account bases for political, economic, societal, technological, environmental, and legislative factors, which can be used to measure the impacts of incorporate resorts on the Singapore society. In a word, the casino-based incorporate resorts have positively attracted more and more visitants and created a batch of occupations. On the other manus, the negative societal impacts of the casino economic system truly exist in the Singapore society in these three old ages.

1.2.1 Economic impact of IR in Singapore

As described above, the authorities promised that the incorporate resorts would hike the Singapore ‘s tourer economic system. In the twelvemonth 2011, the one-year growing in retail gross revenues at changeless monetary values reached 2.2 % , visitant reachings stood at 13 million, and hotel tenancy rate arrived at 86.4 % ( Singapore Statistics, 2012 ) . The visitant reachings are on upward tendency. It can be inferred from the figure that one obvious twelvemonth for the growing is in 2010, and in the twelvemonth 2011 it remained the upward tendency. In add-on, the one-year growing of Gross Domestic Product kept 4.9 % . Preliminary touristry grosss for 2011 were estimated at $ 22.2 billion. Economic figures demonstrated that two incorporate resorts attracted more and more international visitants to hike the touristry industry.

Fig 1 Visitor Arrivals

Beginning: ( Singapore Statistics, 2012 )

Fig 2 Real Economic Growth

Beginning: ( Singapore Statistics, 2012 )

1.2.2 Social impact of IR in Singapore

The societal impact of IR in Singapore can mention to the offense rate. As shown in Fig 3, it can be inferred that the offense rate went down since the twelvemonth 2005. The negative societal impact of the casino chancing in Singapore may take to the compulsive gaming, the money laundering, the loan sharks, and the organized offense ( Eunju et al. , 2010 ) . However, the offense rate figures illustrated that it was non true in Singapore. More surprisingly, the offense rate was dropping down in these old ages. It is evidently non plenty to judge that there is no negative societal impact of the casino chancing in Singapore. The impact on the society may be elusive.

Fig 3 Crime Rate in Singapore

Beginning: ( Singapore Statistics, 2012 )

1.2.3 Technological impact of IR in Singapore

This is the first clip that casino-based career resorts developed in Singapore. Not limited to the gambling industry, many related industries have been greatly improved in Singapore, such as the building industry and the cordial reception industry. In add-on to the casinos, there are other comfortss including hotels, eating houses, theaters, subject Parkss, museums and subject Parkss, shopping and convention centres. As shown in Fig 5, the edifices of Marina Bay Sands become one of the most of import landmarks in Singapore, which is equipped with a sky park and an eternity pool that tops the Marina Bay Sands hotel towers. It can be inferred that the technological development in the building industry and the cordial reception industry made great advancement.

Fig 4 Marine Bay Sands

Beginning: ( Marine Bay Sands, 2012 )

1.2.4 Legislative impact of IR in Singapore

Due to the development of

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