Discuss the impacts of the influx of foreigners and immigrants into Singapore.

Furthermore, another impact of this influx is the depletion of Singapore’s skilled manpower. The number of Singaporeans emigrating to live abroad is on the rise.  In 2001, there were 66,000 Singaporeans living and working in Australia, US, Canada and New Zealand. As the majority of these emigrants are in the higher income and skills category, this outflow, if sustained in the longer run, will lead to a depletion of Singapore’s skilled manpower. While temporary overseas employment stints by citizens contribute to the accumulation of invaluable human capital and overseas contacts to further the nation's globalization efforts, the possibility of a permanent drain of the local talent pool is a real concern. The increasing foreign talent pool could possibly induce more citizens to seek permanent employment overseas. An increasing number of Singaporeans, especially the younger generation are losing their sense of belonging to Singapore with many of them contemplating migrating elsewhere. Therefore, depletion of Singapore’s skilled manpower due to emigration is also a huge impact.

On the other hand, one of the positive impacts of the influx of foreigners is the growing economy. “With Singapore‘s small population base, relying on local manpower resources alone will not be enough,” PM Lee said in one of his speeches. Singapore’s economy has become more vibrant and diversified because of foreign workers. Without their participation, there will not be sufficient Singapore workers to grow the economy. Much of Singapore’s economy hinges on the inflow of foreign investments into the country, and surely most Singaporeans would gladly welcome these ‘new immigrants’ to startup a company in their shores and then subsequently creating new jobs for the locals. “Foreigners are not here to steal our jobs, but to help us enlarge the economic pie,” assured Prime Minister Lee in a National Day Rally. Singapore is emerging as a regional hub for biotechnology, biomedical and alternative energy industries due to the influx of foreign talents. Thus, the influx of foreigners and immigrants into Singapore has the impact of boosting Singapore’s economy.

In conclusion, there are both negative and positive impacts of the influx of foreigners and immigrants into Singapore. Although the influx of foreigners and immigrants has its merits, it must be carried out in a pragmatic way taking into account the sentiment of local Singaporeans. Singapore should continue to attract top quality people from around the world, while investing further to provide the best opportunities for Singaporean talents to grow and develop, so that the influx of foreigners will benefit both the economy and the local people.