SINGAPORE: Growth in Singapore’s tourism industry is officially forecast to slow in the next decade, after a boom following the opening of the two integrated resorts here.
But market watchers said Singapore should continue to largely outperform the rest in the region, boosted by business travel and meetings, sports and medical tourism.
The meetings, incentives, conferences and exhibitions (MICE) sector is a key sector that Singapore is keen to grow.
It is also an area in regional trade event that ITB Asia is focusing on this year.
Meanwhile, the Sports Hub is set to open next year, and it is expected to bring in key sporting events and other activities like concerts.
Lionel Yeo, chief executive officer of Singapore Tourism Board, said: “There continues to be a strong pipeline of products….not just in infrastructure, but critically, it’s the software; so more events, more programmes as well.
“Because you have the Sports Hub which is the hardware, but what are the sporting events, what are the entertainment events, because that’s what really animates the place.
Singapore is set to be the host for the Women’s Tennis Association (WTA) championships from next year till 2018.
It will be held in October, right after the Singapore Grand Prix.
Market analysts say these activities will attract tourists, especially repeat travellers.
Cheetan Kapoor, analyst at PhoCusWright, said: “It is a very long term and sustainable type of tourism as well. People attend such events repeatedly, there are new travellers attending such events. People plan their travel around such events as well. So it is quite a momentous and special occasion in people’s lives. “
According to the UN World Tourism Organisation, Singapore’s international tourist arrivals outperformed the rest of the world this year.
The city-state saw an 8 per cent increase in tourist arrivals in the first eight months of this year, compared to the same period a year ago.
Internationally, the growth was 5.3 per cent.
Marcio Favilla, executive director (Competitiveness, External Relations and Partnerships) at United Nations World Travel Organisation, said: “Singapore has a destination that is very well-connected to the rest of the world. Not only to this part of the world, but to other parts of the world.
“Also it’s a traditional destination, a business destination, that also attracts people to medical tourism.
Travel market researcher PhoCusWright is projecting that Singapore’s travel industry will see an 8 per cent growth in gross bookings this year — amounting to S$14 billion.
Singapore"s tourism sector expected to see 8% growth this year
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