Travel And Tourism in Singapore
Euromonitor International's Travel And Tourism in Singapore report offers a comprehensive guide to the market at a national level. It looks at travel accommodation, transportation, car rental, tourist attractions and retail travel. It identifies the leading companies and offers strategic analysis of key factors influencing the market, including background information on disposable income, annual leave and holiday taking habits.
Buy online to access strategic market analysis and an interactive statistical database of market size data for travel accommodation, transportation, car rental, travel retail, tourism attractions and health and wellness tourism, tourism inflows and outflows, tourism spending and company and brand shares.
Tables: 107 | Publication date: Oct 2008
Why buy this report
- Get insight into trends in market performance
- Pinpoint growth sectors and identify factors driving change
- Identify market and brand leaders and understand the competitive environment
Product coverage
Car rental; Demand factors; Health & wellness tourism; Tourism flows domestic; Tourism flows inbound; Tourism flows outbound; Tourism receipts and expenditure; Tourist attractions; Transportation; Travel accommodation; Travel retail
Executive summary
High occupancy and increase in room rates in hotels
Hotels achieved high occupancy rates in 2007, which led to increases of up to 25% in room rates. With tourist arrivals at a record high, supply could barely keep up with demand for rooms, thus resulting in hotel occupancy of nearly 90%. A few hotels were opened in 2007 and many more are set for completion in 2008. Under the Government Land Sales Programme, the Urban Redevelopment Authority (hereafter referred to as the URA) has earmarked several sites for hotel development in order to increase the supply of hotel rooms whilst many foreign and local investors have begun construction of hotels in Singapore.
Travel and tourism to receive a boost from upcoming major tourist attractions
There are many major new tourist attractions on the horizon in Singapore. Upcoming developments in 2008 include the Singapore Flyer, the first ever Formula One night race in October and three new shopping centres on Orchard Road (the principle street for shopping in Singapore). The Formula One race is significant because it will be a street race that showcases iconic buildings and it will be televised to the world, thus drawing huge attention to Singapore. Other new attractions that are generating excitement are planned developments that are set to take place from 2009 until 2015, such as rejuvenation of Orchard Road at an investment of S$240 million and the development of “Gardens by the Bay” in the Marina Bay area as well as the development of Integrated Resorts by the Genting Group and Las Vegas Sands Corp at an investment of S$8 billion.
Strong growth in arrivals in 2007
Arrivals continued to increase in 2007, mainly due to the increasing strength of Asian economies, a reduction in scheduled airline fares and new low cost carrier routes and frequencies to North Asian destinations. Also the efforts of the Singapore Tourism Board (hereafter referred to as the STB) with its “Uniquely Singapore” and “Uniquely Singapore Weekends” promotions to neighbouring countries helped to boost arrivals, as did a strong increase in the number of MICE business arrivals due to the fact that there were many large conferences in Singapore in 2007. Arrivals from India, Malaysia and Saudi Arabia all achieved strong growth in 2007. Growth in arrivals for Indonesia and China remained strong while growth in arrivals from developed countries such as the US, Japan and countries in Europe was relatively weak due to political issues, the sub-prime mortgage crisis and weakening of the US dollar.
Departures outstrip supply of airline tickets
Departures achieved strong growth in 2007 due to the increasing affluence of Singaporeans owing to increases in disposable income and increased economic optimism. Singaporeans developed a greater appetite to travel in 2007 and large travel agencies experienced record demand at travel fairs. Popular destinations in 2007 were Thailand, Australia, Japan, Korea, Europe and China. Travellers also booked their tour packages and flights early owing to their perceived shortage of flights and in order to secure the best deal. Outbound scheduled flights did not increase at the same rate as the number of consumers who booked travel packages thus the price of outbound flights began to increase. Low cost carriers experienced record growth as they increased the frequency of flights to destinations in South-East Asia and in North Asia and as they ventured into medium-haul flights. Despite a year of high fuel surcharges owing to volatility regarding the price of oil, air travel was extremely popular.
A bumper year for MICE
An increasing number of companies chose to hold meetings and other such events in Singapore in 2007. Therefore most venues and hotels experienced a bumper year for corporate meetings, which contributed to the high rate of occupancy in hotels and increased room rates. Also, the lead time for bookings was reduced in 2007 to one to two weeks from three to four weeks with some venues being able to accommodate last-minute events, which helped to garner more bookings.
Table of contents
TRAVEL AND TOURISM IN SINGAPORE : MARKET INSIGHT
EXECUTIVE SUMMARY
High occupancy and increase in room rates in hotels
Travel and tourism to receive a boost from upcoming major tourist attractions
Strong growth in arrivals in 2007
Departures outstrip supply of airline tickets
A bumper year for MICE
KEY TRENDS AND DEVELOPMENTS
Economic Indicators
Legislative Environment
Government tourism policy and sustainable tourism
Consumer lifestyles
Low cost carrier development
Emerging niche sectors
Internet developments
TERRORISM AND SECURITY
LEAVE ENTITLEMENT
CONSUMER DEMOGRAPHICS
BALANCE OF PAYMENTS
MARKET INDICATORS
Table 1 Leave Entitlement: Volume 2005-2007
Table 2 Holiday Demographic Trends 2002-2007
Table 3 Holiday Takers by Sex 2002-2007
Table 4 Holiday Takers by Age 2002-2007
Table 5 Length of Domestic Trip: 2002-2007
Table 6 Length of Outbound Departure: 2002-2007
Table 7 Seasonality of Trips 2005-2007
MARKET DATA
Table 8 Balance of Tourism Payments: Value 2002-2007
DEFINITIONS
Tourism Parameters
Travel accommodation
Transportation
Car rental
Travel retail
Tourist attractions
Health and wellness
Internet sales
Internet sales: dynamic packaging
Internet sales: traditional package holiday
Sources
Summary 1 Research Sources
LOCAL COMPANY PROFILES - SINGAPORE
CHAN BROS TRAVEL PTE LTD - TRAVEL AND TOURISM - SINGAPORE
STRATEGIC DIRECTION
KEY FACTS
Summary 2 Chan Bros Travel Pte Ltd: Key Facts
Summary 3 Chan Bros Travel Pte Ltd: Operational Indicators
COMPANY BACKGROUND
COMPETITIVE POSITIONING
Summary 4 Chan Bros Travel Pte Ltd: Competitive Position 2007
RAFFLES HOLDINGS LTD - TRAVEL AND TOURISM - SINGAPORE
STRATEGIC DIRECTION
KEY FACTS
Summary 5 Raffles Holdings Ltd: Key Facts
Summary 6 Raffles Holdings Ltd: Operational Indicators
COMPANY BACKGROUND
COMPETITIVE POSITIONING
Summary 7 Raffles Holdings Ltd: Competitive Position 2007
SINGAPORE AIRLINES LTD (SIA) - TRAVEL AND TOURISM - SINGAPORE
STRATEGIC DIRECTION
KEY FACTS
Summary 8 Singapore Airlines Ltd (SIA) : Key Facts
Summary 9 Singapore Airlines Ltd (SIA) : Operational Indicators
COMPANY BACKGROUND
COMPETITIVE POSITIONING
Summary 10 Singapore Airlines Ltd (SIA): Competitive Position 2007
TIGER AIRWAYS PTE LTD - TRAVEL AND TOURISM - SINGAPORE
STRATEGIC DIRECTION
KEY FACTS
Summary 11 Tiger Airways Pte Ltd : Key Facts
COMPANY BACKGROUND
COMPETITIVE POSITIONING
Summary 12 Tiger Airways Pte Ltd : Competitive Position 2007
ZUIJI TRAVEL PTE LTD - TRAVEL AND TOURISM - SINGAPORE
STRATEGIC DIRECTION
KEY FACTS
Summary 13 Zuji Travel Pte Ltd : Key Facts
Summary 14 Zuji Travels Pte Ltd: Operational Indicators
COMPANY BACKGROUND
COMPETITIVE POSITIONING
TOURISM FLOWS INBOUND IN SINGAPORE
HEADLINES
TRENDS
COUNTRY OF ORIGIN
INBOUND DEMOGRAPHIC PROFILE
MODE OF TRANSPORT
PURPOSE OF VISIT
INCOMING TOURIST RECEIPTS BY COUNTRY
PROSPECTS
SECTOR DATA
Table 9 Arrivals by Country of Origin: 2002-2007
Table 10 Leisure Arrivals by Type 2005-2007
Table 11 Business Arrivals: MICE Penetration 2005-2007
Table 12 Arrivals by Method of Transport: 2002-2007
Table 13 Arrivals by Purpose of Visit: 2002-2007
Table 14 Incoming Tourist Receipts by Country: Value 2002-2007
Table 15 Tourism Expenditure by Sector: Value 2002-2007
Table 16 Method of Payments for Incoming Tourist Receipts: % Breakdown 2005-2007
Table 17 Forecast Arrivals by Country of Origin: 2007-2012
Table 18 Forecast Arrivals by Method of Transport: 2007-2012
Table 19 Forecast Arrivals by Purpose of Visit: 2007-2012
Table 20 Forecast Incoming Tourist Receipts by Country: Value 2007-2012
TOURISM FLOWS OUTBOUND IN SINGAPORE
HEADLINES
TRENDS
DESTINATIONS
OUTBOUND DEMOGRAPHIC PROFILE
MODE OF TRANSPORT
PURPOSE OF VISIT
OUTGOING TOURIST EXPENDITURE BY COUNTRY
PROSPECTS
SECTOR DATA
Table 21 Departures by Destination: 2002-2007
Table 22 Leisure Departures by Type 2005-2007
Table 23 Business Departures: MICE Penetration % Breakdown 2005-2007
Table 24 Departures by Method of Transport: 2002-2007
Table 25 Departures by Purpose of Visit: 2002-2007
Table 26 Outgoing Tourist Expenditure by Country: Value 2002-2007
Table 27 Outgoing Tourist Expenditure by Sector: Value 2002-2007
Table 28 Method of Payments for Outgoing Tourism Spending: % Breakdown 2005-2007
Table 29 Forecast Departures by Destination: 2007-2012
Table 30 Forecast Departures by Method of Transport: 2007-2012
Table 31 Forecast Departures by Purpose of Visit: 2007-2012
Table 32 Forecast Outgoing Tourist Expenditure by Country: Value 2007-2012
TOURISM FLOWS DOMESTIC IN SINGAPORE
HEADLINES
TRENDS
DESTINATIONS
MODE OF TRANSPORT
PURPOSE OF VISIT
DOMESTIC TOURIST EXPENDITURE
PROSPECTS
SECTOR DATA
Table 33 Domestic Trips by Destination: 2002-2007
Table 34 Domestic Trips by Purpose of Visit and by Method of Transport: 2002-2007
Table 35 Domestic Tourist Expenditure: Value: 2002-2007
Table 36 Expenditure per Domestic Trip: 2002-2007
Table 37 Method of Payments for Domestic Tourism Spending: % Breakdown 2005-2007
Table 38 Forecast Domestic Trips by Purpose of Visit and by Method of Transport: 2007-2012
Table 39 Forecast Domestic Tourist Expenditure: Value: 2007-2012
TRAVEL ACCOMMODATION IN SINGAPORE
HEADLINES
TRENDS
HOTELS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 40 Travel Accommodation Sales by Sector: Value 2002-2007
Table 41 Travel Accommodation Outlets by Sector: Units 2002-2007
Table 42 Regional Hotel Parameters 2007
Table 43 Travel Accommodation by Sector: Number of Rooms 2002-2007
Table 44 Travel Accommodation by Sector: Number of Beds 2002-2007
Table 45 Travel Accommodation Internet Sales by Direct Suppliers and Intermediaries: Internet Transaction Value 2002-2007
Table 46 Hotel National Brand Owners by Market Share 2003-2007
Table 47 Hotels National Brand Owners by Key Performance Indicators 2007
Table 48 Forecast Travel Accommodation Sales by Sector: Value 2007-2012
Table 49 Forecast Travel Accommodation Outlets by Sector: Units 2007-2012
Table 50 Forecast Travel Accommodation Internet Sales by Direct Suppliers and Intermediaries: Internet Transaction Value 2007-2012
TRANSPORTATION IN SINGAPORE
HEADLINES
TRENDS
AIRLINES
PRIVATE JETS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 51 Transportation Sales by Sector: Value 2002-2007
Table 52 Airline Capacity: 2002-2007
Table 53 Airline Utilisation: 2002-2007
Table 54 Airline % Utilisation 2002-2007
Table 55 Airline Volume Sales by Seat Class: % Breakdown: 2002-2007
Table 56 Airline Volume Sales by Distance: % Breakdown: 2002-2007
Table 57 Transportation Internet Sales by Direct Suppliers and Intermediaries: Internet Transaction Value 2002-2007
Table 58 Airline Market Shares 2003-2007
Table 59 Airlines National Brand Owners by Key Performance Indicators 2007
Table 60 Forecast Transportation Sales by Sector: Value 2007-2012
Table 61 Forecast Transportation Internet Sales by Sector: Internet Transaction Value 2007-2012
CAR RENTAL IN SINGAPORE
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 62 Car Rental Sales by Sector and Location: Value 2002-2007
Table 63 Structure of Car Rental Market: 2002-2007
Table 64 Average Car Rental Duration by Sector 2004-2007
Table 65 Average Car Rental Duration: % Breakdown 2004-2007
Table 66 Time of Booking: % Breakdown 2005-2007
Table 67 Car Rental Internet Sales by Direct Suppliers and Intermediaries: Internet Transaction Value 2002-2007
Table 68 Car Rental Market Shares 2003-2007
Table 69 Car Rental National Brand Owners by Key Performance Indicators 2007
Table 70 Forecast Car Rental Sales by Sector: Value 2007-2012
Table 71 Forecast Car Rental Internet Sales by Sector: Internet Transaction Value 2007-2012
TRAVEL RETAIL IN SINGAPORE
HEADLINES
TRENDS
GROWTH SECTORS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 72 Travel Retail Outlets by Sector: Units 2002-2007
Table 73 Travel Retail Products Sales: Value 2002-2007
Table 74 Travel Retail Sales by Destination: % Value Breakdown 2002-2007
Table 75 Travel Retail Products Internet Sales by Direct Suppliers and Intermediaries: Internet Transaction Value 2002-2007
Table 76 Travel Retail Internet Sales by Sector: Internet Transaction Value 2002-2007
Table 77 Travel Retail Products Market Shares 2003-2007
Table 78 Travel Retail Products National Brand Owners by Key Performance Indicators 2007
Table 79 Forecast Travel Retail Outlets by Sector: Units 2007-2012
Table 80 Forecast Travel Retail Products Sales: Value 2007-2012
Table 81 Forecast Travel Retail Products Internet Sales by Direct Suppliers and Intermediaries: Internet Transaction Value 2007-2012
TOURIST ATTRACTIONS IN SINGAPORE
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 82 Tourist Attractions by Sector: Value 2002-2007
Table 83 Tourist Attractions by Sector: 2002-2007
Table 84 Tourist Attractions Internet Sales by Direct Suppliers and Intermediaries: Internet Transaction Value 2002-2007
Table 85 Leading Tourist Attractions by Visitors 2002-2007
Table 86 Forecast Tourist Attractions by Sector: Value 2007-2012
Table 87 Forecast Tourist Attractions by Sector: 2007-2012
Table 88 Forecast Tourist Attractions Internet Transaction Value Sales by Sector: Internet Transaction Value 2007-2012
HEALTH & WELLNESS TOURISM IN SINGAPORE
HEADLINES
TRENDS
PROSPECTS
SECTOR DATA
Table 89 Number of Hotel/Resort Spas: Units 2002-2007
Table 90 Spa Sales by Type: Value 2002-2007
Table 91 Spa Consumer Markets: Domestic Tourism 2005-2007
Table 92 Spa Consumer Markets: Arrivals 2005-2007
Table 93 Forecast Spa Sales by Type: Value 2007-2012