THE SINGAPORE 24HOUR CONCEPT: A LOOK INTO THE FEASIBILITY OF THE NIGHT-TIME ECONOMY IN SINGAPORE

Abstract

In an attempt to position Singapore as a leading global city, the Economic Strategies Committee recommended the development of economically and socially vibrant districts. This was probed by lags in global city standards for culture and catalysed by the major shift of focus in the global cultural landscape towards Asia. Consequently, it mooted budding efforts by the Urban Redevelopment Authority (URA) such as Marina Bay. Marina Bay was envisioned as an iconic 24/7 “Live-Work-Play” district that instils vibrancy and encapsulates the essence of a global city. In short, it is imperative to look into the feasibility of the 24hour concept in Singapore as well as it expansion, hence the motivation of this paper. The study adopted an exploratory research method known as triangulation due to the limited precedent research done locally. This included a case study on Auckland, an observational study on Shanghai and a survey conducted locally. These studies revealed insights about the management issues relating to the success of the nighttime economy (NTE). It was found that factors such as safety, demographics, transportation and legislation had significant impacts on the degree of participation and vibrancy of night-life. The lessons learnt were then transposed and evaluated in the local context, producing interesting findings. Additionally, a regression of the survey results and demographics pointed a youthcentric NTE. This resulted in dissatisfied respondents hoping to have greater variety that catered to their taste and preferences. This apparent demand further validated the push for the NTE. However, its feasibility has been stumped by the limited supply of viable night-time activities as mentioned and a preference for central locality. This is because its extension conflicted with residential living due to the presence of negative externalities. All in all, if Singapore is serious about the stated motive it would have to ii be sensitive above the above mentioned success factors that influence vibrancy and increase supply of suitable offerings.