Tourism and Lifestyle

Travel and Tourism in Singapore to 2020

  • CAN593647
  • 112 Pages
  • May 2016
  • Tourism and Lifestyle
Summary
Singapores tourism sector registered growth in 2015, driven by Singapore Tourism Boards (STB) efforts to attract tourists by launching tourism promotion campaigns. With a share of 47.4% of the total outbound trips in 2015, Malaysia remained the largest destination market for Singapore. A strong Singapore dollar encouraged Singaporeans to take more outbound trips rather than domestic trips.

Key Findings
-Inbound tourism in Singapore registered healthy growth during 2010-2015, with trips increasing from 9.2 million in 2010 to 12.1 million in 2015. Growth was largely driven by the Singapore Tourism Boards (STB) efforts to attract tourists by investing in tourism promotion campaigns. However, arrivals from countries such as Australia, Indonesia, Malaysia, and Japan dipped in 2015 due to the strong appreciation of the Singapore dollar against the currencies of respective countries. Domestic trips totaled 152,691 in 2015 while outbound trips stood at 8.8 million. Being a neighboring country, Malaysia is the most preferred outbound travel destination for Singapore residents, accounting for 47.4% of the total outbound trips in 2015. Inbound arrivals are projected to increase at a CAGR of 6.56% over the forecast period (2016-2020). Along with STBs promotional efforts, foreign partnerships, such as with MasterCard and Alitrip, will support this growth

-According to STB Executive Director, Chee Pey Chang, for Singapores cruise tourism, India is the largest foreign source market. India is one of the most attractive source markets globally with outbound tourism demonstrating impressive growth in recent years. In 2015, Singapore received one million Indian tourists, which depicted growth of 7.5% from 2014. To further attract Indian visitors, STB launched a week-long road show in January 2016 in the countrys major cities: Mumbai, Bengaluru, New Delhi, and Chennai. Leisure is the main purpose of travel for Indians to Singapore

-SIA increased its stake in low-cost airline Tigerair to over 95.6% in March 2016. SIA aims to delist the Tiger Airways and integrate it into the SIA Group. The takeover will enhance the outlook of the group, especially for Scoot Pte Ltd., a LCC medium/long-haul airline owned by SIA


Synopsis
Canadeans report - Travel and Tourism in Singapore to 2020 - provides detailed information on the countrys 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.

What else does this report offer?

-Historic and forecast tourist volumes covering the entire Singaporean Travel and Tourism sector

-Detailed analysis of tourist spending patterns for various categories, such as accommodation, sightseeing entertainment, foodservice, transportation, retail, travel intermediaries, and others

-Analysis of trips by purpose and mode of transport, and expenditure across various categories including domestic, inbound, and outbound tourism, with analysis using similar metrics

-Analysis of the airline, hotel, car rental, and travel intermediaries industries by customer type - leisure and business travelers


ReasonsToBuy
- Make strategic business decisions using historic and forecast market data related to Singapores Travel and Tourism sector

- Understand the demand-side dynamics within the industry to identify key market trends and growth opportunities

- Direct the promotional efforts on most promising markets by identifying the key source and destination countries


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