The city-state of Singapore left the Federation of Malaysia on 9 August 1965. This year the government is seeking to change its image in the modern world. Previously seen as ‘straight-laced’ and the epitome of a nanny state, recent changes have loosened censorship of material in magazines, television, etc. and last April brought an end to a forty-year ban on casinos.

As stated by its Prime Minister, Singapore is anxious to renew itself, following the example of big cities such as London, New York and Paris, and provide tourists with a reason to prolong their stay. In 2004 around 8.3 million visitors found their way to Singapore and spent US$5.8 million in the process. Singapore not only wants to increase that figure to 17 million annually and triple their spending but also to encourage more business professionals to live and work in the country that has a population at present of less than 3.5 million.

A recent economic study by a local university suggests that the building of two casinos in Singapore will add 1.8% to the city-state’s gross domestic product (GDP) and that the stagnating construction industry will benefit from the incoming investment. It is estimated that construction contracts will see a 20% increase and that when the casinos open in 2009 tourist numbers will rise by at least 10%.

It is not only Singapore that should benefit from investment in the two Integrated Resorts. Analysts predict that a US$2 billion cost for a casino complex will have a commercial value of US$5 billion with anticipated revenue of US$2 billion each year. Prime Minister Lee Hsien Loong summed up the government’s changed in attitude when he addressed parliament earlier this year, “We cannot stand still. The whole region is on the move. If we don't change, where will we be in 20 years?"

Macau may be becoming the Las Vegas of Asia down to having its own ‘Strip,’ the Cotai Strip, but Singapore may yet become known as the Monaco of the East. (E-08.11.05)

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