Singapore Tourism Report Q3 2009
Business Monitor International, July 2008, Pages: 50
The Singapore Tourism Report provides industry professionals and strategists, corporate analysts, tourism associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Singapore's tourism industry
A Difficult Time Ahead
Singapore’s tourism industry has experienced a difficult start to 2009. The first three months of the year saw double-digit declines in arrivals figures on a year-on-year (y-o-y) basis. April figures showed a slight improvement, with arrivals down by 6.1%, at 780,000, according to figures released by the Singapore Tourism Board (STB). Year-to-date, 3.03mn tourists have arrived in the city state. Given this disappointing start to the year, it is clear that the risk to BMI's forecast of 9.9mn visitors for 2009 now lies very much to the downside. However, we would prefer to wait for more data to come out over the summer months before moving to change our arrivals forecast for the current year.
Integrated Resorts Opening Soon
In June 2009, the first details surrounding some of the hotel rooms on offer at the new SGD6.59bn Sentosa integrated resort were unveiled. Showrooms for the Maxims Tower, Hotel Michael, Festive Hotel and the Hard Rock Hotel Singapore were opened for public viewing. The 120-room Maxims Tower and 470-room Hotel Michael are both pitched at the luxury end of the market. The 398-room Festive Hotel is pitched at the family market, with brightly coloured décor and loft sleeping areas within the bedrooms for children. Lastly, the 364-room Hard Rock Hotel Singapore is pitched at the young adult market. Bookings for these new hotels will open in H209. Other attractions on offer at Sentosa will include a Universal
Studios theme park, a casino and the world’s largest oceanarium.
The anaylst believes that these new resorts will do much to boost Singapore’s tourist industry significantly from 2010 onwards.
Challenging Operating Environment For Tourism Companies
The current global economic slowdown is providing a challenging backdrop for companies operating within the Singaporean tourism industry at present. Hotel occupancy rates in Singapore are falling and domestic airline Singapore Airlines saw a 48.2% fall in its net profits over FY08/09. The anaylst will continue to monitor the situation in Singapore to see if any further changes to our tourism forecasts prove necessary.
Addition Of Coverage On Swine Flu
May 2009 saw Singapore confirm its first case of the H1N1 virus (swine flu). Towards the end, added is coverage of swine flu to our existing coverage of avian flu. More information can be found on pages 33- 34 of this report.
EXECUTIVE SUMMARY
- Singapore Tourism Sector SWOT
- Singapore Political SWOT
- Singapore Economic SWOT
- Singapore Business Environment SWOT
INDUSTRY FORECAST SCENARIO
- Tourism outlook
- Attracting The BTMICE Market
- Table: Singapore’s Travel Industry, 2006-2013 (mn people, unless otherwise stated)
- Table: Singapore’s Tourism Industry, 2006-2013 (US$bn unless otherwise stated)
MARKET OVERVIEW – TRAVEL
- Commercial Airlines
- Budget Airlines
- Table: Singapore’s Low-Cost Airlines – Key Players, 2009
- Liberalising The Lucrative Kuala Lumpur-Singapore Route
- Quarterly Oil Products Price Outlook
- Table: Oil Product Price Assumptions, Q408-Q409 (US$/bbl)
- Table: Oil Product Price Forecasts, 2006-2013 (US$/bbl)
- Cruises
MARKET OVERVIEW – HOSPITALITY
- Accommodation
- Table: Singapore’s Hospitality Market Structure, 2006-2013
- Raffles To Have New Ownership?
- Key Players
- Integrated resorts opening soon
- Infrastructure
BUSINESS ENVIRONMENT
- BMI’s Security Ratings
- Table: Asia Pacific Regional Security Ratings
- Terrorism Risk Rating
- Table: Asia Pacific State Vulnerability To Terrorism Index
- Conflict Rating
- Physical Safety Risk Rating
CURRENCY FORECAST
- SGD: Modest Depreciation In 2009
- BMI Singapore Currency Forecasts
GLOBAL ASSUMPTIONS
- Table: Global Assumptions, 2007-2013
- Table: Developed States GDP Growth, 2008-2010
- Table: Emerging Markets GDP Growth, 2008-2010
- Table: Commodity Prices, 2007-2010
H5N1 AND H1N1 VIRUS UPDATE
COMPANY PROFILES
- Singapore Airlines (SIA)
- Tiger Airways
COUNTRY SNAPSHOT: SINGAPORE DEMOGRAPHIC DATA
- Section 1: Population
- Table: Demographic Indicators, 2005-2030
- Table: Rural/Urban Breakdown, 2000-2030
- Section 2: Education And Healthcare
- Table: Education, 2000-2004
- Table: Vital Statistics, 2005-2030
- Section 3: Labour Market And Spending Power
- Table: Employment Indicators, 2001-2006
- Table: Consumer Expenditure, 2000-2012 (US$)
BMI FORECAST MODELLING
- How We Generate Our Industry Forecasts
- Tourism Industry
- Tourism Ratings –Methodology
- Table: Tourism Business Environment Indicators
- Table: Weighting of Components
- Sources
- Singapore Airlines (SIA)
- Tiger Airways
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