31 Dec '12, 1pm

Singapore's nightlife booming despite slower growth

Singapore's nightlife booming despite slower growth

SINGAPORE : Singapore may be reporting slower economic growth this year, but the nightlife in the Lion City is booming, and it is showing no signs of abating. New watering holes have popped up across the island, and they are raking in the dough. It has been six months since The Vault opened its doors to its first customer. Situated in what was an OCBC bank outlet in the 1930s, the Chinatown newcomer has steadily built on its stash of cash-rich customers. Godwin Pereira, co-founder of The Vault, said: "Traffic is growing in percentage...Fridays, we are running at about 150 per cent, so that is great. On Wednesdays and Thursdays, those are normally quieter nights. "But we have been seeing a 30 to 40 per cent increase during the festive season. So that is healthy." Rival entertainment group Massive Collective is tapping the boom-times too. It co-owns a network of popular club...

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

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