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Singapore Tourism Board

STB exceeds 2005 targets and sees increase for 2006

The Singapore Tourism Board (STB) has announced its targets for 2006 – to achieve …

The Singapore Tourism Board (STB) has announced its targets for 2006 – to achieve £4.15 billion (S$12 billion) in tourism receipts (TR) and attract 9.4 million visitor arrivals (VA). The targets reflect an increase of  11% and 6% respectively over the record breaking TR and VA 2005 figures – £3.7 billion (S$10.8 billion) TR and 8.94 million VA.

2005 visitor figures from the UK to Singapore increased 2.2% on 2004, rising to 467,097 and accounted for 5.2% of the total VA to Singapore. The visitor arrival figures are the highest recorded since 2002.

“We have done well in 2005 with the continued support of our international industry partners, and we must keep up this momentum of good growth with the aim to do better. The 2006 targets are in line with achieving the STB`s long-term targets of £10.4 billion (S$30 billion) by 2015. To maintain our TR growth momentum, we will put more emphasis on driving higher tourist spend this year, even as we try to get more visitor days out of our current stock of hotel rooms. This would mean that we must create more new and exciting tourism products and enriching experiences for our visitors,” said the STB`s Deputy Chairman & Chief Executive, Mr Lim Neo Chian.

“We will need to sustain our efforts in focusing on key target markets and building the Uniquely Singapore brand in 2006”. He continued, “in addition, we will continue to transform and remake Singapore into a vibrant and must-visit destination, through working with local and international tourism players to bring in or develop world class products.”

Some exciting plans are already in the pipeline for 2006. The STB has unveiled Phase Two of the Uniquely Singapore brand campaign through a global print and television campaign. Having established the “unique blend” of the best of the modern world and rich cultures in Phase One, the STB will now embark on delivering enriching and memorable experiences for each discerning visitor. “Unique, Personal Experiences” will focus on what every consumer experiences during his visit to Singapore.

A new MICE (Meetings, Incentives, Conventions, Exhibitions) marketing campaign is also expected to be launched around the first quarter of 2006, while Singapore gears up to host the 2006 Annual Meetings of the Board of Governors of the International Monetary Fund and World Bank Group in September. The STB also expects to launch the Request For Proposals for the Integrated Resort (IR) at Sentosa by the first quarter of 2006 and award the Marina Bay IR by middle of the year.

In 2005, Singapore hotels recorded £415 million (S$1.2 billion) in room revenue, an increase of 16% over the same period in 2004. The Average Room Rate (ARR) grew at 12% over 2004 to reach an estimated £47 (S$136); while the Average Occupancy Rate (AOR) was estimated to have reached 84% in 2005, a 3.4% increase over 2004.

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