Recently published research from Business Monitor International, "Singapore Tourism Report Q1 2015", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 01/30/2015 -- We are forecasting very healthy growth across a range of key indicators for Singapore's well - established tourism market. Building upon its reputation as a well- connected regional travel hub, Singapore is increasingly targeting longer - term holiday makers through far- reaching marketing campaigns and extensive tourist infrastructure investment. The tourism market benefits from a well - developed transport and accommodation network, as well as a highly supportive government.
Already home to one of the busiest airports in the world, Singapore is investing heavily in further expanding and modernising Changi International Airport. With 100 international airlines providing routes to more than 70 countries around the world, as well as road and rail connections to Malaysia and sea travel connections to Indonesia, Singapore has no shortage of travel options. The government is highly supportive of tourism, investing in marketing campaigns such as 'Your Singapore' and providing a USD5mn Kickstart Fund for small tourism-related enterprises. The World Travel and Tourism Council and World Tourism Organization have noted, however, that Singapore needs to overhaul its visa system if it is to attract more visitors from key source markets such as Russia and China.
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Singapore has been experiencing steady and robust increases in arrivals. As it further expands its presence on the global tourism stage, highlighting its range of attractions and improving travel connections, we expect the growth in tourism arrivals to increase. We forecast arrivals to reach 17.5mn in 2015, up from 16.5mn in 2014. Further growth during our forecast period means arrivals are expected to reach 20.8mn in 2018 - a very healthy tourism market in the region, particularly considering Singapore's small size.
Despite this small size and Singapore's small population compared with other countries in the region, its outbound tourism market remains substantial, with some 24.8mn departures expected...
The Singapore Tourism Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for tourist expenditure; government expenditure on tourism; passenger arrivals and departures by mode of transport, reason for travel, origin and destination; and the accommodation market.
BMI's Singapore Tourism Report provides industry professionals and strategists, corporate analysts, associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the Singaporean tourism industry.
- Benchmark BMI's independent tourism industry forecasts for Singapore to test other views - a key input for successful budgetary and planning in the Singaporean tourism market.
- Target business opportunities and risks in the Singaporean tourism sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Singapore.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. KPIs and latest activity).
BMI Industry View
This contains a synopsis of our forecasts, and any changes, together with an overview of key trends and developments in the tourism industry, and an assessment of the impact of various economic and national factors which might affect the sector. It also covers new transport projects, new hotel developments, and acquisitions.
Industry SWOT Analysis
Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the tourism sector and within the broader political, economic and business environment.
BMI Industry Forecast Scenario
Forecasts to end-2018 for all key indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecasts:
Inbound tourism: Arrivals (?000), arrivals growth (% y-o-y), arrivals by region, growth (% y-o-y), arrivals by country, growth (% y-o-y), top 10 countries based on arrivals, growth (% y-o-y).
Outbound tourism: Departures (?000), growth (% y-o-y), departures by regional destination (?000 and growth % y-o-y).
Travel: Methods of travel for arrivals (Air, Ship, Rail), (?000) and (% growth y-o-y), international Tourism receipts for transport (US$bn), (growth % y-o-y), international Tourism receipts for travel items (US$bn), (growth % y-o-y).
Hotels: Hotel industry value (US$bn), (growth % y-o-y), (%GDP), (per capita), (per employee), number of hotels and like establishments (?000), (growth % y-o-y), total overnight stays, (?000), (growth % y-o-y), length of stay, occupancy rate (%), number of hotel rooms, (?000), (growth % y-o-y).
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