Sunday, January 20, 2008
The dome picked for Sports Hub
Please refer to the following website:
http://www.straitstimes.com/Free/Story/STIStory_198124.htmlComments on the article:
I'm not interested in commenting about who has the right to run the sports hub, but i'm more concerned about the budget needed to build it. Certainly, a large amount of money is being invested into this particular project. However, this did not deter the government's efforts to do so.
Marginal benefits: As stated, "Singapore needed an icon that would draw in top sporting talent, and create jobs and a lifestyle in sync with a sophisticated service economy" This will not only further reduce unemployment rates in Singapore, but it will also boost and generate growth in the service industry and allow more Singaporeans to enjoy a higher quality of living. This allow Singapore to maintain its competitive edge on the global stage.
Marginal costs: Needless to say, i think it may be the space and money required to develop other sectors of the industry e.g. more shopping malls to generate growth in the retail industry or science parks to promote technology-intensive, higher value-added manufacturing activities in the electronics, chemical engineering and engineering fields. . The land needed to create more living spaces for Singapore's growing population is also foregone.
However, the marginal benefits exceeded the marginal costs. A vibrant sports industry contributes to the economy and sustains the sports delivery system.
As quoted,
'This is an investment and this is money well spent,' he told reporters gathered at The Ritz-Carlton hotel for the announcement of the winning design.
P.S he refers to Dr Vivian Balakrishnan, Minister for Community Development,Youth and Sports.
Done by: Ling Ling =)
11:32 AM
