Friday, May 8, 2009

Are IRs a boon or bane to Singapore?


               In 2 more years, Singapore’s hotly debate integrated resorts should be up and running. Before I make my stand, I think that it is more important to define the topic, rather than foolishly misinterpret it and distort its meaning.  Since this proposal burst forth in 2003, many discussions or debates have been centered around mostly on are casinos a boon or bane to Singapore, while the term IR is ignored. True, a IR without a casino is not a proper IR, but we have to remember that an integrated resort comprises of many amenities, such as theme parks, cinemas, hotels, shopping malls, exhibition and convention spaces, theatres and even museums. To forget about this wide range of other facilities and just focus on the casino itself would be misleading.

               While the building of two integrated resorts will pose many problems to Singaporeans, we have to look into the long term. In globalization, with many countries opening up to the world, spending billions of dollars to reinvent, repackage and revamp themselves, complacency could very well result in the elimination of Singapore’s status as a vibrant city. London and Hong Kong have already begun giving themselves a face-lift, and are full of drive and energy just like Singapore. Both cities have been looking into casinos, with Hong Kong seeking to compete with Macao by building a casino, after their successful launch of Disneyland. We are not the only global city that is developed in just Asia alone, with Seoul, Tokyo, Beijing and Hong Kong proving themselves to be vibrant and cosmopolitan cities.

               Thus, in this rat race, only the strong survive. Unless we find ways to continually keep up with this relentless pace of improvement, we will be bypassed and left behind many other countries. Already, Singapore has lost ground in tourism over the past years. We need something other than the Singapore Flyer and F1 among our newest additions to tourist attractions. Already, we have not been blessed with beautiful scenery unlike many large countries and we need manmade attractions to resist tourists flocking to the new and rising powers such as China and India. Thus, the main case for the integrated resort is this very point. In short, the economic merits to Singapore that these integrated resorts bring could revive and revise Singapore’s global image and whether we get eliminated in this race could depend on this.

               The sentiment of most Singaporeans is that the integrated resort is a bane to Singapore. While the other amenities are harmless, unless people want to bring up the issue of shopaholics or theme park addicts, the main bone of contention is irrefutably the casinos.  In every country, just as there will be murderers and thieves, there will be gambling addicts. What better way for these addicts to sate this insatiable appetite then to just take a bus down to the casinos conveniently situated in Singapore itself? Many other problems come with gambling, such as breakdown of family, spouse and children abuse, loansharks, money laundering or even thefts. True, this problems are by no means trivial, but if these gamblers are that hardcore, they would already be gambling in Macau or nearby countries. Why not let them spend their money here? The government has already made a regulation whereby families can ban a family member or themselves from entering the casinos, to counteract this threat.

               The casinos will not actually make gamblers, but would rather convert gamblers. Gambling is not altogether illegal in Singapore, with illegal and legal forms of gambling, such as mahjong, horse racing, betting on soccer, Toto and 4D, to name a few. Thus, speaking of the casinos as if Singapore has no other forms of gambling can distort the actual picture. Furthermore, the government has taken measures to provide a better safety net against these gamblers. Firstly, a high entrance fee will be charged, so the casinos will be catered more to the tourists than locals. Thus, casual gamblers will be deterred. Furthermore, the casinos will not be allowed to extend credit to locals, thus it is harder for us Singaporeans to lose more than we can afford.

               With these safety measures, I am sure that the integrated resorts will help to boost Singapore’s image and tourist numbers, and at the same time safeguard its citizens effectively.

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