SG$700 million injected into the Singapore tourism industry

The local tourism industry will get a boost of SG$700 million over the next five years through The Tourism Development Fund. According to Minister for Trade and Industry (Industry) S Iswaran this is to ensure the local tourism landscape remains attractive as regional competition heats up.

Minister Iswaran was quoted by the BT saying that two types of responses are needed against the evolving tourism landscape. The first would be to benefit from long-term growth opportunities and the second would be tactical measures to deal with “volatility and challenges."

To ensure both areas are receiving support, the money in the fund will be divided into three areas. One will be the development of products to help Singapore remain as a go to destination; the second would be leveraging on technology to increase productivity and last is improving manpower skills.

As for making Singapore an ideal destination, yesterday STB announced its three-pronged strategy. Meanwhile, according to CNA, STB will now also be focusing more on its secondary cities such as Indonesia, China and India. According to an BT article, it will also look at marketing to emerging nations such as Myanmar and long-distance markets such as US and Europe.

On leveraging technology, Minister Iswaran said more support will be given to adopting new technologies and data analytics to understand and engage visitors. According to an ST article, a one-stop mobile app which customises visitor experiences is also in the works. This app will host curated information such as events and promotions.

Meanwhile STB’s chief executive Lionel Yeo said there is also a need for more locals to enter the tourism industry and STB is working with the Singapore Hotels Association to develop a career strategy for locals. Also a S$5000 SkillsFuture Study Award is also available to tourism professionals looking to upgrade.

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