Report: Singapore
Casinos to Boost GDP
As reported by the Agence
France Presse: "Singapore's plans to build
two casinos will bolster its economy over the next
five years, adding 1.8 percent to the city's gross
domestic product (GDP), according to a new report.
"Constructing the resort complexes will trigger
a 'virtuous investment cycle' that will boost the
moribund construction sector and raise its profile
as a global tourist destination, the Business Times,
citing an economic study conducted by a local university,
said.
"The proposed casinos, when completed in 2009,
will up visitor arrivals to the island-state by
10 percent and provide a 20 percent growth in private
construction contracts, the study showed.
"…Singapore, which ended a four-decade
ban on casinos in April, is hoping that the multi-billion-dollar
project would spice up its strait-laced image and
attract more tourists to its shores…"
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