Importance Of Tourism Industry In Singapore

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According to Singapore Tourism Board (STB), tourism sector currently contributes 4% of Singapore’s GDP and provides approximately 160,000 jobs (nearly 4.5% of labor force is working in tourism sector ), Singapore’s International Visitor Arrivals (IVA) in 2013 reached 15.6 million, Tourism Receipts (TR) came in at S$23.5 billion and Hotel Room Revenue for 2013 was S$2.9 billion (Singapore Economic Development Board, 2014). Tourism industry plays a key part in supporting Singapore’s status as a dynamic global city that attracts business, capital and talent. Moreover, tourism creates a more diverse leisure environment for the residents, thus improving their quality of life. As a dynamic economy, Singapore has always been adapting to continuously …show more content…

Its main attractions include a 15,000 sqm casino, which has more than 500 tables offering a range of games, the region’s first-and-only Universal Studios theme park and the Marine Life Park, which comprises the S.E.A. Aquarium (one of the world’s largest aquariums) and Adventure Cove Waterpark ( Resort World Sentosa, 2014). The resort has six hotels with six unique themes and 1,800 available rooms: Crockfords Tower – luxurious all-suite hotel; Hotel Michael – an 11-storey luxurious hotel with gallery-like atmosphere; Festive Hotel is a family-oriented hotel, situated near the Universal Studios Singapore and the Marina Life Park; Hard Rock Hotel Singapore – five-star hotel for families designed in rock-and-roll style, also offers meeting and conference facilities; Equarius Hotel – a perfect getaway for nature lovers and families, located nearby to largest oceanarium, Marine Life Park; TreeTop Lofts and Beach Villas – unique customized luxurious …show more content…

According to RWS 2013 Annual Report, resort’s attractions registered strong visitation during 2013, receiving a total of more than 6.7 million visitors. Resort’s Universal Park faced the challenge of remaining relevant to the local small population of Singapore, therefore the resort’s management developed frequent visit programs and unique events to continue generate high interest with regional visitors. Resort’s six hotels achieved 92% occupancy rate at an average room rate of S$407. RWS is planning to open their 7th hotel by mid of 2015, Genting Hotel, which broke ground in July 2013. SPA ESPA at RWS became Singapore’s first destination spa to offer spa services in 2013. The inaugural RWS Food Affair took place in September 2013 and lasted for nine days, it brought together six of RWS’ celebrity chefs - from the world’s most Michelin-starred chef Joël Robuchon to the first female Iron Chef Cat Cora. RWS hosted over 3,000 events and 620,000 delegates during 2013; major conferences hosted include the BioPharma Asia Convention 2013 and the 17th East Asian Actuarial Conference (Genting Singapore,

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