MarketReportsOnline – Singapore Tourism Report Q2 2012

In 2011, Singapore welcomed 13,171,303 tourists, a rise of 13.1% year on year (y-o-y). This is very much consistent with BMI’s targets for the entire year. Tourism receipts for the entire year totaled SGD22.2bn, up by 17% y-o-y, according to statistics from the Singapore Tourism Panel (STB). Looking at specific source marketplaces, Indonesia remained the most crucial source marketplace for inbound vacationers in 2011, contributing 2,592,222 vacationers to total arrivals through the year, up by 12.4% y-o-y. Other key marketplaces had been 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 development in arrivals from the Philippines (677,723) and Japan (656,417) both up by over 24%, while arrivals from Hong Kong were up by nearly 20% at 464,375. Searching further afield, there is also notably strong development in arrivals from New Zealand (122,995; up 28.4%) and Finland (23,905; up 53.1%). This diversification of source marketplaces from the mainstays of Indonesia, China and Malaysia will strengthen Singapore’s overall tourism overall performance in the years forward.

From the strong data for 2011, it really is clear that Singapore is profiting from the establishment of the Resorts World Sentosa and Marina Bay Sands integrated resorts, which are doing very much to attract tourists to the united states. We believe Singapore’s tourism achievement should continue in 2012 and beyond as more folks choose to check out the new resorts, especially from other Parts of asia, as obvious in the strong raises in arrivals from the Philippines, Japan and Hong Kong in the last 12 months. For 2012, the STB offers announced a focus on of 13.5-14.5mn tourist arrivals and SGD23-24bn in tourism receipts.

BMI supports this evaluation, currently targeting 14.29mn tourist arrivals and SGD23.5bn (US$18.35bn) in tourism receipts for the entire year. The CEO of the STB, Aw Kah Peng, has underlined Singapore’s dedication to spotlight ‘quality tourism’, building on the strong overall performance of the industry in the last two years. The federal government also continues to be supportive of the tourism market, announcing SGD905mn in financing for the country’s Tourism Advancement Fund, that your STB believes will ‘support the co-creation of innovative tourism items and occasions, and the improvement of workforce features’. We forecast a complete of 18.81mn same-day and overnight travelers visiting Singapore and All of us$22.16bn in tourism receipts by the finish of our newly extended forecast period in 2016.

New International Cruise Terminal TO IMPROVE Tourism Flows

By the finish of Q212, Singapore’s new US$400mn International Cruise Terminal (ICT) is scheduled to open up. In December 2011, the STB said it acquired appointed a jv between local firm SATS and Spanish firm Creuers del Interface de Barcelona to use the terminal for a decade. Once it really is open, the brand new terminal will dual Singapore’s berth capability and enable bigger cruise ships to avoid at Singapore. The brand new terminal may also complement the Singapore Cruise Center (SCC), which includes been undergoing modernisation function reportedly totalling about US$11mn. In 2011, Singapore received 394 cruise lines carrying about 942,000 passengers, according to regional media reports. Over fifty percent of the cruise liner passengers were international nationals, with the development rate for cruise travellers over 2002-2011 position at 3.6% yearly.

BMI believes Singapore is in a position to determine itself as a regional hub for cruise lines and we expect a reliable increase in the amount of cruise travellers arriving in the united states to 2016. Furthermore, Singapore provides first-mover advantage since it has had the opportunity to complete its brand-new cruise terminal before a rival slot in Hong Kong, where in fact the new cruise terminal isn’t be prepared to open until 2013.

Scoot To Release In June 2012 Singapore Airlines’ low-price airline Scoot programs to start operations by the end of June 2012, flying to two locations in Australia, the Gold Coastline and Sydney, using a short fleet of 4 Boeing 777 aircraft. By the finish of the entire year, Scoot expectations to Tianjin in China aswell.

Published: June 2012 Zero. of Pages: 65 Cost: US $ 1175

Scoot will end up being managed and work independently from Singapore Airlines and it’ll operate from Changi INTERNATIONAL AIRPORT 2. During its 1st year of procedures, the airline expectations to fly to Australasia and China, with locations across India, European countries and the center East to check out over the arriving years. Online bookings for Scoot flights were only available in March with many aggressively-costed fares, including an overall economy fare beginning at SGD88 for a Singapore-Sydney return ticket.

It remains to be to be observed how profitable this fresh venture will end up being for Singapore Airlines, with rival Malaysian operator AirAsia having currently established a dominant placement in the low-price segment over the region. Furthermore, Singapore Airlines currently has contact with low-cost solutions via its Silk Atmosphere subsidiary and its bulk shareholding in Tiger Airways. Having said that, it is apparent that demand for low-price travel is normally booming in Asia and the carrier believes it could use its status and features to its benefit in the low-price segment.

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