The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Opinion

Hazy outlook for the Lion City

Singapore smog worst in ten years

Singapore has been hit by the haze: the annual smog caused by forest fires in neighbouring Indonesia is the worst for 10 years and is causing more than just gloomy skies. As the pollution index has hit the unhealthy level, concerns are increasing that the smog might cause health problems not just for its residents but for the economy as a whole.

Tourism already accounts for about 5% of GDP and brings in more than $6 billion annually. The government has ambitious plans to triple tourism receipts within 10 years, including the development of two enormous gambling and hotel developments, euphemistically dubbed integrated resorts.

The local economy had already begun humming from the expected surge in investment in the resorts and the anticipated increase in tourism, especially among the lucrative mainland Chinese market. Property prices, long stagnant, have started to move and the economy looks set to grow at a sprightly pace in 2006.

The long-term effects on the economy of the smog that hits Singapore at the same time every year are, like the skyline, unclear. In fact, the Lion City has more recently been a beneficiary of polluted skies: those over southern China.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree