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Singapore Tourism Report Q4 2009Published by: Business Monitor International Published: Oct. 21, 2009 - 47 Pages Table of Contents
AbstractShort-Term Outlook Negative…Singapore’s tourism industry experienced a difficult first half to 2009. Visitor arrivals were down by11.5%, to just 4.51mn in January-June. The Singapore Tourist Board (STB) attributed the poorperformance primarily to the global economic crisis, but with arrivals from China and Japan also reduceddue to the effects of the H1N1 (swine flu) pandemic. Over the first six months of 2009, Singapore’s top five visitor-generating markets were Indonesia(766,000), China (457,000), Australia (376,000), India (361,000) and Malaysia (317,000), accounting forover 50% of the total. Vietnam (up 13.4%), the Philippines (up 3%), Malaysia (up 1.8%) and Germany(up 1.3%) were the fastest growing source markets in H109, which the STB attributed to strong marketingcampaigns and, in the case of Vietnam, aggressive airline promotions. Given this disappointing start to the year, we have made downward revisions to our forecasts for arrivalsdata this year. From a previous forecast of 9.9mn visitors, we now believe that 9.12mn is more likely. …But Longer-Term Prognosis Remains Positive Although 2009 will be difficult for Singapore’s tourism industry, there are reasons to remain positive forthe medium-to-long term, as the global economy recovers. In particular, the opening of the two integratedresorts, at Marina Bay in 2009 and Sentosa in 2010, should help the island attract new tourists. Also, in2011 Singapore will host the first Youth Olympics and open a new International Cruise Terminal. Integrated Resorts Opening Soon In June, the first details surrounding some of the hotel rooms on offer at the new SGD6.59bn Sentosaintegrated resort were unveiled. Showrooms for the Maxims Tower, Hotel Michael, Festive Hotel and theHard 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 ispitched at the family market, with brightly coloured décor and loft sleeping areas in the bedrooms forchildren. The 364-room Hard Rock Hotel Singapore is pitched at the young adult market. The other twohotels at the resort are the Equarius Hotel and Spa Villas. Bookings for the hotels opened in H209. Otherattractions at Sentosa will include a Universal Studios theme park, a casino and the world’s largestoceanarium. BMI believes this and other new resorts will do much to significantly boost Singapore’stourism industry from 2010 onwards. Get Full Details About This Report >> |
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