Singapore Tourism Board (STB)
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Singapore tourism board for It is common to observe differences in the resulting measures of R&D intensity both across countries and across industrial sectors, and these provide the empirical basis for the widely used classification of certain sectors of the economy as high-tech sectors. To the extent that technical advance is the result of intentional efforts, a proximate cause of the rate and direction of technological change is the allocation of R&D expenditures across fields of technology. However, this argument only pushes the questions one step back. Two factors are presumed to play an important role in shaping the allocation of R&D expenditures, referred to as: demand and appropriability conditions; and technological opportunity. The bulk of innovative activity is pursued under the expectation of a financial reward. Such expectation is normally grounded in the belief that there is a”possibly latent”demand for the innovation, and that the innovator will be able to recover his or her investment and earn a return from selling, using, or otherwise disposing of the innovation. With respect to the first issue, suffice to say that the technology has to meet a specific present or future need of the potential users, and it has to do so better than alternative technologies. Singapore tourism board 2016.