The above statement is true. Our biopolis and Research & Development institutes are keenly interested in the pharmaceutical industry right now. As we all know, it is an extremely lucrative industry standing shoulder to shoulder with the oil industry right now. Furthermore, Singapore, being one of the pioneers leading the change, we can't possibly give up this chip of gold right in front of us.
In addition to that, we are all infatuated with the myriad of electronic devices out there. Recently, M1, a telecommunication giant in Singapore, is intending to release iPhone soon somewhere around 2010. I surmise that there will be uproar between M1 and Singtel from then. Prices will drop and more competition will arise between these 2 giants. But, one thing for sure, sales will surge like never before !
First and foremost, I am a Singaporean, so I know best on this one.
Not to be pompous or what, but I can still afford branded goods at the moment and I'm still going on a shopping spree here. People continue to rush for housing even at the expense of giving up the credit scheme. Here in Singapore, we focused more on the location and the future prospects of the house.
For instance, an Integrated Resort will be located at Marina Bay in 2010, you can see people rushing to the area for housing even though it costs millions just to get a house there, but the point is, the price of the houses there will probably be inflated by at least 50% 2 years down the road.
Our spending power remains strong and you can still see a plethora of people in shopping malls with branded bags and purchases on their hands. So I don't see why is it a problem for us to recover and get back on our foot easily.
Let's not be so pessimistic, we can easily get up!
Credits -markewatch, -toursingapore, -estandardsforum
No comments:
Post a Comment