The outlook for the Singapore tourism industry is positive with stable organic growth momentum projected over themedium term to 2023. The city-state benefits from one of the most advanced global air transportation hubs, and a strong andreputable tourism image. Market growth dynamics will be further buoyed by rising Asia Pacific travel trends, growing low-cost airtransport networks and rising spending powers in both established and rising source markets. Downside risk stems from robustgrowth in alternative tourism destinations in the region such as the Philippines, Vietnam and Cambodia.
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