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Published by: Business Monitor International
Published: May. 21, 2009 - 45 Pages
Table of Contents
- Executive Summary
- SWOT Analysis
- Singapore Tourism Sector SWOT
- Singapore Political SWOT
- Singapore Economic SWOT
- Singapore Business Environment SWOT
- Market Overview
- Tourism Outlook
- Table: Singapore’s Travel Industry, 2006-2013 (mn people, unless otherwise stated)
- Table: Singapore’s Tourism Industry, 2006-2013 (US$bn unless otherwise stated)
- Asia Tourism Business Environment Ranking
- BMI’s Security Ratings
- Table: Asia Pacific Regional Security Ratings
- Terrorism Risk Rating
- Table: Asia Pacific State Vulnerability To Terrorism Index
- Conflict Rating
- Physical Safety Risk Rating
- Exchange Rate Policy
- Table: Singapore - Monetary And Exchange Rate Policies
- Travel
- Commercial Airlines
- Budget Airlines
- Table: Singapore’s Low-Cost Airlines - Key Players, 2008
- Liberalising The Lucrative KL-Singapore Route
- Oil Price Forecast
- Table: Oil Product Price, 2006-2013 (US$/bbl)
- Cruises
- Hospitality
- Accommodation
- Table: Singapore’s Hospitality Market Structure, 2006-2013
- Raffles To Have New Ownership?
- Key Players
- Infrastructure
- H5N1 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
AbstractA Difficult Time Ahead
In 2008, Singapore welcomed some 10.12mn visitors, a decline of 1.6% year-on-year (y-o-y). This figurewas just below BMI’s forecast of 10.20mn. Indonesia (1,765,000), China (1,079,000), Australia(833,000), India (778,000) and Malaysia (647.000) were Singapore’s five largest source markets over theyear.
BMI had noted that the decline in visitor numbers over June 2008 had represented the first month offalling visitor numbers since March 2004. Clearly, this month marked the start of a decline in visitornumbers as tourists cut back on discretionary spending. Indeed, the Singapore Tourism Board (STB)attributed the drop in in-bound tourism numbers to the impact of the global economic slowdown onconsumer sentiment and discretionary spending. For 2008, tourism revenues totalled some SGD14.8bn, inline with BMI’s forecast.
Difficult Operating Environment For Tourism Companies
The current global economic slowdown is providing a challenging backdrop for companies operatingwithin the Singaporean tourism industry at present. Hotel occupancy rates in Singapore are falling anddomestic airline Singapore Airlines saw a 43% fall in its net profits over the third quarter of FY08/09.As such, BMI will continue to monitor the situation in Singapore to see if any further changes to ourtourism forecasts prove necessary.
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