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The Globalysis 2007 Tourism Sector Outlook for Singapore
Globalysis Ltd, Feb 2007, Pages: 10
A current analysis of the outlook on Singapore’s tourism sector for 2007. Includes insight to its Airline and hotel lodging industries, as well as the tourism impact of its upcoming Integrated Resorts.
Singapore is a tiny bustling city-state of approximately 4.4 million people, with a highly developed economy, urban environment and multicultural society. In 2006, Singapore attracted 9.7 million international visitors - a 9% annual growth over 2005 figures - and received S$12.4 billion (approximately US$8.1 billion) in tourist receipts.
The author believes the island city could see substantial growth in tourism arrivals and tourist dollar revenues in calendar year 2007. We believe that the outlook for Singapore’s tourism sector in the near term is positive.
The government of Singapore recently put forth a highly ambitious goal of 17 million visitor arrivals and S$30 billion (US$19.6 billion) in tourism receipts by the year 2015. The achievement of these objectives will be highly contingent upon the development of two multi-billion dollar integrated resorts - comprehensive leisure and entertainment complexes with casinos, hotel accommodation, restaurants, retail establishments, entertainment venues, convention and meetings space and other attractions.
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