High business cost is good
There was a time when there were calls for reducing business cost to stay competitive and relevant I think that was an old broken record and had been thrown away. Today, high cost means high quality, value for money. So high cost is good. High rental, high wages, high communication and transportation cost, high food and services costs, high education and medical cost etc. This is what a great first world city is all about. The higher we charge, the more people will flock here. Why are the hotels worrying that their rates are getting too high and tourists may not be able to afford them? Would medical tourists also go somewhere? Would the high spending shopping tourists go as well? Foreign students, foreign workers, businesses, would they stay and keep coming? What happens when one day we work up and all the factories are gone, hotels empty, hospital beds under utilised, shops without tourists, hawkers unable to pay for food court rentals? Never. It will not happen to us.