The island state of Singapore is steadily taking centre stage in the region’s booming art market, a trend reflected in the exhibitions the country now hosts.

Originally posted here:
Singapore seeks to lead regional art market

While several Asian countries have made great strides to develop their domestic art markets,  with galleries and art fairs mushrooming in Shanghai, Hong Kong, Jakarta, Korea and New Delhi, collectors outside Singapore tend to focus on art from their own country.

Singapore is also set apart from its Asian counterparts by its established position as a centre for private wealth management. And now, in its international range of art, it could also have developed a competitive edge on its trade and finance rival Hong Kong.

Foreign direct investment has decelerated markedly in Thailand, but inflows should continue in 2009 and 2010 due to the secular trend to move production away from advanced economies.

Key risks to the outlook are political uncertainty and the timing of the withdrawal of fiscal and monetary stimulus. Increased political tensions may have a long-lasting impact on investment, and withdrawal of stimulus (in Thailand and the advanced economies) must be precisely timed to avoid macroeconomic imbalances (including new asset bubbles) while also ensuring that the recovery is on a sufficiently solid footing.

singapore
The island state of Singapore is steadily taking centre stage in the region's booming art market, a trend reflected in the exhibitions the country now hosts.

Automotive exports – the second largest item in the country?s exports after electronics – fell sharply early this year by about 45 percent from a year before. (During 2009, exports slumped through May before rebounding in the third quarter, although data of late suggest some leveling off of foreign demand.) Compared with electronics, automotive exports are half as large in value but have twice as large value-added per unit of output, leaving the contributions of both sectors to GDP about equal.

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

You May Also Like

Establishing a Family Office in Singapore

The latest issue of ASEAN Briefing Magazine, titled “Establishing a Family Office…

Galaxy and MGM ready to roll the dice in Thailand

The two casino operators, Galaxy and MGM, are apparently keen to tap into Thailand’s potential as a gaming hub in Southeast Asia. Both companies have established local offices in Bangkok and have been conducting market research and lobbying efforts, according to sources.

Singapore retains its position as the Top Business Environment in the World

The biggest improvements over the past year are in Vietnam, Thailand, Belgium, Sweden, India and Costa Rica. Vietnam is the overall biggest mover worldwide, climbing 12 spots in the rankings, while Thailand improves by ten places and India by six.