The Singapore tourism industry is all set to make a new record for luring a large number of tourists arriving in the country. It is expected to have about 10.2 Million tourists in 2008.
Like some other countries, Singapore too considers its tourism industry as one of the strongest pillars for future economic growth. There has been a tremendous growth in lieu with tourist arrivals in Singapore that, in turn, is generating huge revenues. Tourist influx in the country is expected to increase at a CAGR around 4% during 2007-2011, says the RNCOS report “Opportunities in Singapore Tourism Industry (2007-2009)”.
With the hike in the tourism industry and arrival of an expected 10.2 Million visitors next year, Singapore is all set to see one more record-breaking year, said Ng Eng Hen, the Manpower Minister, in October 2007, as reported by M&C.
With 9.7 Million visitors coming to Singapore last year (2006), a record was created. With the incentives of high-quality hotels, public safety and efficient tourism infrastructure, the tourism in the country is increasing at tremendous speed. The credit is also shared by budget airlines in increasing the tourism efficiently in Singapore. The top five visitor-generating markets for the city-state are Indonesia, China, Australia, India and Japan.
An investment of more than SGD 360 (US$ 243 Million) will be infused by the government in the next three years for preparing and training 74,999 workers to anticipate more growth.
A Formula 1 Singapore Grand Prix is being introduced by Singapore to come out of its clean but boring destination’s image. Also, two big casino resorts are scheduled to be completed in 2010, along with a road show planned along with the Careers Exhibition in February next year which is also the first exhibition in the heartlands for touching as many people as possible.
The Workforce Development Agency and Singapore Tourism Board has put the plan of training the tourism workers into action. Job trainings such as working as tour hosts, chefs, event organizers and landscape technicians, are being provided considering the hike in the tourism industry, along with scholarships being provided to students which are also tourism-related. It would help the country in having as many people working for the tourism industry as and when it requires.
Related Market Research Reports:
Opportunities in Singapore Tourism Industry (2007-2009)
Indian Tourism Industry Analysis
Opportunities in Malaysian Tourism Industry (2007-2009)
