Singapore’s tourism sector generated an estimated
Sin$14.8 billion in tourism receipts (TR) in 2008. This represents a
growth of 5% over 2007 and sets a new record for Singapore, despite the
impact of the global economic slowdown in the second half of the year.
In terms of visitor arrivals, Singapore welcomed
an estimated 10.1 million visitors in 2008, a decline of 2%
against 2007. Total visitor days grew 6.9% to reach 39.8 million
days in 2008.
Commenting on the performance,
Singapore Tourism Board’s Chief Executive, Ms Aw Kah Peng said, “Singapore’s tourism sector turned
in a credible and robust performance in 2008 despite the dramatic
turn in the global economy in the second half of the year. With
the unwavering support of our industry partners, we were able to
achieve record tourism receipts and will continue with our long
term strategy to increase visitor spending.”
contributed to the tourism sector’s performance in 2008 included
Singapore’s growing attractiveness as a destination withmany
exciting tourism products, more competitive air travel options and
greater accessibility to Singapore, as well as STB’s global
The top five markets for 2008 were Indonesia (1,730,000),
P.R. China (1,080,000), Australia (820,000), India (770,000) and
Malaysia (650,000), which accounted for about 50% of total visitor
January to November 2008 figures, Singapore’s hotel sector
performance has remained robust. Compared to the same period in
2007, the Average Room Rate increased by 23.5% to reach Sin$248,
Revenue Per Available Room grew by 15.4% to reach Sin$203, total
hotel room revenue rose 14.1% to reach Sin$1.9 billion and the
Average Occupancy Rate (AOR) decreased by 5.7 percentage to reach
82%. The fall in AOR was driven partly by new hotel rooms coming
on stream and, in recent months, by the decline in visitor
arrivals. Updated hotel sector statistics
for 2008 will be made available towards end-January 2009, after
hotels have submitted their data for December 2008.
success of inaugural milestone events such as Singapore Airshow,
Singapore International Water Week and the 2008 FORMULA 1 SingTel
Singapore Grand Prix last year truly marked a turning point for
Singapore as a destination. The world now sees Singapore in a new
light. While we have reinforced our strong reputation as a city
for business, we have also injected a fresh sense of excitement
through the delivery of world-class events that are uniquely
Singapore,” Ms Aw added.
Annual signature events, such as the
Great Singapore Sale, Christmas in the Tropics, and ZoukOut, as
well as over 6,000 business events, including Biomedical Asia and
ITB Asia, also added to the year’s success in showcasing the
Singapore brand as one that continues to attract a strong showing
of both international and regional visitors.
The Singapore Government has
already started to respond to the global economic situation.
Amongst other measures, a number of schemes have been launched to
provide financial assistance, subsidise capability development and
implement cost-cutting measures to help businesses ride out the
In addition, the Government has worked with industry
partners and unions to organise a series of forums to help
Singapore businesses address manpower issues and create awareness
of the assistance schemes relevant to them. Briefings have been
conducted for tourism-related sectors like the hotel and food and
beverage industries, and there will be upcoming forums for the
retail, attractions and travel services, and MICE (Meetings,
Incentive Travel, Conventions & Exhibitions) industries.
Working with the tourism industry, the STB is also developing a
global marketing campaign to drive visitors to Singapore, with a
particular emphasis on regional markets.
“We believe visitors will still need to and
want to travel, whether for leisure or business. But no doubt they
will be more cost-conscious and will want to get more out of every trip. So STB has to work hand in hand with the
industry to ensure Singapore remains a destination of choice, and
one that both creates and delivers,” said Ms Aw.
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