With the government looking to provide more jobs to the local workforce, business stakeholders in partnership with the Singapore Tourism Board have come up with an initiative that not only would support the government’s cause in creating more jobs for the people but also give the much-needed boost to the non-gaming offerings of the country’s tourism industry.
This should be a positive sign mostly for the locals since the government has already expressed plans to put a hold on the hiring of expat workers, particularly S-Pass holders, in the services industry starting this year.
5,000 New Jobs to be Created with SGD 9-billlion Expansion of Integrated Resorts in S’pore
In light of this plan, the government announced that up to 5,000 new jobs will be directly created along with the $9-billion expansion of Resorts World Sentosa (RWS) and Marina Bay Sands (MBS), as shared in a report by the Straits Times.
The new jobs will be among the many gains which the initiative will bring along with more tourists and a much-needed boost in the hospitality sector, according to experts.
According to the report, the government looks to extend the exclusivity period for the casinos at MBS as well as RWS to operate until the end of 2030.
By this, both resorts are expected to generate combined revenue of SGD 9 billion to expand their on-gaming offerings in exchange for the said extension.
Among the highlighted plans under the integrated resorts expansion scheme includes three more hotels, two new zones in the Universal Studios Singapore theme park in Sentosa, as well as a 15,000-seat indoor arena.
According to experts, while Singapore tourism is on the up, the sector cannot be complacent as there has been a surge in the competition within the region.
They also noted that because other countries are “doing quite well” in drawing tourists, guests and visitors now have more options to choose from. Therefore the important move to refresh Singapore’s tourism offerings is necessary so as not to easily lose its competitive edge.
The said resorts which opened in 2010 have already generated SGD 5.5 billion for the economy since, and they have directly provided jobs to around 20,000 people – more than 65% of which are locals – and further support at least 40,000 jobs in the country.
A third of the numbers held by Singaporeans are positions for professionals, managers and executives.
Of note, RWS expects to support the workforce with at least 2,800 new jobs, while MBS could employ 1,500 to 1,800 more staff through its expansion.