Impacts Of Singapores Integrated Resorts

Impacts Of smashing of capital of capital of capital of capital of Singapores incorporate utilizesSingapore is a small island city with a total population of about 4.98 billion. The local population consists of approximately 74.2% ethnical Chinese, 13.4% Malays and 9.2% Indians. The remainder 3.2% is made up of Eurasians and other foreign workers. It is a relatively young population with only 217,000 or 7% of the population currently over the age of 65 (Singapore Facts and Figures, 2009) compound Resorts is to strengthen the leisure and entertainment options to enhance Singapores reputation as a must-visit destination for leisure and business visitors. The unified Resorts ordain be part of a macroscopicalr spectrum of touristry overlaps and be farming to enhance our destination appeal, and ordain enhance the tourism exertion and scrimping. (Ministry of Trade and Industry, 2010)The staring(a) Domestic Product (gross domestic product) in Singapore expanded at an yearb ook rate of 24.00 percent in the last reported quarter. From 2007 until 2010, Singapores average quarterly GDP Growth was 7.62 percent reaching an historical high of 45.70 percent in March of 2010 and a record low of -12.50 percent in June of 2008. Singapore along with Hong Kong, South Korea and Taiwan is one of the Four Asian Tigers. Singapore has a highly authentic and successful free-market economy. It enjoys a per capita GDP higher than that of most developed countries. (Trading Economics, 2010). The incorporated Resorts are contri barelying to GDP of the plain and it is boosting the economy. (DBS treasures 2010) interconnected Resorts is in reality nothing crude(a) in the world of swordplay and Integrated resorts. Singaporeans were requesting world- gigantic world class developments combining elements already found in other major casino developments such as the Crown Entertainment Complex in Melbourne, Australia The Venetian and Palazzo in Las Vegas The Atlantis on Parad ise Island in the Bahamas Genting Highlands outside of Kuala Lumpur in Malaysia. On the other hand Singapore has seen the results of the Integrated Resorts, so they wanted to acquire those benefits as vigorous (Andrew. M William. R, 2008)Integrated ResortsIntegrated Resorts (IRs) are resorts with mixed development resembling hotels, restaurants, conventionality centre, theme park, shopping centre, casino, (Lee, 2005). As it has a free rein component casino, merged resorts development has stirred a great controversy among the Singaporeans.On 18 April 2005, The Prime Minister of Singapore, Mr Lee Hsien Loong announced the cabinets decision to develop both(prenominal) integrated resorts in Marina Bay littoral and Resorts World at Sentosa. The Singapore Government stated that the aim of the Integrated Resorts is to boost the countrys tourism industriousness and economy. at that place has been very keen competition from the neighboring countries like Malaysia, Thailand and Hon g Kong. According to the Government, the Integrated Resorts are expected to ready approximately 35,000 personal line of credits directly and indirectly ( byplay Times, 08 Nov 2005). There could be a negative social impact of gambling. The Government, however, promised to surrender a proper and strict safeguard to limit the social impact of gambling, among others exorbitant see fee and the casinos would not extend credit to local population (Parliamentary Debate on IR Decision, 2005)An Integrated Resort is really a very large scale entertainment development based a move a casino. The casino component is physically small, but is the primary scotch engine which drives overall returns and facilitates enthronization in other facilities and creature comforts. Thus the casino element must be of such magnitude and importance that it stooge generate over half of the developments annual cash. With capital costs associated with Integrated Resorts at, say, US$4 billion, such a facility would need to generate at least US$500 one million million million in EBITDA (Earnings before Interest, Taxation, Depreciation and Amortisation) to be viable (Andrew. M William. R, 2008)1.2. Definition of Socio EconomicIn most cases, socio economists focus on the social impact of some sort of stinting change, which is basically a study of the relationship between the economic activity and social life(Davis et al, 2008)1.3 Objectives of the ResearchThe objectives of this research are to hear the Socio-Economic impacts of the Singapore Integrated Resorts. This research deals with the socio-economic factors that have electromotive force impact from the Singapore Integrated Resorts and how Singapore is being affected by Integrated Resorts what kind of corroborative or negative things this can bring to the person such as it would create part and more job opportunities for the people and would it revitalize the Singapore tourism industry. On the other hand how does the Integrated R esorts play a vital role in boosting the economy of Singapore, result the Singapore integrated resorts bequeath be able to attract the potential customers and the tourism industry forget grow better and Integrated Resorts would revitalize the tourism industry as at that place been a drop in the tourism sector. thrift of the Singapore would be affected by the Integrated Resorts how it would play a vital role in palmy the economy.1.4 MotivationThis research deals with the socio-economic factors that have potential impact on the Singapore. The main aim is to focus and to investigate, analyze the socio-economic impact. The motivation for this research is to find out the mathematical operation and ways the Integrated Resorts of Singapore boost the economy, revitalize the tourism, and change the shape of tourist coming to Singapore and how they create job opportunities for the people of Singapore. Would the Integrated Resorts be able to improve the soundly-being of the local popul ation by generating jobs and increasing income? Would they will be able to play the role towards Singapore Economy and how they would benefit the local people of the country.The motivation to do this research is to see that would be able to revitalize the Singapore tourism as it is declining in past few geezerhood and what does the IR have to contribute to make a difference and how would the economy of Singapore would be boosted by the IR and what Job opportunities would the IR create for the local people of Singapore. The detective wants to study how the Singapore Integrated resorts would perform as it has all the same components which the other neighboring Integrated resorts have like Mauritius, Crown Melbourne, and Macau China.1.5 Research FocusThe Focus of this research is to understand the Socio-Economic impact of the Singapore Integrated Resorts. The main aim to understand how, the impacts of the Singapore Integrated Resorts can play a vital role on both socio and economic t hese impacts could be positive or negative as wellRevitalize Singapore touristry (Andrew. M and William R, 2008)Boost Singapore Economy (R. Nunkoo and H. Ramkissoon, 2010)Job creation (Andriofis. K, 2008)1.6 Research QuestionsIn this report we have to invest the socio economic impacts of Singapore Integrated Resorts and the effects of these socio and economic impacts could be negative and positive.Revitalize Singapore Tourism.Boost Singapore Economy.Job creationChapter 2Literature ReviewThe purpose of writings review is to make sure that we analyze the Socio Economic Impacts of Singapore Integrated Resorts and the purpose of the literature review is to select promising measure, methods (Mamchak and Mamchak, 1994)The Integrated Resort (IRs) is undoubtedly a necessary step to Singapores future economic viability. As Singapore has no natural advantages, it must capitalize its ability to stay at the forward of the global economy, with focus to attract foreign investors, tourists an d talent. Surveys have suggested that Singapore is seen as unexciting compared to other travel destinations, and has been labeled as conservative, moderate and stale (Straits Times, 2005)The Integrated Resorts and casino in Asia has braggart(a) significantly across the Asia Pacific region since 1999. The ontogeny of the Integrated Resorts and casino market in Asia over the past 10 years and its continued expansion will have an impact on established casino markets in the region, including Australia, Mauritius and Macau have led the way with the development of integrated casino resorts. These developments have come during a period when both Asian economies and the Asian tourism market have grown significantly since 1999, with further growth in both expected into the future. Integrated resorts can be viewed as an try to provide a care unspoiledy planned, controlled and well defined tourism product (Wall, 1997, p. 715)Macau became the largest casino and Integrated Resorts market in t he world, growing from US$2bn 1999 to US$14bn by end2008. The sole casino operator in Malaysia, Resorts World, grew revenues from Au $1bn to in excess of Au $2bn by 2007. These integrated resorts have similarities with the resort pioneered by Genting in Malaysia, with meetings, incentives conventions and exhibitions (MICE) facilities, restaurants and entertainment venues, sitting alongside gambling facilities. However, the sheer size and come of these resorts have eclipsed those in most other parts of the world. (Harry. A Laurie. K, 2009)Singapore having problems to attract tourist and there was big decline in the tourism industry in the year 2008-09 so Singapore decided to have the two Integrated Resorts in order to race with the other Resorts in the Asia as they were so-and-so in the chase as the other nations were attracting plenty of tourist and the economy of the country is booming like Mauritius, Macau, and Crown Melbourne. Based on the research objectives, the researcher w ill provide relevant concepts in the review of current literature in this chapter.Growth in Asia since 1999 and the countries enjoying the benefits of the Integrated Resorts by economic boost to the country, better job opportunities to the people, and improve the tourism of the country. Singapore catches up with the mastermind race.Revitalize Singapore Tourism (Andrew. M and William R, 2008)The visitor arrivals to Singapore started to decline from June 2008 coinciding with the economic downturn. phratry/October saw a slight pickup in arrivals due to the 2008 FORMULA 1 SingTel Singapore Grand Prix. As a result, Singapore end the year with a marginal decline of 1.6% in arrivals to reach a total of 10.1 million visitor arrivals. Visitor arrivals to Singapore fell by 4.5% year-on-year in July 2009 to reach 881,000 visitors. Visitors twenty-four hour periods were estimated at 4.6% million days, year-on-year decrease of 11.6% in comparison of July 2008 (923,000)The decline in tourism i s certainly a concern for Singapore and the effect is to revitalize Singapores tourism and create a unique Singapore niche. There is little point in selling Singapore as a country rich in heritage and culture rather, the Integrated Resorts will market the modern entertainment, vibrant city life, and a constantly changing purlieu Singapore can best call her own (Singapore Tourism identity card, 2009).Figure 1 Decline in tourism in 2008CUsersDickeyDesktopSingapore factsdrop in numbers.pngSource Singapore Tourism Board, 2010Arrivals to Singapore dropped by some 4% in 2009, to 9.7mn. An extremely toughened performance in the second half of the year was not quite complete to off limit the poor start to the year posed by the tourism industry. Tourism revenue totaled an estimated SGD12.4bn for the year, accord to figures released by the Singapore Tourism Board (STB) in February 2010. This represented a decline of 19%, as tourists spent less tour in country. Although 2009 was diffic ult for the Singaporean tourism industry, there are reasons to be positive about the outlook for 2010 as the global economy recovers. In particular, the outset of the two integrated resorts, Marina Bay Sands and Resorts World Sentosa, divine service the island attract new tourists (STB, 2010)Integrated Resort developments at the present time might cost US$4 billion or more, and include facilities and amenities that create virtual cities of entertainment. These new style resorts also change the landscape around them by spurring complementary developments and even enhancing the interest amongst some to have residences in close by to them. Thus they can become substantial hubs of economic activity, catalysts and improve tourism (Andrew. M and William R, 2008)Perhaps the most significant economic impact from the development of an Integrated Resort is tourist impact. An Integrated Resorts located in a capital city such as Singapore or Melbourne, IR can generate significant visitor numb ers sometimes exceeding ten million per annum (implying an average of upwards of 30,000 visitors per day.) Depending on placement and the existing type and range of facilities offered, this may well result in millions of additional tourists visiting the region, resulting in incremental spend in the local communities as these visitors deal out tours, eat in local restaurants and stay at local accommodations (outside the IR) and spend time and money outside the Integrated Resort. At Genting Highlands in Malaysia, for example, it is estimated that approximately trinity million people visit the country annually specifically to visit the Resort. This represents around fifteen percent of total international visitors to Malaysia (Andrew. M William. R, 2008)International visitor arrivals to Singapore registered 16.2% growth to reach 1,055,000 in January 2011. This is the highest ever recorded IVA for the month of January. Visitor days were estimated at 4.1 million days, a year-on-year g rowth of 13.3% and arrivals to Singapore have been on an upwards trend throughout 2010 so far. In April, the city-state welcomed 978,339 visitors, a record for the month and a 20% outgrowth on April 2009. additive arrivals for the original four months of 2010 came to 3.63mn. This strong performance reflects the improving global economic environment, as well as the positive impact of Singapores new integrated resorts.Business Monitor International ltd says both resorts will do a lot too significantly revitalize Singapores tourism industry from 2010, as they offer a wide range of entertainment aimed at complementary markets.Figure 2 Visitors arrival 2009/10/11CUsersDickeyDesktopSnag itVisitordec 07,dec08.pngSource STB 2010The socio economic impact of Singapore Integrated Resorts have really revitalized the tourism sector of Singapore as shown in the figure above and the tourism industry has grown quickly as there are a lot of visitors coming to Singapore to check out the new Inte grated Resorts, leisure and recreation purpose.Based on the experience of Las Vegas, when dealing with a true Integrated Resort, it is possible that only about half of the total revenue generated will come from casino operations. The remainder will be driven largely by people staying in the hotels, attending conferences, conventions, events, or theme park activities. The general attractiveness of the venue and its supporting infrastructure, much of the non- dramatic play spend at the IR will be derived from people visiting from outside of the local area and local people, this will support the direct new investment to the Integrated Resorts and Singapore Integrated Resorts have those same components as the other IR have and the Singapore tourism industry is growing rapidly as the Integrated Resorts are attracting lots of visitors from different countries (Andrew. M and William R, 2008)Singapores tourism offering is being radically altered by the opening of the two new integrated reso rts, the SGD 6.6bn Resorts World Sentosa operated by Genting International and the SGD7.6bn Marina Bay Sands operated by Las Vegas Sands Corporation. Resorts World is aimed more at a family audience, with attractions including theme parks and an oceanarium, while Marina Bay Sands is aimed more at the business travel and MICE market, with conference facilities and shopping area, both has casino. (STB, 2010)The Integrated Resorts brings in entertainment and conventions, hospitality and retail outlets, which will help to increase the demand for hotel services, greater patronage at restaurants and heightened convention and exhibition activities. Singapore had rapid hotel growth and development over the past two years with the openings of The St. Regis Singapore (April 2008), Capella Singapore (March 2009), Integrated Resorts and the Fullerton Bay Hotel Singapore. The hotels are doing very good business as their occupancy rate has really grown up and they are performing well. The new hot el openings come at a time when visitor arrivals numbers to Singapore are seeing an increase. The destination saw visitor arrival numbers increase by 30.3 percent to 946,000 visitors total in may 2010, compared to the same period last year, which saw 726,000 visitor arrivals. May marked the sixth consecutive month during which Singapore saw record tourism arrival numbers. The country expects to reach its goal of at least 11.5 million total visitor arrivals by the end of 2010 (Travel Age West, 2010) Average Occupancy Rate (AOR) posted a 5.2 percentage point increase over phratry 2009 to reach 82% in September 2010. (STB, 2010)At the end of 2008, Singapore had 39,289 hotel rooms. In 2009, average occupancy rate (AOR) was 79%, a drop from 81% in 2008. The average room rate (ARR) for the year was estimated by the STB to be SGD191, a 22.3% decline. This reflected the more challenging operating environment for hotel companies during 2009. In April 2010, AOR stood at 85% for the month, a n increase of 15 percentages.In 2010, the integrated resorts at Resorts World Sentosa and Marina Bay Sands added 4,400 rooms to Singapores supply. Four of these hotels are already open. In 2009, several major new hotels opened, including the 300-room St Regis Singapore, the 121-roomAmara Sanctuary Resort Sentosa and The Boutique Hotel Tiong Bahru. In mid-2010, Australias StayWell Hospitality Group is to open the 200-room Park Regis Singapore (STB, 2010). In April 2010, AOR stood at 85% for the month, an increase of 15 percentage points. ARR was estimated byThe STB to be SGD211, up by 12.2%.Figure 4 Hotels average occupancy 2009/10/11CUsersDickeyDesktopSingapore factshotel occupancy in 2010.pngCUsersDickeyDesktopSingapore factshotel arr.pngSTB 2010 Figure 5 Average Room Rate 2009/2010/2011Average Room Rate (ARR3) increased by 13.1% over September 2009 to reach an estimate of S$233 in September 2010. Average Occupancy Rate (AOR2) posted a 1.0 percentage point increase over January 201 0 to reach 82% in January 20112.2 Boost Singapore Economy (R. Nunkoo and H. Ramkissoon, 2010)When Singapore decided to establish two Integrated Resorts in the City-State, did so on the basis of the potential visitor impacts and boost Singapores economy as well as its image. Singapores goal was to triple its tourist numbers over a period of twelve years and to more than triple the resulting economic impact by attracting higher spending and thus higher repute visitors to that country. When they open in 2010 or 2011, the two IRs will be critical in achieving that objective and will likely contribute more than fifty percent to Singapores long term goal by 2015Singapore is on the right track by opening the two Integrated Resorts which will boost the Singapore economy. The Ministry of Trade and Industry (MTI) had earlier forecast the Singapore economy to grow between 7.0 and 9.0 per cent this year. Singapore today doubled its economic growth forecast for 2010, expecting it to expand betw een 13.0 to 15.0 per cent following a better economic performance in the beginning(a) quarter. (Bernama Malaysian National News Agency, 2010)As we have seen in the recent years that Macau has experienced an unprecedented level of economic success of its gambling monopoly. It has created an environment where casinodriven tourist investment projects attract industry leaders, while tourist, hotel guest numbers and revenues have grown with the opening of new integrated resorts. Macaus location is next to a rising and booming Chinese economy.As well as in recent years Mauritius has experienced a rapid increase in integrated resort developments, which have been intended to secure income from new tourism segments and to boost the economy. (Robin.N Haywantee. R, 2010) Singapore is also having such an Integrated development so the Integrated Resorts of Singapore are going to boost the economy as well.This success of Macau and Mauritius has not gone forgotten, Singapore has followed the foo tsteps as well and having the Integrated Resorts which will for sure help to boost the economy of Singapore Perhaps the most no flurry move that illustrates this shift is Singapore. Traditionally conservative, in April 2005 it made the decision to attempt to emulate the success of Macau which has helped them to boost the Singapore economy by the help of the Integrated Resorts. However, in late2004, the Singapore government changed its policy stance in a move inspired by the incredible growth of Macau, the continued success of Genting Highlands and the phenomenal rise of tourism in Asia (Harry. A Laurie. K, 2009)There has been a great change from the over the past century. Governments and developers around the world have caught on the race to mastermind, create and develop Integrated Resorts and Entertainment which creates positive value propositions and potential growth to the countrys image and economic strength of Singapore. Between 1993 and 2002, tourisms contribution to GDP dro pped from 6.1% to 3%, and our share of the Asia Pacific tourist flow fell from 8% in 1998 to 6% in 2002.Figure 6 Assessing the Economic ImpactsIntegrated Resort Assessing the Economic ImpactsTotal Revenue of about $ 270 million, of which $212 million are derived from gaming activatesContribution to GDP of about $500 million, which is 0.4 of Singapores 2003 GDPSource Forecast by Assoc Prof Winston Koh, Singapore Management University 2010The positive annual impact from Integrated Resort developments can indeed be substantial. Estimating the economic potential of these IRs will depend on the unique situations established within each locale and intelligent situation. However, it is often the case that such developments can become the most significant that any locale will have seen from a single activity.Marina Bay Sands opened its first phase of development in April 2010, offering 963 out of its total of 2,560 hotel rooms, as well as opening part of its shopping mall, restaurants and convention centre. The grand opening for the resort took place in June. BMI believes both resorts will do much too significantly boost Singapores tourism industry from 2010, as they offer a wide range of entertainment aimed at complementary markets. Government projections have estimated that each resort could contribute SGD2.7bn to Singaporean GDP by 2015.Singapores two integrated resorts are a major boost to the countrys economy, said Prime Minister Lee Hsien Loong. The Prime Minister said he is delightful that visitors are generally happy with the IRs as such attractions make the economy more vibrant and the city more colorful. He added that the IRs have created buzz and both were packed with visitors on their opening days, creating many jobs in the hospitality and tourism sector. According to media reports, nearly 200 bus loads of Malaysian tourists a day are visiting the IRs. (Channel News Asia, 2010)Singapores growth accelerated to a record 18.1 percent grand in the first hal f of 2010, spurring the currency and putting the island on course to overtake China as Asias fastest-growing economy this year. Gross domestic product expanded at a 26 percent annualized pace in the second quarter from the previous three months, after a revised 45.9 percent gain in January to March, the trade ministry said today. Growth in the first half was the fastest since records began in 1975, prompting the government to predict GDP will rise 13 percent to 15 percent in 2010.(Bloomberg, 2010) Figure 7 Singapore GDP Growth rates 2007/2010CUsersDickeyDesktopSingapore facts11-10-2010 1-48-36 PM.pngSource Trading Economics (2010)This will put Singapore on track to by chance becoming the worlds fastest growing economy, surpassing even China. On an annualized and seasonally adjusted basis, Singapore economy expanded 26.0 per cent in the April-June period (Channel password Asia, 2010). The two Integrated Resorts are now reflected in the GDP data contribution as integrated resorts ha ve contributed SGD 470 million to the economy in the first year.Figure 7 and 8 Contribution of Integrated Resorts theCUsersDickeyDesktopSingapore facts12-19-2010 4-53-26 PM.pngCUsersDickeyDesktopSingapore facts12-19-2010 4-54-59 PM.pngSource DBS treasures 2010Contributions derived from the GDP statistics reflect only the direct impact of the IRs. The overall economic gains to the economy are likely to be significantly larger if the spinoffs to other industries are taken into account. (Dow Jones International News, 2010).Singapore economy will need to create as many as 130,000 jobs next year if the latest economic growth forecast is to be met, economists said. Most of these jobs are set to come from the service sector, although there is likely to be broad-based job creation across most industries, said human resource experts and companies. The two integrated resorts are leading the hiring charge. They look set to continue hiring rank-and-file service staff for restaurants, hotels and tourist attractions in the next two to three years. (Aaron, 2010)Job creation (Andriotis and Konstantinos, 2008)Integrated Resorts being constructed with a development involving capital in the billions of US dollars there are going to be a number of wide ranging economic benefits and multiplier effects accruing to the region of Singapore. The first round comes from the construction contracts and the related employment opportunities for the local people (Andrew. M William. R, 2008)Integrated Resort is generating the greatest flow of economic benefits. Integrated Resorts tend to be toil intensive, requiring large numbers of staff to service the various facilities and activities on offer to customers and guests in the Integrated Resorts such as in hotels, restaurants, shopping center and gaming components Casinos. This number can exceed ten thousand direct full time equivalent employees, depending on prevailing wage rates and other factors. The casino in particular can be a major co ntributor to employment with anywhere from five to seven employees per tabularize game. In Asia particularly where table games are the most popular form of casino entertainment an IR casino might have five hundred or more table games with thirty five hundred or more staff just in that department (Andrew. M William. R, 2008)The diversity of job opportunities within an Integrated Resort can be very tremendous. However, an IR should be viewed as a small township with a multitude of roles required to maintain its operation. It is not unique for there to be one to two hundred different positions within the entire complex. Direct employment of this magnitude induces a multiplier effect in the local community with additional jobs created to service the employees of the IR. Depending on the extent of economic development in the region, the increase in jobs and incomes deriving from employment at the Integrated Resort can be very large indeed. An employment multiplier of 1.5, for example, would result in an additional five hundred jobs for every thousand full time jobs created within an Integrated Resort. This sort of impact on a local community job creation can be of great logical implication and should not be underestimated. (Andrew. M William. R, 2008)The Integrated Resorts industry the IRs has been projected to create at least 35,000 jobs and greatly increase household revenue. Many governments have further integrated resort development in an attempt to improve the well-being of the local population by generating jobs and increasing income, and because of the easier control of tourism activities within their boundaries. However, as found jobs offered by the Integrated Resorts are more desirable than local jobs due to higher pay. (Andriotis and Konstantinos, 2008)Singapore job market soared towards the end of last year, causing a plunge in unemployment and a sharp rise in the employment of local workers. The jobless rate among residents, who include citizens a nd permanent residents, fell from 5 per cent last September to 3 per cent in December, which meant about 61,400 people being out of work. This drop is the steepest three-month decline in a decade, according to preliminary figures released by the Ministry of Manpower (MOM) yesterday. Accelerated hiring for the year-end festivities and by the two integrated resorts (IRs) made for the improvement. (Straits Times, 2010)The Integrated Resorts have helped to reduce unemployment, but full potential of IR effect not seen yet Singapore decision to allow integrated resorts (IRs) with casinos to be built here has changed this country for ever and it is already reaping the benefits. The IRs began hiring well before the opening of the properties they clearly had a strong role to play in pushing down unemployment to 2.1 per cent, says Leong Wai Ho, an economist with Barclays Capital.The economic landscape in the Singapore is changing very rapidly making it imperative for Singapore to adapt to an increasingly competitive environment not just to expand its tourism share, but to keep on target of being the ultimate Global City of Asia. Given the huge investment in the Integrated Resorts projects, integrated resorts will consume significant economic benefits for local companies and businesses in order for the gains to be equitably shared by Singapore society. The key here is how to profit from the expected inflow of tourists, and make the most of the opportunities brought about by job creation and benefit to the local people of Singapore (Business Times, 2010)Singapore has seen the neighbor and not gone unnoticed as The Crown Entertainment Complex in Melbourne, Australia is an example of an Integrated Resort casino opened in 1997 that was one of the largest single site job creators in the Southern Hemisphere. (The case for Integrated Resorts, 2010)Singapore, when it decided to establish two Integrated Resorts in the City-State, did on the basis of the potential visitor impac ts and the positive effects they would have on Singapores economy as well as its image. Singapores goal was to triple its tourist numbers over a period of twelve years and to more than triple the resulting economic impact by attracting higher spending and thus higher value visitors to that country. Integrated Resorts will be critical in achieving that objective and will likely contribute more than fifty percent to Singapores long term goal by 2015. (The case for Integrated Resorts, 2010)As illustrated in Labour Force Survey the unemployment rate shows a downward trend due to the improving economic conditions over the past few years, from 2003 to 2008. For the year 2007, the strong economic recovery has helped to ease the unemployment rate to less than 2%. Total employment increased by 9.6% in the fourthly quarter, December 2007, growing for the fourth consecutive quarter and at an increasing pace due to