Singapore Travel and Tourism Sector Rise: Ken Research REQUEST FOR SAMPLE REPORT Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit 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. 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 Singapore’s 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. 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 S$38.48 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. 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 India’s major cities: Mumbai, Bangalore, New Delhi and Chennai to promote tourism. For future opportunities, the tourism industry in Singapore will get S$700 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. 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 S$55 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.kenresearch.com/media-and-entertainment/tourism/travel-tourism-colombia/39462-94.html https://www.kenresearch.com/media-and-entertainment/tourism/travel-tourism-malaysia-2020/31999-94.html Contact: Ken Research Ankur Gupta, Head Marketing & Communications query@kenresearch.com +91-124-4230204 Tags: Global Tourism Sector Research, Singapore Hospitality Industry, Singapore Hotel Industry, Singapore Hotel Industry Size, Singapore Inbound Tourists, Singapore Outbound Tourists, Singapore Tourism Industry Research Report, Singapore Tourism Sector Regulations, Singapore Travel and Tourism Market Outlook, Singapore Travel and Tourism Market Revenue