Analysis on Marina Bay Sands

Only available on StudyMode
  • Download(s) : 1765
  • Published : October 4, 2011
Open Document
Text Preview
|G902 Professional Profiling Module | | | |Student Name: Saw Eng Chai Student ID: 104560 | |School: Republic Polytechnic Diploma: Diploma in | |Biomedical Sciences Matriculation Year: 2010 | |Date:6th August 2011 | | | | |

Table of Contents:

Synopsis …………………………………………………………………………...…… (1)

Tourism Industry-(1) An overview.................................................................................. (2)

Integrated Resorts-(1)An overview ………………………………………………….….(4)

-(2) SWOT Analysis ………………………………………………...(5)

-(3) Porter’s 5 Forces Model………………………………………...(6) Conclusion……………………………………………………………………….......….(7-10)

Synopsis:

The objective of this report is to evaluate the benefits and disadvantages of having the Integrated Resorts being part of the island of Singapore using the Marina Bay Sands as an object of analysis. Though the IRs might possibly be a lucrative venture, threats can still hamper its opportunities for potential growth. Therefore,it is necessary for the casino operators to establish a very close relationship with the government so that casino regulations comply with the government’s objectives.Analysis tools like SWOT’s Analysis and the Porter’s 5 Forces Analysis are adopted in this report to identify the internal and external factors which can undermine the IRs feasibility and success.

Due to it’s geographical location, many tourists and foreign investors are attracted to here. The casino licenses issued to us will most probably provide us with potential economic benefits in the long run. However, it is difficult for us to cope with the intense competition locally and regionally. Thus,our gambling industry may have fewer opportunities for further improvement and our goal for generating more revenue for the economy will slowly diminish. Issues have also been raised by the public regarding the social impacts. The most important social concern is gambling addiction and it ought to be addressed to establish confidence in our government and its people.

The IRs will attract many tourists and Singaporeans,resulting in an increase in tourism receipts. Hence, the tourism industry is an accurate determinant of our economy’s growth. In the next page of this report, an insight of Singapore’s tourism industry will be presented to you.

Page 1

An overview of the Singapore’s tourism industry:

Our tourism industry is a one of the major industries in the country which attracts many visitors each year. Certain cultural attractions and tourist destinations are attributed to the cultural diversity which reflects our colonal history as well as our major ethnicities.

The tourism industry of Singapore leads to an increase and enhanced competition from the Asia-Pacific region.In 1998, the Asian Financial crisis caused a major impact on the number of tourist arrivals.Though the problem was solved, the total tourism receipts still did not surpass the records achieved in the early 1990s.In 2002, tourism receipts amounted to $8.83 million which was 25% below the record level of $11.70 billion set in 1995.

Thus, it can be seen that the tourism industry is a major contribution to the country’s Gross Domestic Product. As such, the government is now proposing some strategies to further develop and improve its tourism industry by bringing in some...
tracking img