Singapore sets ambitious goals for 2008
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By N Gunalan
Singapore’s tourism industry was last night feted to the buffet of offerings that is coming up this year, including the ambitious target to attract 10.8 million visitor arrivals, injecting S$15.5 billion in spend.
Singapore Tourism Board’s Chairman Simon Israel said the industry’s performance last year was stellar, with record arrival numbers, spend as well as hotel occupancy and rates.
“Singapore’s tourism sector has improved vastly from a few years ago. Since 2004, we have grown visitor arrivals by 25% to 10.3 million and tourism receipts by 45% to $13.8 billion. Our Average Room Rates have increased by 66% since 2004, redefining the economics of the industry.”
This year, Singapore is set to host several inaugural major international events such as the Singapore Airshow, Singapore International Water Week and ITB Asia. It will also see the opening of the Singapore Flyer next month and the staging of the Formula 1 SingTel Singapore Grand Prix.
At the event, Minister of State for Trade and Industry, S Iswaran, said the hotel sector will see another 12,000 more rooms in the next three to four years.
He said more details on the new International Cruise Terminal at Marina South, expected to be ready in 2010, would be revealed in March.
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