One year on, Singapore's Casino industry!

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A year after opening its gambling doors to locals and the world, the results speak for themselves. Billions of dollars have been pouring into the city and it has helped the local economy tremendously. "Singapore has made a dramatic entry to the casino gaming market," financial consultancy PricewaterhouseCoopers said in a report estimating the city-state's casino gaming market at US$2.8 billion in 2010. What is even more splendid about this is the fact that the 2 casinos were opened just when the world was coming out of the worst recession ever witnessed by mankind. Despite those challenges, they were still able to boast amazing figures and the future is looking very good indeed. They have the entire package with Universal Studio opening around the same time, the number of tourists to this small island has gone up and reached around 11.3 million last year. They are going to become the second largest casino market in Asia behind Macao.

They showed real guts to open their doors to the world just when everyone was thinking about saving more money. Not here in Asia, even during the financial crisis, Governments were encouraging people to go out and spend and people did. In China, tourism has gone up a lot and the fact that most of the people are online, makes it easier for them to search for information on new attractions around the region. Everything is looking good for Asia now and with most of the money here being spent here, the future is looking great for Asia too.

Source: http://www.scmp.com

Image: Eustaquio Santimano
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