The tourism sector is an important pillar of Singapore’s economy, accounting for 4% of GDP, 150,000 jobs and S$10.8 billion in tourism receipts.

Singapore has big plans to grow tourism into a key economic engine – tripling tourism receipts to S$30 billion, doubling visitors arrivals 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 decade, catalysed by a S$2 billion Tourism Development Fund.

Singapore posted an estimated S$13.8 billion in tourism receipts from January to December 2007, representing an 11.3% increase over January to December 2006. This set a new record for tourism receipts. In the same year, Singapore also welcomed 10.3 million visitors, registering a growth of 5.4% over 2006. This is the highest annual visitor arrivals recorded for the Singapore tourism sector.

Benefiting from the record visitor arrivals, the hotel industry saw both the Average Room Rate and Average Occupancy Rate setting new highs. Total room revenue was estimated to reach an all-time high of S$1.8 billion, an increase of 22.8% over 2006. The Average Room Rate for the full year of 2007 was estimated at S$202, an increase of 23.1% over 2006. The Average Occupancy Rate for hotels was estimated to have reached 87%, a 1.7 percentage point increase over the previous year.

The upcoming Integrated Resorts (IR) have generated tremendous buzz. They are envisaged to be large-scale iconic developments with a compelling mix of convention and exhibition facilities, themed attractions, entertainment and performances venues, recreation facilities, hotel, retail uses, encompassing a small gaming component, offering a multi-faceted experience. The IRs are expected to boost Singapore's attractiveness as a destination and enhance our tourism appeal and reputation. Marina Bay Sands incorporates significant MICE facilities to cater to businesses and MICE visitors, while Resorts World Sentosa will be a world-class tropical resort that offers the whole family a fun and memorable experience. The two projects combined with add more than $10 billion in investments to Singapore.

In addition to the Integrated Resorts, there are other exciting developments, including:

• The Singapore Flyer, the world's largest Giant Observation Wheel with a stunning view from 178m above sea-level. It has begun operations on 1 Mar 2008.
• Preparations for the inaugural 2008 FORMULA 1 Singtel Singapore Grand Prix night race is in earnest. The race will be held from 26th Sep to 28th Sep 2008.
• The 2nd Singapore Biennale will also be held from 11 Sept to 16 Nov. Exihibitions and performances will be held at various venues eg City Hall, Esplanade Waterfront, Singapore Flyer, Southbeach development, Fullerton Properties etc.

Also, in the Travel and Tourism Competitiveness Report 2008 announced at the World Ecnomic Forum at Davos in 2008, Singapore scored an overall rank of 16 out of 130 countries profiled. Singapore scored first in the following categories: Policy rules and regulations, Ground transport infrastructure, and Human resources overall, including the availability of qualified labour.

Some Major Employers:

Major employers in the Tourism cluster include Hotels, Food & Beverage establishments and the attractions etc.

For more information, please refer to the Singapore Tourism Board website.

Related websites include Singapore Hotel Association and Restaurant Association of Singapore.