Analysis of Singapore Integrated Resorts

Analysis of capital of capital of capital of capital of capital of capital of capital of capital of capital of Singapore unified fall behinds1 IntroductionSingapore is a humbled island city with a come in macrocosm of about 4.98 million. The local tribe consists of approximately 74.2% ethnic Chinese, 13.4% Malays and 9.2% Indians. The remainder 3.2% is made up of Eurasians and other foreign workers. It is a comparatively puppylike population with hardly 217,000 or 7% of the population acceptedly e really give the age of 65. This is set to change dramati blazon outy from now to 2030 when 800,000 or 18.7% of the population go out be aged 65 years and above. The proportion of those amongst 15 and 45 years currently make up nearly half the population (Singapore Facts and Figures, 2009)The objective of the incorporated Resorts is to qualificationen the untenanted and entertainment options to enhance Singapores reputation as a must-visit destination for leisure and busine ss visitors. The combine Resorts go away be part of a larger spectrum of touristry products and atomic number 18 developing to enhance our destination appeal, and ordain enhance the touristry persistence and preservation. (Ministry of Trade and Industry, 2010)The uncouth domesticated help Product (gross domestic product) in Singapore expanded at an annual rate of 24.00 percent in the last reported quarter. From 2007 until 2010, Singapores fairish quarterly gross domestic product result was 7.62 percent reaching an historical elevated of 45.70 percent in March of 2010 and a book low of -12.50 percent in June of 2008. Singapore on with Hong Kong, southwestern Korea and Taiwan is adept of the Four Asian Tigers. Singapore has a highly veritable and successful free-market economy. It enjoys a per capita gross domestic product higher than that of close developed countries. The economy depends heavily on exports, finickyly in consumer electronics, avowation technolo gy products, pharmaceuticals, and on a growing service sector. This page includes Singapore GDP exploitation ramble chart, historical info and newborns. (Trading frugals, 2010)There be oer 7,000 Multi-National Corporations (MNCs) with operations based in Singapore, 4,000 of which atomic number 18 regional headquarters (Singapore Facts and Figures, 2009).Definition of Socio economicsIn most cases, socio economists focus on the neighborly impact of some sort of sparing change, which is basically a admit of the kinship surrounded by the economic military action and social life(Davis et al, 2008). Involve both economic and social factors.1.2 Objectives of the interrogationThe main objectives of this query are to on a lower floorstand the Socio- economic Perspective of the Singapore incorporate Resorts. This question deals with the socio-economic factors that cook potential impact of the Singapore unified Resorts. Its focus is to investigate and analyze the socio-e conomic impact. determine and evaluate the signifi tummyce of the social and economic factors of the Integrated Resorts. For event gambol addiction, money laundering, restorative of Singapore touristry Industry and Boost in Singapore touristry and Economy.The objective of this question to understand the socio economic perceptive of Singapore Integrated resorts, would they corroborate bad or good core group to Singapore and understand the factors how these factors have lordly or negative effect on Singapore.1.3 look into FocusThe Focus of this research is to understand the Socio-Economic perceptive of the Singapore Integrated Resorts. The main aim to understand how, the impacts of the Singapore Integrated Resorts mass roleplay a vital role in the socio and economic ways.Revitalizing Singapore tourismBoost for Singapore tourism and EconomyCompulsive Gambling1.4 query QuestionsIn this report we have to invest the socio economic- perceptive of Singapore Integrated Resorts a nd the effects of these socio and economic perceptive could be negative and positive.How the Integrated Resorts would help in Revitalizing Singapore tourism.How the Integrated Resorts would help in shape uping Singapore tourism and EconomyHow the Integrated Resorts could cause Compulsive GamblingChapter 2Literature inspectionThe offer of writings review is to make sure that we analyze the Socio Economic- perceptive of Singapore Integrated Resorts and the place of the literature review is to select promising measure, manners (Mamchak and Mamchak, 1994)The Integrated Resort (IRs) is undoubtedly a necessary step to Singapores future economic vi mightiness. As Singapore has no natural advantages, it must take advantage its ability to stay at the front of the global economy, with focus to attract foreign investors, tourists and talent. Surveys have suggested that Singapore is seen as unexciting compared to other pass destinations, and has been denominate as conservative, moderat e and stale concentrating on traditional cultural projects like the Asian Village, Tang Dynasty and Haw Par Villa, and failing to move on with new innovations (Straits Times, 2005).Identify and highlight the important variable stars and document the signifi washstandt results of earlier research that will set as the basis on which the theoretical framework of the probe can be built and the hypothesis developed (Sekaran, 2003). Based on the research objectives, the investigator will provide relevant concepts in the review of current literature in this chapter.Revitalizing Singapore TourismSingapore achieved good growth in visitor stretchs of 4.6% during Jan-May 2008, visitor arrivals to Singapore started to decline from June 2008 coinciding with the economic d avowturn. kinfolk/October saw a slight pickup in arrivals collectable to the 2008 FORMULA 1 SingTel Singapore kB Prix. Stronger arrivals from West Asia (+15.5%), South Asia (+5.6%), Oceania (+6.6%) and Europe (+4.5%) b esides helped to electrical shock the downward pressure on arrivals. As a result, Singapore ended the year with a marginal decline of 1.6% in arrivals to reach a thorough of 10.1 million visitor arrivals. Visitor arrivals to Singapore fell by 4.5% year-on-year in July 2009 to reach 881,000 visitors. Visitors days were estimated at 4.6% million days, year-on-year falling off of 11.6% in comparison of July 2008 (923,000), The decline in tourism is certainly a concern for Singapore and the solution is to revitalize Singapores tourism and puddle a unique Singapore niche. There is little point in selling Singapore as a country rich in inheritance and civilization rather, the Integrated Resorts will market the modern entertainment, vibrant city life, and a constantly changing environment Singapore can surmount call her own (Singapore Tourism Board, 2009).Figure 1 Decline in tourism in 2008CUsersDic advertDesktopSingapore factsdrop in numbers.png start Singapore Tourism Board, 2010Sin gapore Tourism Boards (STB) can see the potential attraction of the Integrated Resort as an economic case to revitalize the tourism attractions which have become luster oer the years. The ii Integrated Resorts can choose more(prenominal) prospective investors and they could invest up to some $5 billion and create about 35,000 jobs for the whole economy. (Ministry of s maltreat Affairs, eighteenth April, 2005)The integrated Resorts played an important role and the visitor arrivals to Singapore registered 18.4% growth to reach 947,000 in September 2010, the highest number of arrivals received in the month of September. This as well marks the tenth consecutive month of record visitor arrivals. This months visitor arrivals can be partly attri furthered to the hosting of the Formula 1 SingTel Singapore Grand Prix, the realisms only Formula One night race and the draw of the galore(postnominal) leisure and entertainment events under the Grand Prix duration Singapore 2010 (Singapo re Tourism Board, 2010).China is ranked third among the top 15. There is good potential for the Chinese tourists market. With the rise of China and the influx of middle-income Chinese tourists the portion with the largest growth potential, in which most are willing to gamble at the gaming tables, the IRs would become more crucial than ever. The Feedback Unit itself has ascertained that Singapore wants an iconic destination resort that offers terra firma-class entertainment and leisure facilities not a mere frolic facility like Macau.Figure 2 Visitors arrival 2009/10CUsersDickeyDesktopSingapore factsvisitors arrivals.png citation STB 2010Figure 3 Visitors arrival top 15 markets 2010CUsersDickeyDesktopSingapore factsvisiots arrival 2010.pngSource STB 2010Figure 4 Visitors arrival 2007/08CUsersDickeyDesktopSnag itVisitordec 07,dec08.pngSource STB 2010The socio economic perceptive of Singapore Integrated Resorts have really revitalized the tourism sector of Singapore as imagen in th e figure above and the tourism industry has grown rapidly as there are a lot of visitors coming to Singapore to check out the new Integrated Resorts, leisure and recreation purpose.Singapore had rapid hotel growth and development over the past devil years with the openings of The St. Regis Singapore (April 2008), Capella Singapore (March 2009), Integrtaed Resorts and the Fullerton Bay Hotel Singapore. The hotels are doing very good business as their line of work rate has really grown up and they are performing well. The new hotel openings come at a clipping when visitor arrivals numbers to Singapore are seeing an growing. The destination saw visitor arrival numbers increment by 30.3 percent to 946,000 visitors total in May 2010, compared to the same period last year, which saw 726,000 visitor arrivals. May marked the sixth consecutive month during which Singapore saw record tourism arrival numbers. The country expects to reach its goal of at least 11.5 million total visitor arr ivals by the end of 2010 (Travel Age West, 2010) Average tenancy lay (AOR) posted a 5.2 percentage point increase over September 2009 to reach 82% in September 2010. (STB, 2010)Figure 5 Hotels average occupancy 2009/10CUsersDickeyDesktopSingapore factshotel occupancy in 2010.pngSource STB, 2010Average Room Rate (ARR3) increased by 13.1% over September 2009 to reach an estimate of S$233 in September 2010.Figure 6 Average Room Rate 2009/2010CUsersDickeyDesktopSingapore factshotel arr.pngSource STB 20102.2 Boost Singapore Tourism and EconomyThe Integrated Resorts brings in entertainment and conventions, cordial reception and retail outlets, which will help to increase the demand for hotel services, greater patronage at restaurants and heightened convention and exhibition activities. Studies and surveys have shown that tourism numbers and using up increase with the development of IRs. The Integrated Resorts in Singapore is not like the gambling facilities in Macau or Australia, which mainly cater to local patrons. One practical manikin for Singapore is a subvention themed mega-resort, which has a large scale development that takes advantage of beach and marina settings to create a truly get-away holiday touch for visitors and localsSupporters of Integrated Resorts have claimed that tourists duration and repeated visits would also increase. Singapore Tourism Board also supports the project, as it believes that the IRs has help to boost the tourism industry and enhance Singapores attractiveness as a tourism destination. Being among the top-three visitor-generating markets, China (with increasing number of middle-class), and Japan (with existence of high rollers), serve as attractive target segments for Singapore (Singapore Tourism Board, 2009).There has been a great change from the paradigm over the past century. Governments and developers approximately the world have caught on the race to mastermind, create and develop Integrated Resorts and Entertainment w hich creates positive value propositions and potential growth to the countrys image and economic strength of Singapore.Between 1993 and 2002, tourisms contribution to GDP dropped from 6.1% to 3%, and our share of the Asia Pacific tourist flow fell from 8% in 1998 to 6% in 2002. Extremely moderate.Figure 7 Assessing the Economic ImpactsIntegrated Resort Assessing the Economic ImpactsTotal Revenue of about $ 270 million, of which $212 million are derived from gaming activates component part to GDP of about $500 million, which is 0.4 of Singapores 2003 GDPEmployment of people of 3600Source Forecast by Assoc Prof Winston Koh, Singapore Management UniversityThe Singapore Tourism Board (STB) has portended its tourism industry for 2010, announceing that between 11.5 million to 12.5 million visitors will arrive, with S$12.6 billion ($9 billion) to S$13.3 billion ($9.52 billion) in tourism receipts. The forecast can be attributed to Singapores dramatic transformation as a result of multibi llion-dollar investments in new tourism infrastructure (Singapore Tourism Board, 2010). The Integrated Resorts play a vital role in attracting the visitors through Casinos, Shopping Centers, normal Studios, different types of Hotels, Convention halls and restaurants.Singapores two integrated resorts are a study boost to the countrys economy, tell Prime minister of religion lee Hsien Loong. The Prime Minister said he is glad that visitors are generally happy with the IRs as such(prenominal) attractions make the economy more vibrant and the city more colorful. He added that the IRs have created buzz and both were packed with visitors on their opening days, creating many jobs in the hospitality and tourism sector. According to media reports, nearly 200 bus loads of Malaysian tourists a day are visit the IRs. (Channel News Asia, 2010)Asia in particular(a) is fuelled by rapid growth, economic interest for the business and leisure group. Plenty of investors both local and foreign ar e becoming aware that Integrated Resorts are now becoming the of city life with important socio economic implications. (Integrated resorts and Entertainment 2010) Singapores growth accelerated to a record 18.1 percent pace in the first half of 2010, spurring the currency and putting the island on course to overtake China as Asias fastest-growing economy this year. unprocessed domestic product expanded at a 26 percent annualized pace in the second quarter from the previous three months, after a revise 45.9 percent gain in January to March, the trade ministry said today. Growth in the first half was the fastest since records began in 1975, prompting the government to predict GDP will rise 13 percent to 15 percent in 2010 (Bloomberg,2010)Figure 8 Singapore GDP Growth rates 2007/2010CUsersDickeyDesktopSingapore facts11-10-2010 1-48-36 PM.pngCUsersDickeyDesktopSingapore factsgdp.pngSource Trading Economics (2010)Singapores two integrated resorts are a major boost to the countrys economy , said Prime Minister Lee Hsien Loong. The Prime Minister said he is glad that visitors are generally happy with the IRs. He added that the IRs have created buzz and both were packed with visitors on their opening days, creating many jobs in the hospitality and tourism sector. (Channel News Asia, 2010)In the case of the tourist- rivald services, like Hong Kong, Singapore has enjoyed a big bounce in tourist arrivals during the first 5 months of 2010, and theres an purposeless boost from the Integrated Resorts opening. Jimmy Koh, head of Economic-Treasury look into, United Overseas Bank, said Most of us are still expecting a moderate 5 to 6 more per cent growth for 2011. This will put Singapore on track to possibly becoming the worlds fastest growing economy, surpassing even China. On an annualized and seasonally adjusted basis, Singapore economy expanded 26.0 per cent in the April-June period (Channel news Asia, 2010)Figure 9, 10, 11 Visitors arrive 2009/10. 2008/09. 2009/10CUsersD ickeyDesktopSnag itjuly 2010 visitors.pngCUsersDickeyDesktopSnag itVisitor10-23-2010 2-22-36 PM.pngCUsersDickeyDesktopSingapore factsvisitors arrivals.pngTourism in Singapore is anticipate to experience a boom this year due to Integrated Resorts. Industry players say there are now over 950 travel agents in Singapore an increase of over 100 from previous year. Travel agents told Media Corp that there are now more queries on visiting Universal Studios Singapore, Casinos and Hotels. Some operators are also increasing investments to expand their businesses and gain a bigger share of the tourism dollar. The two integrated resorts are expected to bring in more tourists to Singapore in the next one to two years. (Channel News Asia, 2010)2.3 Compulsive GamblingAs reported in instantly? on 27 August, 2009, Singaporeans have a dear for gambling. Singaporeans reportedly indulged in gambling, such as 4D, TOTO, and Football betting and horse-racing. Their growing appetite for gambling lot an increase of 3.6% in betting and sweepstakes duties, totaling S$1.4 billion (4D accounted for S$1.1 billion). Individuals claimed S$19 billion in reliefs (for example CPF, child, caregiver, maid levy, NS man) 218,600 people with assessable income of over S$20,000 did not have to pay tax (Today, 27 Aug, 2009).Figure 11 People Queuing outside Singapore PoolsCUsersDickeyDesktopSingapore factsSingapore pools.pngSource Today 2009PM Lee Hsien Loong at Parliament Sitting, 18 April 2005. Integrated Resorts (IRs) are a significant proposal to boost our tourism industry. The government has been reading this idea for over years. The slew has been debated intensely, both among the public and within the government, because the IRs has a gaming component that is a cassino. Many Singaporeans have spoken up both for and against.One of the key issues would be compulsive gambling as a social impact of having a casino in Singapore. So there will be the casino regulator. The Ministry of plate Affai rs set up a new regulatory agency to regulate the casino. The casino regulator will put in place a strict regulatory to ensure that the casino remains free from criminal influence and that illegal activities on the premises are kept under control.Singaporeans love for gambling could be issue as people would have a compulsion for gambling. Casino gaming is becoming widely available around the world and Singapore, intention is not to develop a gambling attraction that compete in the gambling market (Lee, 2005). The Integrated Resorts in Singapore will not be like the gambling facilities in Macau or Australia, which mainly cater to local patrons. One possible model for Singapore is a premium themed mega-resort, which has a large scale development that takes advantage of beach and marina settings to create a truly get-away holiday feel for visitors.The Integrated Resorts are having issues raised include concerns that the casinos is resulting in increased compulsive gambling and undesira ble activities linked with gambling such as loan sharks and organized crime.In what is said to be one of the biggest losings yet at a Singapore casino, a local businessman lost $26.3 million over three days of gambling in June 2010. This include a staggering $18 million that he lost in one day alone. (Today, June 2010). These are the signs of compulsive gambling.Singapore love for gambling can become a compulsive gambling issues and casino industry in Asia has been booming over the years, both legally and illegally, despite moral and unearthly barriers in legalizing and operating gambling facilities for recreation. Now the Integrated resorts being operating in Singapore which gives the residents of Singapore to gamble but with a levy charged upon entry. Singapore has being the hub for gambling for several years as shown in the figure below before the Integrated Resorts even, but now it is legally allowed by legality to gamble with responsible gambling.Figure 12 Gambling Participa tion Rates by Type of Games (%)CUsersDickeyDesktopSingapore facts11-15-2010 10-17-29 PM.pngSource Gambling Survey 20082.4 theoretic frameworkBased on the theoretical framework the theoretical framework is there to test the validity of an existing theory. It is easier to understand the theoretical framework if it is viewed as the answers to the composed interrelated concepts.Revitalize Singapore TourismIV 1Socio Economic perceptive of Singapore Integrated ResortsDVBoost Singapore Economy and TourismIV 2Compulsive GamblingIV 32.5 supposition DevelopmentHypothesis development is necessary as it shows a relationship between two or more variables expressed in the form of testable statement. (Sekaran, 2003 pg 103). Based on the research base the final independent variable and dependant variable are as follows.Revitalize Singapore Tourism. (IV 1)Boost Singapore Economy and Tourism. (IV 2)Compulsive Gambling. (IV 3)Socio Economic perceptive of Singapore Integrated Resorts. (DV)2.6 Null hypothesis intercommunicate by = 0Finding There is no relationship between the IVs and DVThe null hypotheses represent that the independent variable (IVs) and do not have effect on the outcome of Dependent Variable DV.Table of Null HypothesesH1 = Hypothesis 1. Revitalize Singapore TourismH2 = Hypothesis 2. Boost Singapore Economy and TourismH3 = Hypothesis 3. Compulsive Gambling= 0 = = HoH1= HoThere is no significant effect of Revitalize Singapore Tourism on societal Economic perceptive of Singapore Integrated ResortsH2= HoThere is no significant effect of Boost Singapore Economy and Tourism on sociable Economic Perceptive of Singapore Integrated ResortsH3= HoThere is no significant effect of Compulsive Gambling on Social Economic Perceptive of Singapore Integrated ResortsAlternative HypothesisAddressed by 0 meaning that HoFinding There is either negative or positive relationship between the IVs and DVProcedure The alternative hypotheses represent that the outcomes are different from zero in particular, it could be greater (positive) or lesser (negative). As a result, IVs positively relate to the DV if alternative hypotheses greater than zero and negatively relate to the DV if alternative hypotheses lesser than zero. To find out how significant IVs positively or negatively relate to DV, Alternative Hypotheses are measured.The alternate hypothesiswhich is the opposite of the null is a statement expressing a relationship between two variables or indicating differences between groups. (Sekaran Bougie, 2003) 0 = HoH1 HoThere is either positive or negative effect of Revitalize Singapore Tourism on Socio Economic Perceptive of Singapore Integrated ResortsH2 HoThere is either positive or negative effect of Boost Singapore Economy and Tourism on Socio Economic Perceptive of Singapore Integrated ResortsH3 HoThere is either positive or negative effect of Compulsive Gambling on Socio Economic Perceptive of Singapore Integrated ResortsResearch stick outThe main aim of this research is to conduct a descriptive study and a coefficient of correlation study. Descriptive research is utilise to obtain information concerning the current status of the phenomena to describe what exists with evaluate to variables or conditions in a situation. The methods involved range from the survey which describes the status, the correlation study which investigates the relationship between variables, to developmental studies which seek to determine changes over time. (Key, 1997)In this research the detective wants to relate the independent variables and the dependent variables. Descriptive study and a correlation study would help in identifying the information, conception a procedure to gather the information and analyze the information with the help of the IVs and DV.3.1 Research MethodologiesIn order to collect the data for my research it is necessary to get an understanding of the data collection methods. There are many research methods but fit to the top ic nature we are doing a qualitative study. Qualitative research is unstructured exploratory in nature based on small samples and may utilize popular qualitative techniques such as group interviews, word association asking respondents to indicate their first responses to stimulus words and interviews For the purpose of this research the survey questionnaire of quantitative research is more effective in collecting and analyzing a huge amount of data. Furthermore the time to collect and study the answers from questionnaire is shorter as well. As a result the survey questionnaire of quantitative is the most suitable method to this research. (Malhotra, 2007)3.2 Data Collection MethodsAccording to the research design we are sacking to the following methodsSecondary Data Secondary data are the existing sources which were produced by earlier researchers for some specific purposes. According to the research topic we are using secondary coil data collections ways as it is from existing s ources. (Blaxter et al, 2001)Primary Data Primary data are original information cool by researchers to fulfill numerous purposes of research. The investigators could collect primary data by using various methods such as direct interviews, interviews through telephone, questionnaires, observations and others. (Macneill and Chapman, 2005)In this research, secondary data will be collected through magazines, journals, publisher reports, company manuals, brochures and annual reports.3.3 Data Collection MethodsIn this research, the researcher uses a questionnaire to gather data due to questionnaire is an effective data collection mechanism when the researcher knows exactly what is required and how to measure the variables of interest (Sekaran, 2003). Data would be collected through magazines, journals, newspaper reports, and brochures.To appropriate data, questionnaires are designed accordingly to specific information needed. In order to be precise, the question will be set as unsubd ivided as possible. The number of question is small and the words are simplified. Before the questionnaire is practiced, they should be pre-tested to see how it works and improved if there is any mistake.3.4 Data abbreviationThe researcher needs an effective data analysis tool to examine the chosen hypothesis at the beginning step. SPSS which stands for Statistics Package of Social Science is considered the best method in statistical analysis. This software allows researchers to enhance their perception of the data and interpretation of the output. (Weinberg and Abramowitz, 2002) The main jobs of researcher are to decide the needed variables before ledger entry the input signal to the software, to select correct statistical tests to analyze data and to interpret the final output results. (Bryman and Bell, 2007)3.5 Pilot-TestingThe purpose of doing pilot testing is to detect weaknesses in design and surfeit in the instrument before it is reach final steps. (Fink, 2003), 12 people s are required to be tested. The pilot tested should monitor the ease with which respondents concluded the questionnaire, and also the ease with respondents to complete the questionnaire (Fink, 2003).4 Ethical issuesWhile conducting survey and interview for the research, the researcher should consider the code of ethical issue. The major responsibility of the researcher is to inform clearly and accurately the surveys purpose and content to respondents so that they can make decision whether they wish to participate.The researcher should also show the respect to the participants by keeping their answers confidential based on the guidelines of the university. Furthermore researcher need to guarantee the data must be used only for this particular report.NoContentMonthNov, Dec2010Jan Feb2010Mar Apr2010Week1,23,41,21,21,23,41,23,41,23,41,21Problem Identification2Literature Review3Research Design4Choice of Methodology5Data Sources6Data Collection7Data Analysis8Writing up outline9Editing1 0Final Document11Binding of Document5 SchedulesFigure 13 Singapore Population .Source Singapore section of StatisticsCUsersDickeyDesktopSingapore facts11-10-2010 2-07-49 PM.pngAnalysis of Singapore Integrated ResortsAnalysis of Singapore Integrated Resorts1 IntroductionSingapore is a small island city with a total population of about 4.98 million. The local population consists of approximately 74.2% ethnic Chinese, 13.4% Malays and 9.2% Indians. The remainder 3.2% is made up of Eurasians and other foreign workers. It is a relatively young population with only 217,000 or 7% of the population currently over the age of 65. This is set to change dramatically from now to 2030 when 800,000 or 18.7% of the population will be aged 65 years and above. The proportion of those between 15 and 45 years currently make up nearly half the population (Singapore Facts and Figures, 2009)The objective of the Integrated Resorts is to strengthen the leisure and entertainment options to enhance Singapore s reputation as a must-visit destination for leisure and business visitors. The Integrated Resorts will be part of a larger spectrum of tourism products and are developing to enhance our destination appeal, and will enhance the tourism industry and economy. (Ministry of Trade and Industry, 2010)The Gross Domestic Product (GDP) in Singapore expanded at an annual rate of 24.00 percent in the last reported quarter. From 2007 until 2010, Singapores average quarterly GDP Growth was 7.62 percent reaching an historical high of 45.70 percent in March of 2010 and a record low of -12.50 percent in June of 2008. Singapore along with Hong Kong, South Korea and Taiwan is one of the Four Asian Tigers. Singapore has a highly developed and successful free-market economy. It enjoys a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing service secto r. This page includes Singapore GDP Growth Rate chart, historical data and news. (Trading Economics, 2010)There are over 7,000 Multi-National Corporations (MNCs) with operations based in Singapore, 4,000 of which are regional headquarters (Singapore Facts and Figures, 2009).Definition of Socio EconomicsIn most cases, socio economists focus on the social impact of some sort of economic change, which is basically a study of the relationship between the economic activity and social life(Davis et al, 2008). Involve both economic and social factors.1.2 Objectives of the ResearchThe main objectives of this research are to understand the Socio-Economic Perspective of the Singapore Integrated Resorts. This research deals with the socio-economic factors that have potential impact of the Singapore Integrated Resorts. Its focus is to investigate and analyze the socio-economic impact. Identify and evaluate the significance of the social and economic factors of the Integrated Resorts. For instan ce gambling addiction, money laundering, Revitalizing of Singapore Tourism Industry and Boost in Singapore Tourism and Economy.The objective of this research to understand the socio economic perceptive of Singapore Integrated resorts, would they have bad or good effect to Singapore and understand the factors how these factors have positive or negative effect on Singapore.1.3 Research FocusThe Focus of this research is to understand the Socio-Economic perceptive of the Singapore Integrated Resorts. The main aim to understand how, the impacts of the Singapore Integrated Resorts can play a vital role in the socio and economic ways.Revitalizing Singapore TourismBoost for Singapore Tourism and EconomyCompulsive Gambling1.4 Research QuestionsIn this report we have to invest the socio economic- perceptive of Singapore Integrated Resorts and the effects of these socio and economic perceptive could be negative and positive.How the Integrated Resorts would help in Revitalizing Singapore Touri sm.How the Integrated Resorts would help in boosting Singapore Tourism and EconomyHow the Integrated Resorts could cause Compulsive GamblingChapter 2Literature ReviewThe purpose of literature review is to make sure that we analyze the Socio Economic- Perceptive of Singapore Integrated Resorts and the purpose of the literature review is to select promising measure, methods (Mamchak and Mamchak, 1994)The Integrated Resort (IRs) is undoubtedly a necessary step to Singapores future economic viability. As Singapore has no natural advantages, it must capitalize its ability to stay at the front of the global economy, with focus to attract foreign investors, tourists and talent. Surveys have suggested that Singapore is seen as unexciting compared to other travel destinations, and has been labeled as conservative, moderate and stale concentrating on traditional cultural projects like the Asian Village, Tang Dynasty and Haw Par Villa, and failing to move on with new innovations (Straits Times , 2005).Identify and highlight the important variables and document the significant results of earlier research that will serve as the basis on which the theoretical framework of the investigation can be built and the hypothesis developed (Sekaran, 2003). Based on the research objectives, the researcher will provide relevant concepts in the review of current literature in this chapter.Revitalizing Singapore TourismSingapore achieved good growth in visitor arrivals of 4.6% during Jan-May 2008, visitor arrivals to Singapore started to decline from June 2008 coinciding with the economic downturn. September/October saw a slight pickup in arrivals due to the 2008 FORMULA 1 SingTel Singapore Grand Prix. Stronger arrivals from West Asia (+15.5%), South Asia (+5.6%), Oceania (+6.6%) and Europe (+4.5%) also helped to cushion the downward pressure on arrivals. As a result, Singapore ended the year with a marginal decline of 1.6% in arrivals to reach a total of 10.1 million visitor arrivals. V isitor arrivals to Singapore fell by 4.5% year-on-year in July 2009 to reach 881,000 visitors. Visitors days were estimated at 4.6% million days, year-on-year decrease of 11.6% in comparison of July 2008 (923,000), The decline in tourism is certainly a concern for Singapore and the solution is to revitalize Singapores tourism and create a unique Singapore niche. There is little point in selling Singapore as a country rich in heritage and culture rather, the Integrated Resorts will market the modern entertainment, vibrant city life, and a constantly changing environment Singapore can best call her own (Singapore Tourism Board, 2009).Figure 1 Decline in tourism in 2008CUsersDickeyDesktopSingapore factsdrop in numbers.pngSource Singapore Tourism Board, 2010Singapore Tourism Boards (STB) can see the potential attraction of the Integrated Resort as an economic case to revitalize the tourism attractions which have become luster over the years. The two Integrated Resorts can bring more pro spective investors and they could invest up to some $5 billion and create about 35,000 jobs for the whole economy. (Ministry of Home Affairs, 18th April, 2005)The integrated Resorts played an important role and the visitor arrivals to Singapore registered 18.4% growth to reach 947,000 in September 2010, the highest number of arrivals received in the month of September. This also marks the tenth consecutive month of record visitor arrivals. This months visitor arrivals can be partly attributed to the hosting of the Formula 1 SingTel Singapore Grand Prix, the worlds only Formula One night race and the draw of the many leisure and entertainment events under the Grand Prix Season Singapore 2010 (Singapore Tourism Board, 2010).China is ranked third among the top 15. There is good potential for the Chinese tourists market. With the rise of China and the influx of middle-income Chinese tourists the segment with the largest growth potential, in which most are willing to gamble at the gaming tables, the IRs would become more crucial than ever. The Feedback Unit itself has ascertained that Singapore wants an iconic destination resort that offers world-class entertainment and leisure facilities not a mere gambling facility like Macau.Figure 2 Visitors arrival 2009/10CUsersDickeyDesktopSingapore factsvisitors arrivals.pngSource STB 2010Figure 3 Visitors arrival top 15 markets 2010CUsersDickeyDesktopSingapore factsvisiots arrival 2010.pngSource STB 2010Figure 4 Visitors arrival 2007/08CUsersDickeyDesktopSnag itVisitordec 07,dec08.pngSource STB 2010The socio economic perceptive of Singapore Integrated Resorts have really revitalized the tourism sector of Singapore as shown in the figure above and the tourism industry has grown rapidly as there are a lot of visitors coming to Singapore to check out the new Integrated Resorts, leisure and recreation purpose.Singapore had rapid hotel growth and development over the past two years with the openings of The St. Regis Singapore (A pril 2008), Capella Singapore (March 2009), Integrtaed Resorts and the Fullerton Bay Hotel Singapore. The hotels are doing very good business as their occupancy rate has really grown up and they are performing well. The new hotel openings come at a time when visitor arrivals numbers to Singapore are seeing an increase. The destination saw visitor arrival numbers increase by 30.3 percent to 946,000 visitors total in May 2010, compared to the same period last year, which saw 726,000 visitor arrivals. May marked the sixth consecutive month during which Singapore saw record tourism arrival numbers. The country expects to reach its goal of at least 11.5 million total visitor arrivals by the end of 2010 (Travel Age West, 2010) Average Occupancy Rate (AOR) posted a 5.2 percentage point increase over September 2009 to reach 82% in September 2010. (STB, 2010)Figure 5 Hotels average occupancy 2009/10CUsersDickeyDesktopSingapore factshotel occupancy in 2010.pngSource STB, 2010Average Room Rate (ARR3) increased by 13.1% over September 2009 to reach an estimate of S$233 in September 2010.Figure 6 Average Room Rate 2009/2010CUsersDickeyDesktopSingapore factshotel arr.pngSource STB 20102.2 Boost Singapore Tourism and EconomyThe Integrated Resorts brings in entertainment and conventions, hospitality and retail outlets, which will help to increase the demand for hotel services, greater patronage at restaurants and heightened convention and exhibition activities. Studies and surveys have shown that tourism numbers and spending increase with the development of IRs. The Integrated Resorts in Singapore is not like the gambling facilities in Macau or Australia, which mainly cater to local patrons. One possible model for Singapore is a premium themed mega-resort, which has a large scale development that takes advantage of beach and marina settings to create a truly get-away holiday feel for visitors and localsSupporters of Integrated Resorts have claimed that tourists duration and r epeated visits would also increase. Singapore Tourism Board also supports the project, as it believes that the IRs has help to boost the tourism industry and enhance Singapores attractiveness as a tourism destination. Being among the top-three visitor-generating markets, China (with increasing number of middle-class), and Japan (with existence of high rollers), serve as attractive target segments for Singapore (Singapore Tourism Board, 2009).There has been a great change from the paradigm over the past century. Governments and developers around the world have caught on the race to mastermind, create and develop Integrated Resorts and Entertainment which creates positive value propositions and potential growth to the countrys image and economic strength of Singapore.Between 1993 and 2002, tourisms contribution to GDP dropped from 6.1% to 3%, and our share of the Asia Pacific tourist flow fell from 8% in 1998 to 6% in 2002. Extremely moderate.Figure 7 Assessing the Economic ImpactsInt egrated Resort Assessing the Economic ImpactsTotal Revenue of about $ 270 million, of which $212 million are derived from gaming activatesContribution to GDP of about $500 million, which is 0.4 of Singapores 2003 GDPEmployment of people of 3600Source Forecast by Assoc Prof Winston Koh, Singapore Management UniversityThe Singapore Tourism Board (STB) has forecasted its tourism industry for 2010, predicting that between 11.5 million to 12.5 million visitors will arrive, with S$12.6 billion ($9 billion) to S$13.3 billion ($9.52 billion) in tourism receipts. The forecast can be attributed to Singapores dramatic transformation as a result of multibillion-dollar investments in new tourism infrastructure (Singapore Tourism Board, 2010). The Integrated Resorts play a vital role in attracting the visitors through Casinos, Shopping Centers, Universal Studios, different types of Hotels, Convention halls and restaurants.Singapores two integrated resorts are a major boost to the countrys economy , said Prime Minister Lee Hsien Loong. The Prime Minister said he is glad that visitors are generally happy with the IRs as such attractions make the economy more vibrant and the city more colorful. He added that the IRs have created buzz and both were packed with visitors on their opening days, creating many jobs in the hospitality and tourism sector. According to media reports, nearly 200 bus loads of Malaysian tourists a day are visiting the IRs. (Channel News Asia, 2010)Asia in particular is fuelled by rapid growth, economic interest for the business and leisure group. Plenty of investors both local and foreign are becoming aware that Integrated Resorts are now becoming the of city life with important socio economic implications. (Integrated resorts and Entertainment 2010) Singapores growth accelerated to a record 18.1 percent pace in the first half of 2010, spurring the currency and putting the island on course to overtake China as Asias fastest-growing economy this year. Gross domestic product expanded at a 26 percent annualized pace in the second quarter from the previous three months, after a revised 45.9 percent gain in January to March, the trade ministry said today. Growth in the first half was the fastest since records began in 1975, prompting the government to predict GDP will rise 13 percent to 15 percent in 2010 (Bloomberg,2010)Figure 8 Singapore GDP Growth rates 2007/2010CUsersDickeyDesktopSingapore facts11-10-2010 1-48-36 PM.pngCUsersDickeyDesktopSingapore factsgdp.pngSource Trading Economics (2010)Singapores two integrated resorts are a major boost to the countrys economy, said Prime Minister Lee Hsien Loong. The Prime Minister said he is glad that visitors are generally happy with the IRs. He added that the IRs have created buzz and both were packed with visitors on their opening days, creating many jobs in the hospitality and tourism sector. (Channel News Asia, 2010)In the case of the tourist-related services, like Hong Kong, Singapore has enjoyed a big bounce in tourist arrivals during the first 5 months of 2010, and theres an extra boost from the Integrated Resorts opening. Jimmy Koh, head of Economic-Treasury Research, United Overseas Bank, said Most of us are still expecting a moderate 5 to 6 more per cent growth for 2011. This will put Singapore on track to possibly becoming the worlds fastest growing economy, surpassing even China. On an annualized and seasonally adjusted basis, Singapore economy expanded 26.0 per cent in the April-June period (Channel news Asia, 2010)Figure 9, 10, 11 Visitors arrive 2009/10. 2008/09. 2009/10CUsersDickeyDesktopSnag itjuly 2010 visitors.pngCUsersDickeyDesktopSnag itVisitor10-23-2010 2-22-36 PM.pngCUsersDickeyDesktopSingapore factsvisitors arrivals.pngTourism in Singapore is expected to experience a boom this year due to Integrated Resorts. Industry players say there are now over 950 travel agents in Singapore an increase of over 100 from previous year. Travel agents told Media C orp that there are now more queries on visiting Universal Studios Singapore, Casinos and Hotels. Some operators are also increasing investments to expand their businesses and gain a bigger share of the tourism dollar. The two integrated resorts are expected to bring in more tourists to Singapore in the next one to two years. (Channel News Asia, 2010)2.3 Compulsive GamblingAs reported in Today? on 27 August, 2009, Singaporeans have a love for gambling. Singaporeans reportedly indulged in gambling, such as 4D, TOTO, and Football betting and horse-racing. Their growing appetite for gambling drove an increase of 3.6% in betting and sweepstakes duties, totaling S$1.4 billion (4D accounted for S$1.1 billion). Individuals claimed S$19 billion in reliefs (for example CPF, child, caregiver, maid levy, NS man) 218,600 people with assessable income of over S$20,000 did not have to pay tax (Today, 27 Aug, 2009).Figure 11 People Queuing outside Singapore PoolsCUsersDickeyDesktopSingapore factsSi ngapore pools.pngSource Today 2009PM Lee Hsien Loong at Parliament Sitting, 18 April 2005. Integrated Resorts (IRs) are a significant proposal to boost our tourism industry. The government has been studying this idea for over years. The issue has been debated intensely, both among the public and within the government, because the IRs has a gaming component that is a casino. Many Singaporeans have spoken up both for and against.One of the key issues would be compulsive gambling as a social impact of having a casino in Singapore. So there will be the casino regulator. The Ministry of Home Affairs set up a new regulatory agency to regulate the casino. The casino regulator will put in place a strict regulatory to ensure that the casino remains free from criminal influence and that illegal activities on the premises are kept under control.Singaporeans love for gambling could be issue as people would have a compulsion for gambling. Casino gaming is becoming widely available around the wor ld and Singapore, intention is not to develop a gambling attraction that compete in the gambling market (Lee, 2005). The Integrated Resorts in Singapore will not be like the gambling facilities in Macau or Australia, which mainly cater to local patrons. One possible model for Singapore is a premium themed mega-resort, which has a large scale development that takes advantage of beach and marina settings to create a truly get-away holiday feel for visitors.The Integrated Resorts are having issues raised included concerns that the casinos is resulting in increased compulsive gambling and undesirable activities linked with gambling such as loan sharks and organized crime.In what is said to be one of the biggest losses yet at a Singapore casino, a local businessman lost $26.3 million over three days of gambling in June 2010. This included a staggering $18 million that he lost in one day alone. (Today, June 2010). These are the signs of compulsive gambling.Singapore love for gambling can become a compulsive gambling issues and casino industry in Asia has been booming over the years, both legally and illegally, despite moral and religious barriers in legalizing and operating gambling facilities for recreation. Now the Integrated resorts being operating in Singapore which gives the residents of Singapore to gamble but with a levy charged upon entry. Singapore has being the hub for gambling for several years as shown in the figure below before the Integrated Resorts even, but now it is legally allowed by law to gamble with responsible gambling.Figure 12 Gambling Participation Rates by Type of Games (%)CUsersDickeyDesktopSingapore facts11-15-2010 10-17-29 PM.pngSource Gambling Survey 20082.4 Theoretical FrameworkBased on the theoretical framework the theoretical framework is there to test the validity of an existing theory. It is easier to understand the theoretical framework if it is viewed as the answers to the collected interrelated concepts.Revitalize Singapore Tour ismIV 1Socio Economic Perceptive of Singapore Integrated ResortsDVBoost Singapore Economy and TourismIV 2Compulsive GamblingIV 32.5 Hypothesis DevelopmentHypothesis development is necessary as it shows a relationship between two or more variables expressed in the form of testable statement. (Sekaran, 2003 pg 103). Based on the research topic the final independent variable and dependant variable are as follows.Revitalize Singapore Tourism. (IV 1)Boost Singapore Economy and Tourism. (IV 2)Compulsive Gambling. (IV 3)Socio Economic Perceptive of Singapore Integrated Resorts. (DV)2.6 Null hypothesisAddressed by = 0Finding There is no relationship between the IVs and DVThe null hypotheses represent that the independent variable (IVs) and do not have effect on the outcome of Dependent Variable DV.Table of Null HypothesesH1 = Hypothesis 1. Revitalize Singapore TourismH2 = Hypothesis 2. Boost Singapore Economy and TourismH3 = Hypothesis 3. Compulsive Gambling= 0 = = HoH1= HoThere is no signi ficant effect of Revitalize Singapore Tourism on Social Economic Perceptive of Singapore Integrated ResortsH2= HoThere is no significant effect of Boost Singapore Economy and Tourism on Social Economic Perceptive of Singapore Integrated ResortsH3= HoThere is no significant effect of Compulsive Gambling on Social Economic Perceptive of Singapore Integrated ResortsAlternative HypothesisAddressed by 0 meaning that HoFinding There is either negative or positive relationship between the IVs and DVProcedure The alternative hypotheses represent that the outcomes are different from zero in particular, it could be greater (positive) or lesser (negative). As a result, IVs positively relate to the DV if alternative hypotheses greater than zero and negatively relate to the DV if alternative hypotheses lesser than zero. To find out how significant IVs positively or negatively relate to DV, Alternative Hypotheses are measured.The alternate hypothesiswhich is the opposite of the null is a state ment expressing a relationship between two variables or indicating differences between groups. (Sekaran Bougie, 2003) 0 = HoH1 HoThere is either positive or negative effect of Revitalize Singapore Tourism on Socio Economic Perceptive of Singapore Integrated ResortsH2 HoThere is either positive or negative effect of Boost Singapore Economy and Tourism on Socio Economic Perceptive of Singapore Integrated ResortsH3 HoThere is either positive or negative effect of Compulsive Gambling on Socio Economic Perceptive of Singapore Integrated ResortsResearch DesignThe main aim of this research is to conduct a descriptive study and a correlation study. Descriptive research is used to obtain information concerning the current status of the phenomena to describe what exists with respect to variables or conditions in a situation. The methods involved range from the survey which describes the status, the correlation study which investigates the relationship between variables, to developmental stu dies which seek to determine changes over time. (Key, 1997)In this research the researcher wants to relate the independent variables and the dependent variables. Descriptive study and a correlation study would help in identifying the information, design a procedure to gather the information and analyze the information with the help of the IVs and DV.3.1 Research MethodologiesIn order to collect the data for my research it is necessary to get an understanding of the data collection methods. There are many research methods but according to the topic nature we are doing a qualitative study. Qualitative research is unstructured exploratory in nature based on small samples and may utilize popular qualitative techniques such as group interviews, word association asking respondents to indicate their first responses to stimulus words and interviews For the purpose of this research the survey questionnaire of quantitative research is more effective in collecting and analyzing a huge amount o f data. Furthermore the time to collect and study the answers from questionnaire is shorter as well. As a result the survey questionnaire of quantitative is the most suitable method to this research. (Malhotra, 2007)3.2 Data Collection MethodsAccording to the research design we are going to the following methodsSecondary Data Secondary data are the existing sources which were produced by earlier researchers for some specific purposes. According to the research topic we are using secondary data collections ways as it is from existing sources. (Blaxter et al, 2001)Primary Data Primary data are original information collected by researchers to fulfill numerous purposes of research. The investigators could collect primary data by using various methods such as direct interviews, interviews through telephone, questionnaires, observations and others. (Macneill and Chapman, 2005)In this research, secondary data will be collected through magazines, journals, newspaper reports, company manua ls, brochures and annual reports.3.3 Data Collection MethodsIn this research, the researcher uses a questionnaire to gather data due to questionnaire is an effective data collection mechanism when the researcher knows exactly what is required and how to measure the variables of interest (Sekaran, 2003). Data would be collected through magazines, journals, newspaper reports, and brochures.To capture data, questionnaires are designed accordingly to specific information needed. In order to be precise, the question will be set as simple as possible. The number of question is small and the words are simplified. Before the questionnaire is practiced, they should be pre-tested to see how it works and improved if there is any mistake.3.4 Data analysisThe researcher needs an effective data analysis tool to examine the chosen hypothesis at the beginning step. SPSS which stands for Statistics Package of Social Science is considered the best method in statistical analysis. This software allows researchers to enhance their perception of the data and interpretation of the output. (Weinberg and Abramowitz, 2002) The main jobs of researcher are to decide the needed variables before entering the input to the software, to select correct statistical tests to analyze data and to interpret the final output results. (Bryman and Bell, 2007)3.5 Pilot-TestingThe purpose of doing pilot testing is to detect weaknesses in design and content in the instrument before it is reach final steps. (Fink, 2003), 12 peoples are required to be tested. The pilot tested should monitor the ease with which respondents complete the questionnaire, and also the ease with respondents to complete the questionnaire (Fink, 2003).4 Ethical issuesWhile conducting survey and interview for the research, the researcher should consider the code of ethical issue. The major responsibility of the researcher is to inform clearly and accurately the surveys purpose and content to respondents so that they can make decisio n whether they wish to participate.The researcher should also show the respect to the participants by keeping their answers confidential based on the guidelines of the university. Furthermore researcher need to guarantee the data must be used only for this particular report.NoContentMonthNov, Dec2010Jan Feb2010Mar Apr2010Week1,23,41,21,21,23,41,23,41,23,41,21Problem Identification2Literature Review3Research Design4Choice of Methodology5Data Sources6Data Collection7Data Analysis8Writing up Draft9Editing10Final Document11Binding of Document5 SchedulesFigure 13 Singapore Population .Source Singapore department of StatisticsCUsersDickeyDesktopSingapore facts11-10-2010 2-07-49 PM.png