STB projects 10% increase in visitor growth this year
By Vimita Mohandas | Posted: 23 March 2012 1012 hrs
SINGAPORE: The Singapore Tourism Board (STB) expects more visitor arrivals for Singapore for 2012.
It has projected an increase of up to 10 per cent, from 2011 - at between 13.5 and 14.5 million arrivals.
But it'll be slower than the 13.8 per cent achieved in 2011.
Second Minister for Trade and Industry S Iswaran gave this assessment at a tourism industry conference on Friday.
He said the STB has also projected tourism receipts of between S$23 billion and S$24 billion in 2012, an increase of up to 8 per cent from 2011.
He said this is a conservative forecast, based on the global economic uncertainties and moderate growth forecast.
He added that Singapore needs to continually innovate to stay ahead of the curve.
As such, the government will be pumping in a second tranche of tourism development funding worth S$905 million.
Two-thirds of the amount will be used for new tourism ventures and projects over five years.
- CNA/ck
sources: http://www.channelnewsasia.com/stories/singaporelocalnews/view/1190771/1/.html
