Here is proof that the worldwide credit crisis has hit Singapore. The Marina Bay Sands integrated resort is several months behind schedule due to higher construction cost and its opening will be delayed.
Awarded to Las Vegas Sands, the Marina Bay Sands integrated resort is supposed to be one of the new attractions for tourist entering Singapore and a new source of jobs for Singaporeans. So much for that idea.
With the unemployment rate in Singapore expected to rise, this is bad news for Singapore.