“In particular, Singapore’s position as a global business node depends on our connectivity as an air hub. The Changi Air Hub and its adjacent industries contribute to over 5% of Singapore's GDP and employ more than 190,000 people. Tourism adds vibrancy to our retail and F&B sectors,” he notes.
Of the sectors impacted by the Covid-19 pandemic, three in particular – aerospace, aviation, and tourism – have been hit the hardest.
Not only that, but the sectors are also “important parts of our economy”, says Deputy Prime Minister and Finance Minister Heng Swee Keat, in his live telecast on August 17.
