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Singapore Tourism Report Q2 2012

Singapore Tourism Report Q2 2012

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Published by charlesmartin173
In 2011, Singapore welcomed 13,171,303 tourists, an increase of 13.1% year on year (y-o-y). This was very much in line with BMI’s expectations for the year. Tourism receipts for the year totalled SGD22.2bn, up by 17% y-o-y, according to figures from the Singapore Tourism Board (STB). Looking at individual source markets, Indonesia remained the most important source market for inbound tourists in 2011, contributing 2,592,222 tourists to total arrivals during the year, up by 12.4% y-o-y. Other key markets were China (1,577,522; 34.7%), Malaysia (1,140,935; 10%), Australia (956,039; 8.6%) and India (868,991; 4.8%).
In 2011, Singapore welcomed 13,171,303 tourists, an increase of 13.1% year on year (y-o-y). This was very much in line with BMI’s expectations for the year. Tourism receipts for the year totalled SGD22.2bn, up by 17% y-o-y, according to figures from the Singapore Tourism Board (STB). Looking at individual source markets, Indonesia remained the most important source market for inbound tourists in 2011, contributing 2,592,222 tourists to total arrivals during the year, up by 12.4% y-o-y. Other key markets were China (1,577,522; 34.7%), Malaysia (1,140,935; 10%), Australia (956,039; 8.6%) and India (868,991; 4.8%).

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Published by: charlesmartin173 on Jun 20, 2012
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09/28/2013

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Singapore Tourism Report Q2 2012
Published:June 2012No. of Pages:65
 
Price: US $ 1175
In 2011, Singapore welcomed 13,171,303 tourists, an increase of 13.1% year on year (y-o-y). This was
very much in line with BMI’s expectations for the year. Tourism receipts for the year totalled SGD22.2bn,
up by 17% y-o-y, according to figures from the Singapore Tourism Board (STB). Looking at individualsource markets, Indonesia remained the most important source market for inbound tourists in 2011,contributing 2,592,222 tourists to total arrivals during the year, up by 12.4% y-o-y. Other key marketswere China (1,577,522; 34.7%), Malaysia (1,140,935; 10%), Australia (956,039; 8.6%) and India(868,991; 4.8%).There was also growth in arrivals from the Philippines (677,723) and Japan (656,417) both up by over24%, while arrivals from Hong Kong were up by almost 20% at 464,375. Looking further afield, there wasalso notably strong growth in arrivals from New Zealand (122,995; up 28.4%) and Finland (23,905; up53.1%). This diversification of source markets away from the mainstays of Indonesia, China and Malaysia
will strengthen Singapore’s overall tourism pe
rformance in the years ahead.From the strong data for 2011, it is clear that Singapore is benefiting from the establishment of theResorts World Sentosa and Marina Bay Sands integrated resorts, which are doing much to attract touriststo the country. We
believe Singapore’s tourism success should continue in 2012 and beyond as more
people choose to visit the new resorts, particularly from other Asian countries, as evident in the strongincreases in arrivals from the Philippines, Japan and Hong Kong over the past 12 months. For 2012, theSTB has announced a target of 13.5-14.5mn tourist arrivals and SGD23-24bn in tourism receipts.BMI supports this analysis, currently targeting 14.29mn tourist arrivals and SGD23.5bn (US$18.35bn) intourism receipts for the
year. The CEO of the STB, Aw Kah Peng, has underlined Singapore’scommitment to focus on ‘quality tourism’, building on the strong performance of the industry over the past
two years. The government also remains supportive of the tourism industry, announcing SGD905mn in
funding for the country’s Tourism Development Fund, which the STB believes will ‘support the co
-creation
of innovative tourism products and events, and the enhancement of workforce capabilities’. We forecast a
total of 18.81mn same-day and overnight tourists visiting Singapore and US$22.16bn in tourism receiptsby the end of our newly extended forecast period in 2016.New International Cruise Terminal To Boost Tourism Flows
By the end of Q212, Singapore’s new US$400mn International Cruise T
erminal (ICT) is scheduled toopen. In December 2011, the STB said it had appointed a joint venture between local company SATSand Spanish company Creuers del Port de Barcelona to operate the terminal for 10 years. Once it isopen, the new terminal will do
uble Singapore’s berth capacity and enable larger cruise ships to stop at
Singapore. The new terminal will also complement the Singapore Cruise Centre (SCC), which has beenundergoing modernisation work reportedly totalling about US$11mn. In 2011, Singapore received 394cruise ships carrying about 942,000 passengers, according to local media reports. Over half of the cruiseship passengers were foreign nationals, with the growth rate for cruise passengers over 2002-2011standing at 3.6% per annum.
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