2012-09-06 08:37:11 -
Singapore Tourism Report Q1 2012 - a new market research report on companiesandmarkets.com
Another Strong Year Tourist arrivals to Singapore remained strong during 2011. Looking at data for January-October, a total of 10,925,045 tourists arrived in Singapore, an increase of 14.4% year-on-year (y-o-y), according to data from the Singapore Tourism Board (STB). Against this backdrop, we are happy to maintain our estimated of a 12% increase in tourist arrivals for the year as a whole, with perhaps some slight risks to the upside when November and December arrivals are added to the final total.
Looking at individual source markets, there was notably strong growth in arrivals from China (up by 39.4% y-o-y), Taiwan (up 25% y-o-y) and the Philippines (up 29.4% y-o-y) over the 10-month period From this data it is clear that
Singapore is benefiting from the establishment of the Resorts World Sentosa and Marina Bay Sands integrated resorts, which are doing much to attract tourists to the country. We believe Singapores tourism success should continue beyond 2011 as more people choose to visit the new resorts, particularly from other Asian countries. However, we would expect the rate of growth in tourist arrivals to moderate over 2013-2015. We forecast a total of 17.75mn same-day and overnight tourists visiting Singapore in 2015.
New International Cruise Terminal To Boost Tourism Flows In Q212, the International Cruise Terminal (ICT) is scheduled to open. In December 2011, the STB said it had appointed a joint venture between local company SATS and Spanish company Creuers del Port de Barcelona to operate the terminal for 10 years.
Once it is open, the new terminal will double Singapores berth capacity and enable larger cruise ships to stop at Singapore. In 2010, about 1mn cruise passengers visited Singapore, with this number expect to grow by about 30% over the next two years, according to the Singapore Cruise Centre (SCC). Royal Caribbean Cruises said it will make Singapore the homeport for its Voyager of the Seas ship, which arrives in Asia in May 2012. The region is considered as a market with significant potential over the coming decade, with the SCC estimating the potential market from India and China alone to be around 74mn passengers.
BMI believes Singapore is well placed to establish itself as a regional hub for cruise ships and we expect a steady increase in the number of cruise passengers arriving in the country over the forecast period through to 2015. Singapore has first-mover advantage as it has been able to complete its new cruise terminal ahead of a rival destination in Hong Kong, where the new cruise terminal is not expect to open until 2013.
Singapore Airlines Launches Low-Cost Carrier In November 2011, Singapore Airlines (SIA) unveiled its long-awaited low-cost airline called Scoot. SIA is hopeful Scoot can start flights on medium- and long-haul routes using an initial fleet of four Boeing 777 aircraft by mid-2012. The airline is working closely with the Civil Aviation Authority of Singapore (CAAS) to get its air operators certificate by the end of Q112.
Scoot is aimed at young people seeking low-cost travel around Asia. The airline said it will offer great value airfares up to 40% less than legacy carriers. As such, it is widely believed Scoot will offer a lowcost basic seat price but that passengers will be able to choose to pay for extras such as on-board meals or emergency aisle seating.
Scoot will be managed and run independently from SIA and it will operate from Changi Airport terminal 2. During its first year of operations, the airline hopes to fly to Australasia and China, with destinations across India, Europe and the Middle East to follow over the coming years. Online booking for Scoot flights will start in early 2012.
It remains to be seen how profitable this new venture will be for SIA, with rival Malaysian operator AirAsia having already established a dominant position in the low-cost segment across the region. In addition, SIA already has exposure to low-cost services via its Silk Air subsidiary and its majority shareholding in Tiger Airways. That said, it is clear that demand for low-cost travel is booming in Asia and SIA believes it can use its reputation and capabilities to it advantage in the low-cost segment. The price of this market report covers 4 quarterly reports on this sector. This quarterly report will be downloadable instantly as a PDF document, with the 3 remaining reports delivered at regular intervals throughout the year.
Click for report details:
www.companiesandmarkets.com/Market/Travel/Market-Research/Singap ..
Browse all Travel Market Research Reports
www.companiesandmarkets.com/Market/Travel/Market-Research?aCode= ..
Browse all Travel Company Profile Reports
www.companiesandmarkets.com/Market/Travel/Company-Profile?aCode= ..
Browse all Latest Market Research Reports
www.companiesandmarkets.com/Market/All/Market-Research?aCode=f3f ..
About Us
Companiesandmarkets.com is a leading online business information aggregator with over 300,000 market reports and company profiles available to our clients. Our extensive range of reports are sourced from the leading publishers of business information and provide clients with the widest range of information available. In terms of company profiles, Companiesandmarkets.comâs online database allows clients access to market and corporate information to over 100,000 different companies. We provide clients with a fully indexed database of information where clients can find specific market reports on their niche industry sectors of interest.
