Changi Airport and its Economic Contribution

Added on - 13 Apr 2020

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Running head: GLOBAL ECONOMIC POLICIESGlobal Economic PoliciesName of the StudentName of the UniversityAuthor Note
1GLOBAL ECONOMIC POLICIESTable of ContentsIntroduction......................................................................................................................................2Changi Airport and its economic contribution................................................................................2Competition faced by Changi Airport.............................................................................................3Role of Changi Airport in development: Present and Future..........................................................5Conclusion.......................................................................................................................................6References........................................................................................................................................7
2GLOBAL ECONOMIC POLICIESIntroductionIn the contemporary global economic scenario, several countries have emerged as thenew economic giants, showing highly impressive trends in aspects of economic growth,productivity, employability, industrial growth and overall increased welfare of their residents.One of such economically growing countries in the recent periods is that of Singapore(Tremewan, 2016). The economy of Singapore is the most open economy in the world and is oneof the least corrupt ones in the international scenario. The country, over the years, have shownsignificant growth in economic and welfare terms, much of which can be attributed to the robuststrategic framework and the economic policies taken by the governing authorities of the country(Rodan, 2016).One of the most outstanding as well as economically contributing aspects of this countryis the Changi Airport, which stands as the centre of attraction of the populous and commerciallybusy economy of the country and is one of the biggest facilitator and contributor to the economicprogress of the country in the recent years. The airport, has been evolving and modifying sinceits establishment and has been winning the title of the World Airport of the Year, for fiveconsecutive years, including 2017 (Hwang & Low, 2012).The report tries to discuss the unique characteristics of the Changi Airport and sheds lighton its contributions, not only in facilitating business and progress of the economy, but also increating new sources of employment and industrial linkages of the same with aviation relatedsectors, thereby contributing to the progress of the country (Bok, 2015). In light of economictheories and conceptual frameworks, the report also tries to highlight the competitions, which theairport faces in the cotemporary commercial scenario and tries to recommend ways in which itcan stay ahead and contribute in the overall economic development of the country.Changi Airport and its economic contributionSince its establishment in 1981, the Changi Airport has expanded its domain ofoperations significantly with time and has grown at par with the progress and economic andcommercial growth of the country. The airport served to more than 100 airlines, flying to andfrom 270 cities across the world, thereby establishing commercial relationships with above 60
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