04 Mar '11, 7am

IRs set to boost S'pore economy

IRs set to boost S'pore economy

SINGAPORE: Singapore's economy is set to get a boost, to a tune of S$2.7 billion, from each of the integrated resorts per year. This is according to the Senior Minister of State for Trade and Industry S. Iswaran who spoke on Friday in Parliament. He said the city state is on track to receive the S$2.7 billion from each IR as previously projected. However, Mr Iswaran also said the government should expect the novelty of the integrated resorts to "diminish even as the IRs continue to roll out new attractions." He added Singapore should also anticipate "increasing regional competition for the tourism dollar." Overall, Mr Iswaran said although "the IRs are off to a good start from an economic perspective, it is too early to draw definitive conclusions about their long-term economic impact." Meanwhile, the government said it expects 12 million to 13 million visitor arrivals thi...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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