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     FrontPage Edition: Thu 13 January 2005

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Singapore tourism targeted to net S$30 billion by 2015

Source: www.stb.gov.sg

Singapore Tourism Board lays out ambitious targets of tripling Tourism Receipts and creating 100,000 additional jobs in the tourism industry by 2015, supported by a S$2 billion Tourism Development Fund

Minister for Trade and Industry, Mr Lim Hng Kiang, unveiled the Singapore Tourism Board’s (STB) bold targets to ensure that tourism remains a key economic pillar by tripling Tourism Receipts (TR) to S$30 billion, doubling visitor arrivals (VA) to 17 million, and creating an additional 100,000 jobs in the services sector by 2015.
These targets will drive future initiatives and catapult growth in the tourism industry over the next 10 years, catalysed by a S$2 billion Tourism Development Fund.
TOURISM PERFORMANCE IN 2004
The tourism industry performed well in 2004, exceeding STB’s targets for both tourism receipts and visitor arrivals. Tourism generated an estimated S$9.6 billion in tourism receipts in 2004, exceeding STB’s target of S$8.7 billion for the year.
Singapore also welcomed 8.3 million visitors in 2004, a record high and a significant increase of 36 per cent over 2003 and 10 per cent over 2002. This surpasses the STB’s target of achieving 7.6 million visitors in 2004.
2015 – VISION, TARGETS AND INITIATIVES
Set against the backdrop of growing opportunities from both traditional outbound markets including the United States, Europe and Japan, and high-growth potential markets such as China and India, the STB is setting ambitious targets for 2015.
This is to ensure that the tourism sector in Singapore remains competitive and continues to be a key contributor to the economy in the years to come.
By 2015, Singapore aims to be a destination of choice, a powerful tourism hub attracting visitors, businesses and talents from across the world by 2015. The STB has identified three key areas of focus:
(a) Strengthening Singapore’s position as a Leading Convention & Exhibition City in Asia with a strong and dynamic business environment
 
(b) Developing Singapore as a leading Asian leisure destination by providing an enriching experience that is Uniquely Singapore.
 
(c) Establishing Singapore as the Services Centre of Asia – a place where visitors come to enjoy high-end quality services such as healthcare and education services.
More.....

Source: www.stb.gov.sg Press Release 11 Jan 2005

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