Singapore Casinos Create 20,000 JobsPublished October 26, 2008
The global economic outlook may be bleak but 20,000 new jobs will soon be created thanks to Singapore's soon to be thriving casino industry
Casino industry provides hope - In the midst of a severe economic crisis comes a ray of hope. Two mega-casinos set to open their operations in Singapore will need up to 20,000 employees. The casinos in question are the Marina Bay Sands and the Gentings Resorts World at Sentosa.
The human resources departments of these resorts have begun hiring in earnest with up to 3,500 people already having applied to work in Singapore's first-ever casino. Everyone from housewives to hotel and admin executives began applying for work at the new resorts - as many of half of them applied via a national hotline.
The US based casino have reached out to the nation's poorest and most neglected communities in their search for employees - a move appreciated by the island nation.
Crisis unfolds for corporate employees
Not far from the recruitment drive, several corporate executives from Merril Lynch were seen packing up their belongings. This comes hot on the heels of major retrenchments, divestitures and layoffs worldwide.
The casino industry is predicted to take off just at the right time, with fears of global recession now becoming a hard reality for many. Jobs are scarce and Singaporeans are grateful for the opportunities being provided.
Despite some opposition, many people are now in favor of the job creation prospects. If predictions stand true, then economic growth could increase by 2% and tourism could yield a further $30 billion in revenues within 7 years.
Casino gambling policy
There is presently a 10-year ban on the establishment of further casinos - a reality that will certainly allow these two to flourish. Calls for more casinos have rung out as pundits believe that prosperity and tourism will occur as a result of the new ventures.
There are safety measures in place to ensure responsible gambling with as many as 29,000 gamblers already barred from entering the casinos. A fee of $100 will be charged for entry - perhaps an effective deterrent against lower-income earners gambling with their family's livelihoods.