Tourism receipts, visitor arrivals expected to rise: Iswaran
Singapore's tourism receipts for this year are projected to increase to about S$24.5 billion.
Visitor arrivals are also expected to go up to at least 14.8 million.
Minister in Prime Minister's Office S Iswaran said global tourism growth is moderating and visitor arrivals to Singapore cannot continue to grow at the rates seen in recent years.
What Singapore needs, he said, is strong content, especially in business and leisure events to differentiate itself from competitors.
More will be done to facilitate content curation and delivery within the industry.
He said the Singapore Tourism Board will establish a new Kickstart Fund with an initial funding of S$5 million, to support lifestyle concepts with strong tourism potential and scalability.
There will also be more support to help the tourism industry boost its productivity and move up the value chain.
Member of Parliament for Nee Soon GRC Dr Lim Wee Kiak had asked in Parliament: "Just as in the rest of our sectors, the tourism sector will have to face global economic uncertainties, keen regional competition and labour constraints in the years ahead. Will we be able to maintain our attractiveness as a tourism destination?"
Mr Iswaran replied: "Domestically, our land and manpower constraints mean we need to find new ways to do more with less. The next phase of tourism growth would thus have to come from increasing the yield through visitor spend, rather than just visitor numbers. And this transformation and change is timely because externally, the expected rise in Asian tourism over the coming years presents a window for us to attract discerning travellers who seek out differentiated and value-added experiences."
~News courtesy of Channel Newsasia~
Singapore's tourism receipts for this year are projected to increase to about S$24.5 billion.
Visitor arrivals are also expected to go up to at least 14.8 million.
Minister in Prime Minister's Office S Iswaran said global tourism growth is moderating and visitor arrivals to Singapore cannot continue to grow at the rates seen in recent years.
What Singapore needs, he said, is strong content, especially in business and leisure events to differentiate itself from competitors.
More will be done to facilitate content curation and delivery within the industry.
He said the Singapore Tourism Board will establish a new Kickstart Fund with an initial funding of S$5 million, to support lifestyle concepts with strong tourism potential and scalability.
There will also be more support to help the tourism industry boost its productivity and move up the value chain.
Member of Parliament for Nee Soon GRC Dr Lim Wee Kiak had asked in Parliament: "Just as in the rest of our sectors, the tourism sector will have to face global economic uncertainties, keen regional competition and labour constraints in the years ahead. Will we be able to maintain our attractiveness as a tourism destination?"
Mr Iswaran replied: "Domestically, our land and manpower constraints mean we need to find new ways to do more with less. The next phase of tourism growth would thus have to come from increasing the yield through visitor spend, rather than just visitor numbers. And this transformation and change is timely because externally, the expected rise in Asian tourism over the coming years presents a window for us to attract discerning travellers who seek out differentiated and value-added experiences."
~News courtesy of Channel Newsasia~
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