Singapore Travel and Tourism Sector Rise: Ken Research

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Singapore Travel and Tourism Sector Rise Ken
Research
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Ken Research announced latest publication titled
Travel and Tourism in Singapore to 2020
provides detailed information on the country's
tourism sector, analyzing market data and
providing insights. This report provides a better
understanding of tourism flows, expenditure, and
the airline, hotel, car rental, and travel
intermediaries industries.
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Singapore indicated prodigious growth in travel
and tourism industry which has led to inbound and
outbound tourism rise in Singapore. Singapore
Tourism Board is coming up with different schemes
by investing in tourism promotion campaigns and
foreign partnerships. The government of Singapore
is providing funds for the future boost in the
sector. Further, tourism industry is anticipated
to expand between period 2016-2020 because of the
investments by the private and the government
sector. Overview of Singapores Travel and
Tourism Industry Singapore has recorded an
impartial growth in the promotion and expansion
of tourism industry. The tourism industry was
awfully hit by appreciation of the Singapore
dollar in the period 2014-2015 causing reduction
in the number of arrivals in the country. Since
then Singapore Tourism Board is coming up with
promotional activities to give a boost to the
sector.
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• Further, in 2015 inbound tourism showed amazing
  growth, with number of trips increasing to 12.1
  million from 9.2 million in 2010. The
  contribution of travel and tourism to Singapore
  GDP was S38.48 billion in 2014. The contribution
  to total employment by tourism sector was
  recorded at 8.4 for the year 2014. Investment in
  the sector was observed at 18 of the total
  investment. The most favourite destination for
  Singapore travellers in 2015 was Malaysia, with
  47.4 of total outbound trips. The domestic trips
  totalled 152,691 only in 2015 while there were
  8.8 million outbound trips. India is one of the
  most important foreign source countries for
  Singapore. The year 2015 welcomed one million
  Indians to Singapore, showing a growth of 7.5
  from 2014.
• Key Driving Factors in Singapore Travel and
  Tourism Industry
• A large number of factors led to a rise in travel
  and tourism industry in Singapore. One such
  factor is promotional activities both domestic
  and in foreign countries. Many promotional
  activities in tourism sector have been introduced
  since 2015.

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• Thus, huge promotional and advertising methods
  with influencing capabilities have been promoted
  in and outside Singapore to witness a continuous
  growth in the tourism sector. Singapore Tourism
  Board schemes include foreign partnerships, such
  as with MasterCard and Alitrip.
• Further, Singapore has amazing geographical
  location in Asia, which makes it one of the most
  popular tourism spot. Indonesia, China and India
  are the leading countries in the respective order
  to contribute to the Singapore tourism industry.
  In 2015, the number of arrivals plunged from
  countries like Japan, Indonesia, Malaysia and
  Australia because of strapping appreciation of
  the Singapore dollar against the currencies of
  respective countries. According to Singapore
  Tourism Board, India is considered one of the
  largest foreign source markets. The main driving
  factor for Indians to visit Singapore is leisure.
  One million Indian tourists ravelled to Singapore
  in 2015, showing a growth of 7.5 from 2014. In
  January 2016, Singapore Tourism Board launched a
  week-long road show in Indias major cities
  Mumbai, Bangalore, New Delhi and Chennai to
  promote tourism.

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• For future opportunities, the tourism industry in
  Singapore will get S700 million over the coming
  five years by the government. Three crucial
  sectors in tourism are targeted for the purpose
  cruises, technology and manpower.
• Some of the key factors that have led to growth
  of travel and tourism industry in Singapore are
• Promotional activities
• Foreign partnerships
• Government funds
• Rising middle income population
• Future of Travel and Tourism Industry
• Appreciating Singapore dollar is continuous
  threat to the travel and tourism industry of
  Singapore. Though Singapore has acquired benefit
  from the tourism industry due to increasing
  consumer spending but the country needs to take
  appropriate steps to face future issues.

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However, it is believed that Singapore will
remain a top choice for travel and the is
expected to grow at 6.56 pa till 2020. Rise in
government investment in the sector and
promotional activities would prevent the downfall
of tourism industry. The total contribution of
the sector to GDP is anticipated to increase to
S55 billion by 2020. To know more on Travel
and Tourism in Singapore to 2020 click on
following link https//www.kenresearch.com/media-
and-entertainment/tourism/travel-tourism-singapore
-2020/32000-94.html Related Reports https//www.
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Contact Ken Research Ankur Gupta, Head Marketing
Communications query_at_kenresearch.com 91-124-423
0204