I thought it was interesting that David Martin, a U.K. citizen who moved to Singapore a few years ago, described Singapore as a Lexus in an article in Time magazine. Martin was quoted to have said,

“Lexus could be the most well-made car out there, but it will never be as attractive as a Mercedes or BMW.”

This certainly is very thought-provoking. Singapore is going all out to transform itself to become the next New York, Paris or London. The integrated resorts drive, and more recently, the wooing of Formula One to hold its first race in Singapore is completely different from the image of Singapore in the minds of most people. Singapore is more likely to conjure images of a clean city, highly efficient government (to the point of appearing cold) and draconian laws rather than that of a fun city.

I concur that Singapore is like a Lexus. By many measures, the Singapore system towers above many other countries and large cities. Education, healthcare, public transport, governance and security are amongst the best in the world, although one will have to quietly surrender certain personal rights to enjoy these benefits. Why then do people not aspire to come to Singapore, or for Singaporeans, why do they not aspire to remain in Singapore? Why are countries like the United States, Britain, Switzerland etc so much more attractive, even though logically, Singapore is as good in most areas?

I guess the Singapore government can do its best to make sure that everything works in Singapore, but it cannot change the image of Singapore in the minds of many people. It is going to be difficult to shake off the notion that Singapore is boring. Sure, things work, but its boring. It just like a Lexus. Sure, it looks nice and seldom breaks down, but hey, it’s just made by Toyota, who makes cars for the average man. There’s no “status” in owning a car by a manufacturer that makes cars that any Tom, Dick or Harry can buy.

However, Toyota is one of the most profitable automobile companies in the world. Who cares whether people think that Toyota is “boring” or have little “status”? The company is laughing its way to the bank, and I’m quite sure the Toyota executives are thinking, “You [other automobile companies] can keep your image, we prefer to keep our profits.” I suppose this is what the Singapore government is betting on. Sure, Singapore might not conjure the most glamorous image in the minds of people, but if people are willing to park their money here, who cares?

And, the strategy appears to have been working. Billions of dollars are entering the Singapore banking and finance sectors. Immigration rates are rising. And the global rich have snapped up luxurious private properties in Singapore. Perhaps the strategy of aspiring to own a Mercedes or BMW but making do with a Lexus works.