Even though I just got to Singapore, it is sadly time to leave, so I will take a few minutes to reflect on my time spent abroad. First and foremost, the most interesting that I learned was how Singaporeans view public housing. As opposed to how it is viewed in America, dirty and poor living conditions, it is viewed as perfectly acceptable. Oftentimes, the public housing structures we massive apartment complexes that rivaled the height of skyscrapers. Additionally, during our bus tour through the city, the tour guide pointed out the lack of cars found in Singapore. This is because of the government?s decision to limit the sale of cars to reduce pollution and traffic jams on the small island. Another way the government limits the number of cars is through the expensive price of cars and the ERP. Currently, the average price for a mid-range sedan is about $125,000 and the registration fee is about another $20,000, and that’s not all. The price of gas is about $8 dollars per gallon and due to the Electronic Road Pricing, drivers will be penalized for not taking alternative routes. Another interesting fact that I learned, was that there is no minimum wage or unions present in Singapore. This was the biggest difference that we learned about running an international hotel chain like Mandarin Oriental. The lack of unions and minimum wage made the operating expenses of Asian hotels much less than their American counterparts, giving Asian hotels a higher ROI. Lastly, during our with an investment banking firm, I learned that the Asian stock markets are not as mature or regulated as the New York Stock Exchange, so more fraudulent companies exist in the Asian markets. All in all, through my time abroad, I realized how different Singapore is compared to the US in terms of structures of government, environmental sustainability, military, and business. These differences help Singapore show that the American way is not always the right way, and that us Americans, should look to foreign countries to help us plan out our countries future.
