Singapore Tourism Board has released their Annual Report, where they discuss the strategies to be followed in order to continue to offer a competitive tourism product in the international market.
SINGAPORE – Singapore Tourism Board has released their Annual Report, where they discuss the strategies to be followed in order to continue to offer a competitive tourism product in the international market. In their Annual report, they note:
The Singapore tourism industry is at a crossroads. After the unprecedented growth of the past few years, the time is upon us to ask ourselves: should we continue in the same vein that has given the country its current success? Or perhaps consider how we should create value that will help grow the flourishing tourism landscape in a sustainable manner?
We are competing in interesting times, as internal and external constraints pose real and urgent concerns for the future of Singapore tourism. Exponential tourism growth driven by a rapidly developing Asia, the country’s small size, infrastructure constraints and limited manpower resources are all major pressure points bearing down on the industry. At the same time, travellers are becoming much more discerning. Increasingly, they come with greater expectations and demands as increasing global connectivity and an ever-expanding array of choices open doors to new and diverse experiences.
In response, we have started exploring the road less travelled towards quality tourism. To this end, STB has begun gearing up for a shift towards a visitor-centric approach to developing the tourism sector, and become more targeted in our marketing approach. As part of this shift, we go deeper in understanding their needs so that we can engage them with differentiated quality experiences which are customised to the markets and deliver greater resonance among new and repeat visitors. At the same time, we foster deeper industry collaboration with our stakeholders to strengthen our core competencies and raise overall industry capabilities. This is with the eventual aim to unlock greater value for the industry.
Striving for quality tourism is a bold but crucial step. It is aimed at sustaining our dynamism and appeal in the long run while taking into account our challenges and binding constraints. The journey has already begun, as new approaches and mindsets took root in many of the activities and initiatives of the past year.
Singapore Tourism Board Annual Report 2012 Financial Statements
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