Ans: The economic and tourism landscape in the region is changing very rapidly. The growth of the Asia Pacific outbound market, fuelled by the growing middle class in China, India, ASEAN, and the emergence of low cost airlines present significant opportunities. Many countries in the region are moving quickly to develop major tourist attractions and exciting tourism products. We need to respond and adapt to the increasingly competitive environment or we will gradually lose out on our tourism share.This is a key reason why we studied the feasibility of an Integrated Resort (IR). An IR will contribute significantly to Singapore's overall positioning as a premium must-visit destination offering a wide range of entertainment experiences for the leisure and business visitors. This resort will be part of a larger spectrum of tourism products we are developing to enhance our destination appeal.An IR will generate significant economic benefits for Singapore. First, the investments in IR developments are likely to be substantial. For example, US$1.6 billion was spent to develop the Bellagio in Las Vegas and US$2.4 billion will be spent to develop the upcoming Wynn Las Vegas resort. In addition, they create significant jobs and economic spin-offs. Second, IRs boost tourism receipts. Las Vegas, with a population of less than 2 million, attracts 36 million visitors each year. Las Vegas is the top convention city in the US and draws in many business travellers.We are mindful of the concerns regarding the potential social impact of a casino and hence have been studying the various issues carefully. Back to top
