DECEMBER 20 — So, after months of Covid-19’s unprecedented economic contraction, restrictions and the embarrassment of large-scale transmission within foreign workers' dormitories, our leaders have pulled off a real triumph.
The World Economic Forum (WEF) — summit of the most powerful world and business leaders — will be hosted in Singapore in 2021.
Since its inception in 1971, the event has always been held in the Swiss resort of Davos, save for one year when it was held in New York.
Basically, by hosting perhaps the most prestigious annual gathering of the world's elite Singapore has made clear its economic ascendancy.
In moving the WEF from the heart of Europe to the heart of Asia, we see recognition of the economic rise of Asia and acknowledgement that Singapore is now the pre-eminent Asian hub.
It draws global attention to the fact that we have controlled the coronavirus better than any other competing major city; New York, Tokyo, Seoul, London, Paris, Hong Kong cannot say they have brought community transmission to near zero.
As the pandemic drags on, few centres can think about hosting large-scale conferences but Singapore has the infrastructure, the connectivity, the organisation, capital, and safety to do just this.
There is even a case to be made to move WEF permanently to our shores. Why confine the gathering to a small relatively inaccessible
While one gathering of the rich and powerful won’t be enough to undo the unprecedented contraction to our GDP 2020 has wrought, the WEF will be a symbol of our relative success and unique strengths.
And by securing this one gathering, we are well positioned to attract more and more major conferences, and meetings — and this will certainly boost the local hospitality sector next year.
In the midst of this triumph, we must remember it is the sacrifice of ordinary Singaporeans and foreign workers — adhering to rules, working on the frontlines — that got us to our Covid-free status.
And while for many Singaporeans it will be hard to get excited about a gathering of global economic elites, the truth is this is good news.
Singapore has really arrived at the absolute centre of world trade and it's impossible for the world to ignore this fact.
More gatherings, conferences and gradually more corporate and organization offices will flock to our shores, bringing yet more capital and jobs.
This will bring more opportunities for ordinary Singaporeans.
* This is the personal opinion of the columnist.
