Singapore Tourism Board sets Targets of 9.4 Million Visitor Arrivals and S$12 Billion Tourism Receipts for 2006

The Singapore Tourism Board (STB) has set its targets for 2006, aiming to achieve S$12 billion in tourism receipts (TR) and attract 9.4 million visitor arrivals (VA).

The TR and VA targets for 2006 reflect an increase of 11% and 6% over the S$10.8 billion TR and 8.94 million VA achieved in 2005 respectively.

“We have done well in 2005, 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 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. 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 – those in the likes of the lntegrated Resorts, Singapore Flyer, Crazy Horse Paris and London’s Ministry of Sound.”

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 slated 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 first quarter of 2006 and award the Marina Bay IR by middle of the year.

In 2005, the tourism sector generated an estimated S$10.8 billion in tourism receipts (TR). Singapore also set a new high of 8.94 million visitor arrivals (VA) last year. Total visitor days achieved a double-digit growth of 14% to reach 30.6 million days in 2005.

In the first half of this year, the Urban Redevelopment Authority has put three hotel sites under the Government Land Sales programme for the private sector to trigger for tender. The STB will work closely with the private sector on the hotel room supply in Singapore to ensure that the supply will keep pace with the demand for hotel rooms.

In 2005, Singapore hotels recorded 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 S$136; while the Average Occupancy Rate (AOR) was estimated to have reached 84% in 2005, a 3.4 percentage points increase over 2004.

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