Singapore unveils 10-year plan to boost tourism

Asian Economic News, Jan 18, 2005

SINGAPORE, Jan. 11 Kyodo

Singapore on Tuesday unveiled a 10-year plan to boost the country's tourism industry amid stiff competition in the region to attract more foreign visitors.

Trade and Industry Minister Lim Hng Kiang told a news conference the government will spend S$2 billion (US$1.2 billion) in an effort to double the number of overseas visitors to 17 million by 2015, triple the amount of earnings from tourism to S$30 billion and create 100,000 new tourism-related jobs in 10 years.

Last year, the number of overseas visitors to Singapore increased 36% over 2003 to 8.3 million, the first time for tourist arrivals to top 8 million in a single year. The 2004 figure was 400,000 above the Singapore Tourism Board's projection. Earnings from tourism in 2004 totaled S$9.6 billion.

The government's new tourism plan focuses on three key areas -- enhancing Singapore's position as one of Asia's most popular convention and exhibition centers, developing its attractiveness as a holiday destination, and promoting the country as a hub for services such as healthcare and education.

The S$2 billion tourism fund is earmarked to support the initiative in four areas -- infrastructure development, capability development, attracting big events to be organized in Singapore, and developing strategic tourism projects.

According to data provided by the Tourism Board, tourism currently represents 3% of Singapore's gross domestic product and provides 150,000 jobs.

The government hopes the new plan will help Singapore maintain its 6 percent market share of tourism earnings in the Asia-Pacific region, which is expected to soar in the coming years as the rapid economic rise of China and India steers more of their middle-class people to overseas travel.

Lim said Singapore will mobilize the whole tourism sector and make sure the country will maintain its market share.

He said the recent tsunami disaster that hit other parts of Southeast Asia will unlikely have adverse effects on tourism in Singapore.

Singapore recently announced that it plans to build a large-scale ''integrated resort'' with world-class entertainment and leisure facilities, which may include a casino, in a bid to woo visitors to the city-state. Last month, the government invited private sector companies to submit their concept plans.

Lim said the government has not made a final decision on whether to go ahead with the casino plan. He said if alternative options, such as a theme park without a casino, do not go through, the last resort would be to build a new convention center.