Once they were lumped together with Korea and Taiwan and were known as Asian Tiger Economy. This was before the era of China economic dominance. But as time goes by, South Korea pushes up its ladder as it emerged the strongest among the four. Unfortunately for Singapore and Hong Kong, their lack of domestic economy does not augurs well to becoming an economic superpower.

None the less, often the two cities had been compared over and over again. Both face a chronic shortage of land. Properties come at a premium over other Asian locations. Both has GDP per capita that is among the highest in the world. Both were traditional entrepeneurs dealing mainly with entreport business and position themselves as regional financial hub outside Japan.

But as the world changes with the continued economic dominance of China, businesses take on other forms. Hong Kong being reunited with its motherland has now been given a leash of life. Though politically they have limited freedom given that its people are not allowed to vote, but they are given the power to rally protests on streets. Whereas Singapore, even though there are freedom to vote, their people are not allowed to demonstrate on issues which are not aligned with the government’s policies.

With Hong Kong now becoming a financial hub for China along with Shanghai, Singapore has lost its shine as being the hub in South East Asia. Not least because of its troubled foreign relation policies which seems to be reoccuring with some of its closest neighbour.

Singapore had to resort to opening up a new economy. Integrated resorts might provide them a key for future existence. It will bring more jobs to the island nation and provide more activities for its tourism sector. One immediate beneficiaries so far has been the property development companies which has seen prices near both integrated resorts skyrocketing.

It is a fact that Singapore economy is flexible and adaptable to the changing needs of the world. The government policy in pushing for a bigger population will help to develop a small but stable domestic economy. The fact that their policies in inducing foreigners to make Singapore their home may prove to be succesful given that Dubai has implemented extremely succesful semi-migrants schemes (though foreigners are not allowed to take up citizenship there as opposed to Singapore’s migration policies).

So will these two tigers continue to roar in the coming decade?