Travel And Tourism Market In Singapore

By Author: Bharat Book Bureau
Total Articles: 1486
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June 29,2013 : Bharat Book Bureau presents the new report, on 'Travel and Tourism in Singapore' However, international arrivals registered growth during the review period (2008−2012).

Synopsis

The report provides detailed market analysis, information and insights, including:
- Historic and forecast tourist volumes covering the entire Singapore travel and tourism sector
- Detailed analysis of tourist spending patterns in Singapore
- The total, direct and indirect tourism output generated by each category within the Singapore travel and tourism sector
- Employment and salary trends for various categories in the Singapore travel and tourism sector, such as accommodation, sightseeing and entertainment, foodservice, transportation, retail, travel intermediaries and others
- Detailed market classification across each category with analysis using similar metrics
- Detailed analysis of the airline, hotel, car rental and travel intermediaries industries

Summary

Domestic and outbound tourism in Singapore recovered from a decline caused by an overhang of the financial ...
... crisis in 2009. However, international arrivals registered growth during the review period (2008−2012). Singapore has a modern, well-developed transport infrastructure, and its air and rail networks are considered by some to be among the finest in Asia. The country's ports provide a natural hub for shipping to and from Europe, the Americas and Asia-Pacific. Tourism has a large-scale impact on the country’s economy and according to the World Travel and Tourism Council (WTTC), in 2012, accounted for 11.3% of the country’s GDP and comprised 9.1% of its total employment.

Scope

This report provides an extensive analysis related to tourism demands and flows in Singapore:
- It details historical values for the Singapore tourism sector for 2008–2012, along with forecast figures for 2013–2017
- It provides comprehensive analysis of travel and tourism demand factors with values for both the 2008–2012 review period and the 2013–2017 forecast period
- The report provides a detailed analysis and forecast of domestic, inbound and outbound tourist flows in Singapore
- It provides employment and salary trends for various categories of the travel and tourism sector
- It provides comprehensive analysis of the trends in the airline, hotel, car rental and travel intermediaries industries with values for both the 2008–2012 review period and the 2013–2017 forecast period

Reasons To Buy

- Take strategic business decisions using historic and forecast market data related to the Singapore travel and tourism sector
- Understand the demand-side dynamics within the Singapore travel and tourism sector, along with key market trends and growth opportunities
- Identify the spending patterns of domestic, inbound and outbound tourists by individual categories
- Analyze key employment and compensation data related to the travel and tourism sector in Singapore

Key Highlights

- Singapore’s tourism sector has a greater dependency on inbound tourism than domestic tourism. This is mainly due to the relatively small size of its population and geographical area. In 2012, Singapore registered 145,866 domestic trips, while inbound trips registered 20.9 million.
- Inbound tourism increased at a review-period CAGR of 9.17%, with total arrivals increasing from 10.1 million in 2008 to 14.4 million in 2012. The highest annual growth rate of 20.2% was recorded in 2010. In 2017, inbound tourist arrivals are expected to reach 20.9 million, representing a forecast-period CAGR of 7.74%. The key drivers of this growth are expected to be improving economic forecasts in key European source countries, greater access to travel services at competitive prices, and government efforts to promote Singapore as a tourist destination.
- The government and the Singapore Tourism Board (STB) jointly undertook promotional initiatives to achieve a growth in inbound tourist flows. STB launched the YourSingapore branding campaign.
- Singapore is the second-largest source market of outbound tourism in South-East Asia. The most popular foreign destinations for its outbound tourists are Malaysia, Indonesia and Thailand. Malaysia alone accounted for 73.4%, or 5.8 million international departures from Singapore. Singapore is also an important market for Australia. Outbound trips to Australia increased from 151,135 in 2010 to 158,065 in 2012, with tourists attracted by festivals.
- Singapore’s domestic and international air traffic volume increased during the review period. The volume of passengers carried reached 51.2 million in 2012, expanding at a review-period CAGR of 7.95%. Over the forecast period, the number of passengers carried is expected to increase at a CAGR of 4.95% to reach 65.2 million. The total revenue is also anticipated to increase from SGD21.4 billion (US$17.2 billion) in 2012 to SGD28.4 billion (US$22.7 billion) in 2017. This growth is in line with increasing tourist volumes and air capacity.
- Room occupancy rates increased during the review period from 81.0% in 2008 to 86.7% in 2012. Upscale hotels had the highest occupancy rate of 88.0% in 2012, followed by midscale hotels with 87.0%. Over the forecast period, the rate is expected to increase to 87.9% in 2017. Upscale hotels will continue to have the highest occupancy rate of 89.2% in 2017.
- Singapore’s car rental market grew at a CAGR of 4.11% during the review period to reach a value of SGD192.7 million (US$154.3 million) in 2012. Car rental value is expected to reach SGD225.7 million (US$180.7 million) by 2017, representing a forecast-period CAGR of 3.21%. The increase in international and domestic tourist volumes, a rise in the number of business travelers and new advertising strategies adopted by car rental companies will fuel growth.
- Singapore’s travel intermediaries industry is anticipated to post a forecast-period CAGR of 7.03%, to reach SGD5.1 billion (US$4.1 billion) in 2017. This increase will be driven by a rise in discretionary spending, an increase in business travel and international promotional activities by Singapore’s tourist board. The market share of online intermediaries is expected to increase from 13.3% in 2012 to 27.1% in 2017. Consequently, the market share of in-store channels is anticipated to decline from 86.7% in 2012 to 72.9% in 2017.

About Author Bio: I am working with a market research company which provides market research reports , company profiles, custom research, industry analysis, country reports , business reports, online databases and the report on
Travel and Tourism in Singapore .Through our industry analysis you can identify opportunities, analyze the requirements of the customers and study the competition sector wise.