...GLOBAL DESTINATION COMPETITIVENESS TOURISM POLICY REVIEW SINGAPORE CARAN MORE 13036630 ABSTRACT The tourism management of Singapore has changed a lot over the period of time. The implementation of different policies and methods of promoting tourism in Singapore at domestic and international levels has brought the social and economical changes to the country. The issues of tourism development in Singapore need to be reviewed as they relate to the socio economic conditions of the country. This policy review paper will look at the different tourism policies of Singapore after the independence of the country. It will also look at the different responses the country received with applications of these policies over the period of time. Lastly it will look at the future of Singapore with regards to the future prospects, opportunities and challenges related to the tourism development of the nation. INTRODUCTION The management of Singapore has to be able to blend in with the social and economic environment of the world. Thus the policies and strategies of the country has been largely been co related to the global trends and also to the changing domestic factors. After Singapore attained its independence in 1965 there was a great growth in its tourism caused by the introduction of new technologies in the country, which improved transportation and communication (Teo, 1994). It became cheaper...
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...Introduction Singapore- officially the Republic of Singapore, is a Southeast Asian island city. Singapore was founded as a British trading colony in 1819. It joined the Malaysian Federation in 1963 but separated two years later and became independent. Though physically small, Singapore is an economic giant. Singapore has been Southeast Asia's most modern city for over a century. Singapore has a highly developed and successful free-market economy. Since independence, Singapore is the world's fourth leading financial centre, and its port is one of the five big ports in the world. The economy depends on exports and refining imported goods, especially in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services. Real GDP growth averaged 8.6% between 2004 and 2007. In the global financial crisis, Singapore rebounded quickly 14.8% in 2010, with per capital GDP equal to that of the leading nations of Western Europe and the third highest per capital income in the world. Singapore has attracted foreign investments in technology production and will continue efforts to establish Singapore as Southeast Asia's high-tech hub. Entrepreneurship Independent of the stage of economic development, entrepreneurship plays a significant role for the expansion, job creation and overall economic health within a country. Entrepreneurship is relatively common in Singapore, with the country taking pride in a sense that the country was built on entrepreneurial...
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...Political: In Singapore, the state has taken on the role of promoter and practitioner of Corporate Social Responsibility, a logical development in view of the dominant role of the government in the local economy. The Economic Development Board Act exists to stimulate the growth, expansion and development of Singapore’s economy. A good example of the role the Singapore government has played in fostering economic growth is the Changi airport and the Singapore Airlines. The Singapore government investment and holding company, Temasek Holdings is the majority shareholder with 54% shareholding of the Singapore Airlines. However, the Singapore government has regularly stressed its non-involvement in the management of the company. The Singapore government also owns Changi Airport that was developed in 1975 to replace the Paya Lebar Airport. Both of these enterprises have become enormously successfully and are a good example of the thoughtful and forward-looking economic policies promoted by the Singapore government. Singapore is an enterprise friendly country. The government has set ups several organizations in helping the business in a very systematic way: 1. Regulation Structure (a)Ministry of Trade and Industry (MTI): It’s mission is to make Singapore a leading global city of talent, enterprise and innovation. Its mission is to promote economic growth and create jobs, so as to achieve higher standards of living for all. The vision of the Ministry of Trade and Industry...
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...six million”. Today’s Singapore population is over 5 million; heading into 6 million in the near future should not be a problem. Assurance from Prime Minister Lee Hsien Loong that Singapore can handle with such a rapid increase of population over decades. Singapore, a country area of 693 sq km (268 sq mi) is one of the world’ most densely populated states. A country with no natural resources but with a strategic port, strong government and its people. Ooverpopulation had been a great concern throughout the world at this stage, with population has crossed the size billion mark, so what effects overpopulation will have on a country’s economy? Acting Prime Minister Teo Chee Hea (2012) said, “The country's population growth is key to achieving this vision. The vision is to build a better and brighter nation for all citizens. If we don't have a sustainable core Singapore population, we won't be able to sustain the kind of Singapore that we want in the future. That is a critical element of the Singapore in the future. The current birth rate is not enough for us to sustain our population or even maintain it at its current level. We want to be able to raise the population through encouraging births," he said. This paper focuses on whether Singapore population growth can contribute to its economic development. And the impact on its GDP if population expected to exceeds 6 million mark. The findings in this paper will support the population-driven economic growth hypothesis which...
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...determinants are documented as followings to determined our casino development location: (Rephann, 1997) 1. Proximity to larger urban areas 2. Quality of transportation infrastructure: 3. Restrictiveness of state casino gaming regulations 4. Proximity to non-casino-gaming states 5. Scale of casino development 6. Presence of other recreational attractions 7. Qualified Personnel inputs In addition, other aspect of the potential destinations such as the reputation of the destination, the economic development situation, the potential tourism development opportunities, accessibility problem in VISA restrictions and the risk analysis of the destinations will be taken into consideration. Attracting elements in choosing Singapore: After conducting the site selection analysis, it is found that Singapore could be one of the potential destinations to be developed for a new casino. General speaking, the high revenue generated by tourism, the high proportion of people in the highest socio-economic categories, the presence of Singapore’s iconic attractions, the high concentration of hotels and so on making Singapore being a higher potential for the new casino development. a) Prosperous Singapore Economic situation: Singapore is a prosperous city with a high living standard proving that it has a sound economic system. It is said that world’s highest millionaire households are in Singapore. It is regarded as one of the best investment destinations across...
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...Ho Chong Weng, Jason Professor Sheng Lijun HA9305 1st November 2011 “How Should Singapore Handle Major Powers in the Region: East Asia Summit of 2011” Singapore’s success as nation is not merely based on its strategic location, economic prowess or effective government. Its foreign policy plays a vital role in creating Singapore into what it is now. Singapore’s relationship with the major powers, the United States and China, will be discussed and also offers some suggestions for its future approaches to both countries. The significance of the East Asia Summit 2011 to the region will also analysed. Singapore is in a unique position where it has excellent ties with both the United States and China. This can be largely contributed to Singapore’s long term diplomacy strategy of having a “maximum number of friends” as espoused by the former Prime Minister of Singapore, Lee Kuan Yew, in his speech on the fundamentals of Singapore’s foreign policy. It is then prudent to ensure that Singapore continues to maintain and better our relationships with both countries and not at the expense of either one of them. Both the United States and China play a unique global role and it is in Singapore’s best interest to have strong ties to both countries. Singapore’s relationship with both the United States and China can be roughly separated into bilateral and multilateral means. Singapore’s government has strong bilateral ties with the United States government and it is evident in many...
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...Laser Diagnostic Instruments (LDI) is an Estonian company, operating in the area of research, development, manufacturing and application of laser-based instrumentation. By the decision of a group of scientists in 1991 to apply their knowledge of lasers and electro-optics to practical commerce solutions, LDI offers analytical sensors to address environmental, industrial, and bio-medical issues, together with a range of software products that control measurements and handle data. LDI main products and services are based on novel laser, electro-optical and photonics technologies aimed at the real-time data assessment. Company developments and products quickly received worldwide recognition and the scientists' achievements have been acknowledged by prestigious international awards. The principal applications of LDI products and services are based on different technologies for each segments: o Laser induced fluorescence (LIF) is the technology that provides users with the tools to conduct broad and accurate environmental surveys of both water and ground in stressed environmental zones, which makes LID products specially suitable for oil spill response operations and others, like pipeline monitoring and leak detection. o Spectral Fluorescence Signature (SFS) is a very sensitive and selective tool to monitor many industrial processes on site and in real time, especially to ensure that products and processes start safe, meet standards, and remain safe at critical points throughout...
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...Singapore Tax Rates and Income Tax System Introduction Singapore’s is one of the world’s biggest economies. Since the global financial crisis and more recently, the Eurozone sovereign debt crisis and the downgrading of the US credit ratings, many global and local investors has sought Singapore as a new safe haven for investing their wealth in and setting up businesses and regional headquarters. In 2010, Singapore’s economy has rebounded close to 15% year on year. Singapore, due to its scarcity of natural resources, depends heavily on foreign investments for growth and economic expansion. Therefore, the government’s policy is to advocate Singapore as a global hub for international trade and commerce. Over the past years, Singapore has always been ranked of one the frontrunners in the world in terms ease of doing business (1), world leader in foreign trade and investment (1), best investment potential for 16 consecutive years (2), most open economy for international trade and investment (1). Source: http://www.weforum.org/reports/global-enabling-trade-report-2010?fo=1 http://app.www.sg/who/196/Business-and-working-conditions.aspx http://www.doingbusiness.org/data/exploreeconomies/singapore/ Another significant reason Singapore continues to attract both local and overseas investment is due to its tax regime – well-known for its attractive corporate and personal tax rates, tax relief measures, absences of capital gains tax, one tier tax system and extensive double...
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..."Greening urban areas is not just about making places look nice. Evaluate the contribution of green areas in cities to meeting the goals of sustainable development" (40 marks) Sustainable development is most frequency defined as development that meets the needs of the present without compromising the ability of future generations to meet their own needs. Thus, sustainable development means finding a balance between the fulfillment of human needs with the protection of the natural environment. Sustainable development can be conceptually broken into three constituent parts environmental protection, economic sustainability, and social wellbeing. In this essay I will evaluate how cities have used urban greening to make steps towards sustainable development. To do this I will focus on Singapore and Hamburg. Firstly, green urban areas act as vital regulating ecosystem services meaning they help to control the climate. Metropolitan areas like Singapore are often affected by the urban heat island effect whereby the inner city can be up to 5°C warmer than surrounding rural areas due to human activities (e.g. the use of cars). Areas of urban greening, for example Fort Canning Park, Singapore’s 18 hectare conservation park, have the ability to undertake the vital role of offsetting the urban heat island effect (UHI). Due to the parks location it acts as a green lung for Singapore’s CBD. With an estimated 1,700 trees the park absorbs heat and has an evaporative cooling effect. As well...
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...1.1 Economic background of Singapore Singapore had established a much stronger and diversified economy in the early 1980’s, and which gave it an economic importance in South-east Asia. Government plan the realigning industrial activities from the traditional labour-intensive, low-wage activities to capital-intensive, high-wage and high-technology activities during the first half of the 1980s. However, Singapore’s economy declined in year 1895 and this is the first time in 20 years. One of the reasons for decline was high-wage, which cause the product of Singapore less competitive on the world market. By the late 1980s, Singapore had to focus on diversify its economic, making it able to provide the manufacturing, financial, and communications facilities for multinational firms. Government take the action to emphasis on the manpower development through the education and training to improve competitive. It also can be shift toward the higher value-add and skill of intensive investment promotion policy. Economic growth averaged 7.7% per annum during this period. In the 1990s productivity increased as did labour cost. Singapore had success in shifting to the higher value-added production signalled by the export growth in high-technology manufactured goods.In year 1997, Singapore economy was affect by the regional crisis by the devaluation of the Thai Baht. Although Singapore’s financial and economic fundamental were sound, the rapidly deteriorating...
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...Scope of the Analysis Page 2 2.0 Geographic Location Page 3 3.0 Demographic Analysis Page 3 4.0 Economic Analysis Page 3 4.1 Macroeconomic Analysis Page 4 4.1.1 GDP and GDP Growth Page 4 4.1.2 GDP per capita and GDP per capita PPP Page 5 4.1.3 Income Distribution Page 5 4.1.4 Major Exports and Imports Page 5 4.2 Business Environment Page 6 4.2.1 East of Doing Business Page 6 4.2.2 Economic Freedom Page 7 4.2.3 Perceived Corruption Page 7 4.2.4 Tariffs and Trade Agreements Page 7 4.2.5 Competitive Analysis Page 8 4.3 Per Capita Spending Page 9 4.4 Technological and Physical Infrastructure Page 9 4.4.1 Transport Infrastructure Page 10 4.4.2 Physical Infrastructure Page 10 5.0 Social Characteristics and Market Potential Page 11 6.0 Political and Legal Environment Page 11 6.1 Political Risk Page 11 6.2 Legal Risk Page 11 7.0 Trade and Diplomatic Relations with Australia Page 12 8.0 Country of Choice Page 12 9.0 Mode of Entry Page 12 10.0 Conclusion Page 13 References Page 14 Executive Summary This report examines and assesses the market suitability of two countries for the company Octahedron’s SWIM software. This report analyses and compares Singapore and Indonesia’s political, economic and business environments. The report examines and compares key economical, political and business environment...
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...supirior rides. Ascis has made further developments in its products for both men and women.It has also reached the core of sports industry and sponsership like football and rubgy. Ascis has been in the asian market for many years markets mostly in Japan and well recognised in American continent,In some asian countries like Indonesia,Thailand, Singapore and Malaysia it is well knwon and still developling its brand name in some coutires. Ascis has not only focused on Sports wear but also concentrate on Apperals and expanded its sports shoe products from Running shoes to walking shoes, and football shoes. It is known in Singapore and Thailand the market share of ascis is low but still one of the leading brands. This paper mainly focuses on Ascis and Asean countries development and growth and how it impacts the buiness by entering their market. But this paper mainly focuses on major countries like Singapore and Thailandas they are the emerging market and high business prospects PEST analysis is used for understanding the growth or decline of the market this paper focus on PEST analysis of Singapore,and Thailand but main focus is Singapore. PEST Consist of Political, Economic, Social and Technological. Singapore is well known for its grasping cultrue.People push themselves in quest for 5Cs. (Cars, Condos,Cash,Credit cards and country clubs,) Singaporeans thrive themselfs to excel even at young age even with the amout of stress people have Singapore is known as the happiest countrie...
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...Singapore Culture Vera Brickey Anthropogist 101 September 20.2011 Instructor:Michael King This report will therefore bring you through the changes that had taken place in Singapore’s labor market from the past to present. I will touch on a few crucial aspects leading to these changes, namely, globalization, technology advancement, and education. Last but not least, I will also comment on the strategies some employers had adopt on ensuring their continuing success. Singapore is a small island country in Southeast Asia. It lies at the southern tip of the Malay Peninsula near the meeting of the South China Sea and the Indian Ocean. Singapore consists of a large island and more than 50 smaller islands. The large island, which is also called Singapore, covers about 250 square miles (650 square kilometers). The other islands have a combined area of about 20 square miles (50 square kilometers). About half are uninhabited. Singapore was originally settled by Great Britain in 1819 as a port of call. The British used Singapore to extend their territories in Indonesia. It remained under British rule until 1941 when Japan bombed and captured Singapore. After three years of Japanese rule, British forces returned to the island. By this time Singapore was longing for self-government. Singapore realized its need for independence in 1959 holding its first general election. The new, independent Singapore was voted into the United Nations in 1965. On December...
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...Integrated Resorts The Report for Gaming Operations Subject By Quynh Nhu Dang 28 August 2013 Teacher: Simon Hamm Table of Contents Introduction3 Body3 1.An overview of what is Integrated resort a) Sun city – South Africa 2. An overview of the Singapore Government’s approach to Integrated Resorts b) Singapore + Marina Land Bay + Sentosa 3.Objectives and aims, what will happen in the future ? . Discussion and Conclusion Recommendations and Implementation . References Integrated resorts I. Introduction The purpose of this report was to analyse the definition of the topic Integrated resort, also to explain different fields including geography locations, operational aspect and business entity. According to Nunkoo and Ramkinsoon (2010), the implementation of integrated resorts has been regarded as an option to operate sustain the economy and cash flows .While investigating these aspects of integrated destinations, it is also very important to consider the standard features and benefits. The information used will depend consisting of online website and individual knowledge. The intention of society dissection is to specify and provide ways to enhance the life of the citizens and the socio-economic requirements of the community (Board of Investment, 2009). Gaming areas, restaurant, hotels, retail shopping and other tourist attractions are consisting to be one: Integrated resort. When the term “IR” appears, that means gambling or casino would refer...
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...MALAYSIA – SINGAPORE RELATIONS: THE SECURITY DILEMMAS INTRODUCTION ‘It's impossible to be friendly with Singapore because of the neighbouring city states’ unfriendliness towards Malaysia. Singapore gets into that kind of mood that they reject anything that comes from Malaysia. We try to be as friendly as possible but it's impossible’.[1] Tun Dr. Mahathir Mohamad Former Malaysia Prime Minister “…we fear that at some time or other there could be a random act of madness like cutting off our water supplies, which they had publicly threatened whenever there were differences between us… we have to be prepared for all contingencies”.[2] Lee Kuan Yew Former Singapore Prime Minister Singapore became a part of Malaysia in 1963. On the part of Singapore, such was a welcomed move as Singapore lacks the depth, mass and resources deemed necessary for development and survival. On the part of Malaysia, however, it started-off as a half-hearted decision, with Tunku Abdul Rahman fearing that the Chinese population in Singapore would, after the merger, upset the Malay majority in Malaya. In May 1960, he told Malayan students in London that “(The) Chinese-educated and new immigrants will always be loyal to China and they are less Malay-minded,” and that the inclusion of the 1.3 million Chinese would confuse Malayans and ruin the calm atmosphere of the Federation[3]...
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