Singapore Soars

Overall, an unprecedented 173,300 jobs were created in Singapore last year, and not just in high-pay professions. The construction and tourism sectors are also on the upswing. The Marina Bay Sands and Genting casino projects by themselves will add $8 billion of foreign investment. When completed, the developments are expected to create 38,000 service-sector jobs. "We have more than 450,000 citizens over 55 that are underemployed and undereducated," says Dr. Loo Choon Yong, a lawmaker and chairman of the Sentosa Development Corporation. "These are jobs they can do." Today, 68% of Singaporeans work in service industries, according to the Ministry of Manpower.

Despite this economic revitalization, many Singaporeans find the changes their city is undergoing to be bewildering and even threatening. According to public opinion polls, a majority of citizens were against the legalization of gambling, fearing casinos would result in increased crime and other social ills. Today, there's additional anxiety over ambitious efforts to boost immigration. In January, a local newspaper poll showed that 90% of Singaporeans opposed those efforts because they fear losing their jobs to foreign professionals. Nearly 43% said they believe the government is more concerned about foreigners than its own people; they also expressed doubt that Singapore's open-door policy will translate into more jobs. "The backlash comes from so-called foreign talents taking the best jobs without any obligations to maintaining the national good," says National University of Singapore sociology professor Chua Beng Huat.

There's also backlash over the potential impact that an influx of up to a million immigrants could have on society in coming years. Singapore has steadily been adding about 100,000 expats annually since 1990, census data shows. Foreigners now make up about 19% of the city's population, in contrast with Hong Kong, where expats make up less than 8% of all residents. "There are concerns over how in the world Singapore's tiny island and infrastructure will support the increased foreign population and how that will impact transportation, taxes, traffic, housing and schooling for the locals," says Singaporean Cheryl Liew, a consultant for an executive-search firm. One of those locals, Lance Lim, summed up this skepticism in a letter to the local Straits Times newspaper published in March. "We need to seriously consider whether our country is prepared to sacrifice its national identity for supposed economic growth," Lim wrote.

But not everyone is having an identity crisis. Pinchin Kwok chose to return to her native Singapore last year after living in New York for five years. The 28-year-old banker says she came home for "the good life" and that she's excited by the changes. "Many of the reasons people leave Singapore when they are young will be gone," Kwok says. "Life can only become more cosmopolitan and sophisticated. Everything will be less boring." Kwok adds that she expects Singapore will become "more of a melting pot like Manhattan, but at the core will be the heartlanders who've lived here for a long time and can pass along their values."

So maybe Lee Kuan Yew was right when he compared this new Singapore with Venice, London and New York. Those cities grew into giants not by copying blueprints of other capitals, but by being open to fresh ideas and unfamiliar DNA. "Yes, we should study best practices and features from other great cities," says Cheong Koon Hean, CEO of Singapore's Urban Redevelopment Agency. "But, ultimately, we need to seek out answers that best suit Singapore. To find our own soul." With their usual determination, Singaporeans are looking.