2013-02-03 08:33:17 - New Consumer Goods market report from Business Monitor International: "Singapore Tourism Report Q1 2013"
The Singapore Tourism Report examines the strong long-term potential being offered by the local tourism industry, bolstered by rapidly growing demand from emerging markets such as China and Russia. However, we caution that the stellar growth rate in tourist arrivals achieved over 2010 and 2011 may moderate as we move into 2013 if fears of a double-dip global economic recession come to pass.
The report also analyses the growth and risk management strategies being employed by some of the leading players in the local tourism sector (ie: airlines and hotel chains) as they seek to maximise the tremendous growth opportunities being offered by the Singaporean market.
Full Report Details at
Arrivals over January-June 2012 increased by 11.4% year-on-year (y-o-y), to
7,082,161, according to data from the Singapore Tourist Board (STB). Growth was seen from all market regions expect Africa, with Indonesia remaining the most important inbound source market, contributing 1,366,037 tourists, or 19.3% of total arrivals, over the first half of the year. Arrivals from Indonesia went up by 11.5% y-o-y over January-June, with other key markets including China, Malaysia, Australia and India.
As such, 2012 looks set to be another strong year for Singapore's fast-growing tourism industry, in line with BMI's views. We forecast 14.29mn tourist arrivals and SGD23.5bn (US$18.35bn) in tourism receipts this year, which appear to be accurate projections based on current monthly trends. The STB has noted that it 'is in the midst of transiting to a new data processing system for tracking visitor statistics' and that the 'latest tourism data may not be immediately available'. Therefore, there was no more recent data than June 2012 available from the STB website as this report was being compiled in late November. Consequently, BMI maintains its forecasts this quarter in the absence of any clear indication from the STB of how tourist arrivals have progressed over the early part of H212.
Over the last quarter, BMI has revised the following forecasts and views:
* BMI has extended its forecast period out to 2017. Our forecast model projects increases of 7-8% per annum in tourist arrivals over the coming years, leading to a total of just over 20mn sameday and overnight tourists visiting Singapore by 2017.
* BMI believes that the recently-announced enhanced links between Singapore Airlines (SIA) and Virgin Australia could prove very beneficial for both airlines. In October 2012, SIA announced that it would be buying a 10% stake in the Australian low-cost airline, with the two airlines then announcing an expansion of existing codesharing arrangements. Further information on the outlook for Singapore Airlines (including SWOT analysis) can be found in the Company Profiles section of this report.
Partial Table of Contents:
- Singapore Tourism SWOT
- Singapore Political SWOT
- Singapore Economic SWOT
- Singapore Business Environment SWOT
Industry Forecast Scenario
- Table: Arrivals, 2010-2017
- Table: Hotels Data, 2010-2017
- Table: Tourist Expenditure And Economic Impact, 2010-2017
- Inbound Tourism
- Table: Inbound Tourism By Region, 2010-2017
- Table: Inbound Tourism By Country, 2010-2017 ('000)
- Outbound Tourism
- Table: Outbound Tourism By Region, 2010-2017
- Table: Outbound Tourism By Country, 2010-2017 ('000)
Market Overview - Travel
- Commercial Airlines
- Table: Key Low-Cost Airlines In Singapore
- Global Oil Products Price Outlook
- Table: BMI's Oil Price Forecasts And Bloomberg Consensus, Average Price (US$/bbl)
Market Overview - Hospitality
- Accommodation Developments
- Integrated Resorts
- H5N1 Virus Update
- Table: Asia Pacific Tourism Risk/Reward Ratings
- BMI Security Ratings
- Table: Asia Pacific Regional Security Ratings
- Table: Asia Pacific State Vulnerability To Terrorism Index
- South East Asia Security Overview
- Strategic Outlook For The 2010s
- South East Asia In A Global Context
- Challenges And Threats To Stability And Security
- Main Islamist Militant Groups In South East Asia
- Other Regional Threats
- China-US Rivalry In South East Asia
- Outlook For South East Asia
- Table: Global Assumptions, 2011-2017
- Table: Global & Regional Real GDP Growth, % chg y-o-y
- Table: Developed Market Exchange Rates, 2011-2014
- Table: Emerging Market Exchange Rates, 2011-2014
- Developed States
- Table: Developed States Real GDP Growth Forecasts, 2011-2014 (%)
- Emerging Markets
- Table: Emerging Markets Real GDP Growth Forecasts, 2011-2014 (%)
- Table: BMI v Bloomberg Consensus Real GDP Growth Forecast, 2012-2013 (%)
- Singapore Airlines
- Tiger Airways
- Table: Singapore's Population By Age Group, 1990-2020 ('000)
- Table: Singapore's Population By Age Group, 1990-2020 (% of total)
Full Table of Contents is available at:
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