Singapore Tourism Board (STB) announces its targets for 2005 – to attract 8.9 million visitors to Singapore…
Singapore Tourism Board (STB) announces its targets for 2005 – to attract 8.9 million visitors to Singapore and generate S$10.4 billion in tourism receipts.
These targets follow a bumper year for tourism in Singapore. They represent a 6.9% and 8.3% increase in visitor arrivals and tourism receipts respectively over the tourism industry’s record performance in 2004.
In January 2004, the STB announced its goal to restore the tourism industry’s performance to 2002 pre-SARS levels. Last year, Singapore welcomed a record 8.3 million visitors, close to 10% above the STB’s target of 7.6 million visitors, achieving close to 36% over 2003’s arrivals and 10% increase over 2002’s arrivals.
The tourism industry generated an estimated S$9.6 billion in tourism receipts, about 10% above STB’s target of S$8.7 billion in 2004. The achievement of S$9.6 billion in receipts represents a 38% increase over 2003’s receipt of S$6.9 billion, and 8.7% growth over 2002’s receipt of S$8.8 billion.
Singapore welcomed more than 6 million visitors from Asia, accounting for 73% of total visitor arrivals in 2004. This represents an increase of 38% over 2003 and 14% over 2002. Indonesia (1,765,000 visitors), China (880,000), Japan (599,000), Australia (561,000) and Malaysia (531,000) emerged as the top 5 markets last year, accounting for about 52% of total visitor arrivals in 2004. China, India (471,000), Indonesia, Thailand (342,000), the Philippines (246,000), and Australia also hit a record high in arrivals for 2004.
Indonesia and China remained Singapore’s two largest visitor-generating markets, posting a 27% and 31% increase in arrivals respectively over 2002.
India, Singapore’s 6th largest visitor-generating market posted a 25% growth compared to 2002, with 471,000 visitors last year. Thailand (342,000 visitors) and the Philippines (246,000 visitors) are two other Asian markets which posted strongest growth in 2004 over 2002, recording 30% and 26% increases in visitor arrivals respectively.
Hotel room revenue in 2004 is estimated to reach about S$1 billion, 1% improvement over 2002, and a 33.6% rise over 2003. Hotels also enjoyed an average occupancy rate of 80.7% in 2004, 13.5% above 2003 and 6.3% increase over 2002.
Mr Lim Neo Chian, STB’s Deputy Chairman and Chief Executive said: “The tourism sector’s robust performance in 2004 could not have been achieved without the strong support of our local and international industry partners. 2004 may have been a record year for tourism with Singapore receiving a record of more than 8.3 million visitors, but we will not be resting on our laurels.
“We aim to do even better in 2005. Beyond visitor numbers and tourism receipts, our key priorities for 2005 include driving innovative product development and laying a strong foundation to move the tourism sector closer to achieving the Tourism 2015 targets.”
On 11 January 2005, STB unveiled Tourism 2015, its vision for Singapore’s tourism industry over the next 10 years. The STB aims to double visitor arrivals to 17 million, triple tourism receipts to S$30 billion and add 100,000 new jobs to the tourism industry by 2015.
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