Singapore Tourism Report Q1 2016

Date: December 23, 2015
Pages: 31
US$ 1,295.00
Report type: Strategic Report
Delivery: Download

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Includes 3 FREE quarterly updates

BMI View: Singapore is a well -established and popular tourism destination in the competitive Asia Pacific region. Despite being a small city state, the country is home to a large number of attractions and the government has invested heavily in the tourism sector in recent years in order to attract more, as well as longer-stay visitors, including developing a range of tourism related attractions, from casinos through to theme parks. With visitor numbers steadily increasing and occupancy rates already high, the hotel market is attracting significant foreign investment and we are seeing a number of new properties under development, focusing particularly on the high end and luxury travel market. Supporting these positive growth expectations is extensive an ongoing investment in transport infrastructure which means that Singapore is increasingly accessible for key regional and global source markets.

Key Updates and Forecasts
  • Cruise tourism to and from Singapore looks set to get a boost according to the recent announcement by TUI Cruises that it would make Singapore its seasonal homeport. TUI Cruises has partnered with the Singapore Tourism Board and the Changi Airport Group in a drive to increase cruise passengers from Germany, Switzerland and Austria to over 90,000 which would generate SGD50mn (USD35.6mn) in tourism receipts.
  • International air connectivity continues to expand. Singapore Airlines is partnering with Lufthansa on key routes between Singapore and various European destinations while Australia based Jetstar has introduced new flights between Singapore and Palembang in Indonesia.
  • We are forecasting healthy growth in inbound tourism throughout our five year forecast period, with total international arrivals expected to reach 20.1mn in 2019, up from 15.7mn in 2015. This will support an increase in tourism related expenditure from SGD87.75bn to SGD113.76bn.
BMI Industry View
    Table: Key Forecasts (Singapore 2012-2019)
Industry Forecast
    Table: Inbound Tourism (Singapore 2012-2019)
    Table: Tourism Receipts (Singapore 2012-2019)
    Table: Hotel Accommodation (Singapore 2012-2019)
    Table: Tourist Departures and Consumption (Singapore 2012-2019)
Industry Risk/Reward Index
Tourism Risk/Reward Index
    Table: Asia Pacific Tourism Risk/Reward Index
Market Overview
Competitive Landscape
Domestic Hotel Groups
    Table: Domestic Hotel Groups
International Hotel Groups
    Table: International Hotel Groups
Industry Forecast Methodology
Risk/Reward Index Methodology
    Table: Weighting Of Indicators
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