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     FrontPage Edition: Sat 26 January 2008

 Singapore attracted 10.3 million visitor arrivals in 2007


Singapore Tourism Sets New Records with S$13.8 Billion in Tourism Receipts and 10.3 Million in Visitor Arrivals

The Singapore Tourism Board (STB) announced record performance for Singapore’s tourism sector in 2007 at the ASEAN Tourism Forum (ATF) held in Bangkok, Thailand today (23 Jan 2008).
Singapore’s tourism sector generated an estimated S$13.8 billion in tourism receipts (TR) in 2007, setting a new record for TR and surpassing the target of S$13.6 billion with a growth of 11.3% over 2006.
Singapore also set a new high of 10.3 million visitor arrivals (VA) last year, exceeding its target of 10.2 million VA and posting an increase of 5.4% over 2006. Total visitor days grew 13.4% to reach 38 million days in 2007.
The top five markets for 2007 were Indonesia (1,956,000 visitors), PR China (1,114,000 visitors), Australia (768,000 visitors), India (749,000 visitors), and Malaysia (646,000 visitors), which accounted for about 51% of total visitor arrivals.
Among its top 10 markets, nine showed growth, with India (14%), Australia (11%), the Philippines (8%) and PR China (7%) posting the largest percentage growths. Eight markets achieved record high visitor arrivals in 2007. These are Indonesia, PR China, Australia, India, United Kingdom, South Korea, the Philippines and U.S.A.
The hospitality industry also performed well in 2007, achieving records in all areas. The average occupancy rate (AOR) for the hotel sector reached 87% from January to December 2007, increasing by 1.7 percentage point over the same period in 2006.
The Average Room Rate (ARR) for 2007 was estimated at S$202, a growth of 23.1% over 2006. Total room revenue (TRR) rose 22.8% over 2006 to reach S$1.8 billion during this period. Revenue per available room (Revpar) also grew by 25.6% compared to 2006 to reach S$176.
“2007 has been a good year for Singapore's tourism sector with broad-based growth across sectors and markets, continuing the strong growth momentum over the last few years. The strong performance can be attributed to the continued economic strength in our key markets, as well as the growth of low cost carriers in the region which have led to more affordable air travel and greater accessibility to Singapore. At the same time, we have continued with our efforts to promote Singapore in our key markets and develop new tourism products that have strengthened Singapore’s appeal as a destination,” said Mr Lim Neo Chian, Deputy Chairman and Chief Executive of the STB.
Singapore has enjoyed four successive years of record growth in VA and TR since 2004 with an uninterrupted monthly year-on-year growth for 46 months since March 2004.
2007 saw a strong line-up of leisure as well as meetings, incentive travel, exhibitions and conventions (MICE) events. These include the Great Singapore Sale, Christmas in the Tropics, ZoukOut, the annual CommunicAsia and BroadcastAsia, 2007 Herbalife Asia Pacific Extravaganza, Games Convention Asia 2007 and Imaging Expo Singapore. These events attracted both international and regional visitors.
In August 2007, the Uniquely Singapore Weekends campaign was launched, positioning Singapore as a top-of-mind weekend destination among visitors from seven regional cities.
Last year Singapore successfully secured the rights to host a FORMULA ONE race for five years, starting with the inaugural 2008 Formula 1™ SingTel Singapore Grand Prix. It was also confirmed as the first South East Asian stopover city in the Volvo Ocean Race 2008/2009.
“Much groundwork has been done over the last few years and we are confident the exciting new products coming on stream this year and in the coming years will further strengthen Singapore’s appeal as a must-visit destination. STB will continue to focus its marketing and promotional efforts on key markets such as China and India, and emerging markets such as the Middle East, Russia and Vietnam, which have shown strong growth potential,” added Mr. Lim.
2008 will witness many new tourism developments unfolding, with the launch of the Singapore Flyer in March, the inaugural 2008 Formula 1™ SingTel Singapore Grand Prix on 28 September 2008, and major international MICE events such as the Singapore Airshow in February, the inaugural Singapore International Water Week in June and for the first time in Singapore, ITB Asia in October.
These new projects, as well as upcoming ones like the two integrated resorts, the rejuvenation of Orchard Road, development plans for the Mandai area, Gardens by the Bay, Sports Hub and National Art Gallery, will put Singapore firmly on track to achieve its Tourism 2015 goals of $30 billion in tourism receipts and 17 million visitor arrivals.

Source: Media Release 23 Jan 2008

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