That and the development of the two integrated resorts with casinos and the Republic hosting Formula One race and Youth Olympics will set to boost the general economy of Singapore especially the tourism and retail industry.
All in all, we set to look a slower growth rate for the 2008. After two years of exuberant growth in the economy, Singapore is looking to move towards the mature growth stage in the coming years. A recession in Singapore is highly not likely in the next 2 to 3 years. What holds after the next 2 to 3 years for Singapore economy is anybody guess.