Gambling Industry Essay Example | Topics and Well Written Essays - 2500 words

Gambling Industry - Essay Exampleingapore Government in order to introduce the casinos officially in the international market was in 2005 by providing licenses to two of the casinos in Singapore. There were many controversies and remarks that went against the policy but like a shot after taking proper legal actions and control the government have recorded to generate large incomes in terms of tax revenues from the gamblers. Another agent why gambling is so important for the economy is that it attracts customers from all around the world. Therefore, it enhances the growth of tourism sector, which is another major contributor to the Singapore Economy.This paper in this regard is focused on the challenges of the international market and the competencies of the gambling industry in Singapore. Conclusively the paper shall also direct to evaluate the limitations and drawbacks that can come up to be affective for the growth of the industry and try to suggest the economy to eradicate thos e factors. On this behalf, the paper shall also consider the Porters infield Model to analyze the competitive edge of the gambling industry of Singapore.Geographically emphasizing, Singapore is a country originated by the amalgamation of 63 islands in wide and is termed to be the smallest country situated in the south eastern hemisphere of Asia. According to the economists view, Singapore is a exploitation economy, mixed by its nature, with a marginal interference from the part of the Government in its trading market. Mentionable, the economy ranked to be second among the economies possessing the best potential for international investment with the outlook to be most welcoming and liberal for the international trading business. Undoubtedly, despite the fact that the economy is geographically small, it is economically powerful as any other developing economy to attract the international trade (Economy Watch, 2010).The economy, in a wider perspective rather than international inve stments, is depended on the agricultural