...Question 1: The performance of the Singapore Tourism industry in the last 5 years: Introduction Singapore is one of the most popular tourist destinations in Asia-Pacific region. Tourism industry in Singapore is growing very rapidly for the past several years. Tourism industry is strengthening by the infrastructure developments, various events and the countries strategic location in the heart of region. Body From 2009-2010 From 2011-2012 Tourism in Singapore is a major industry and contributor to the Singaporean economy, attracting 13,171,303 tourists in 2011, over twice Singapore's total population. Singapore attracted a record 11,638,663 visitors according to the Singapore Tourism Board's statistics, but which excludes Malaysian visitors who visited Singapore via the Causeway or the Second Link. This was a 20.2% increase over 2009, reversing two years of negative growth due to the global financial crisis of 2008–2009. Tourism receipts was estimated to reach S$18.8 billion in 2010, a growth of 49% compared to 2009 In 2013 Singapore remains an attractive destination in 2013, ending the year with record tourism receipts and in SINGAPORE: Singapore remains an attractive destination in 2013, ending the year with record tourism receipts (TR) and international visitor arrivals (IVA). The full-year TR came in at S$23.5 billion, a 2 per cent year-on-year increase, while IVA grew 7 per cent to 15.6 million, a Singapore Tourism Board report showed. IVA in the fourth quarter...
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... | |Final Report | |Tourism Marketing | |11/2/2012 | | | Executive Summary This report examines the marketing strategy of the tourism destination of Singapore. The group has set its sight on the segment of Seoul Young Adults, South Korea who are interested in Food and Culture. Through a thorough research on the marketing mix elements, it was found that although Singapore is a slightly more expansive destination as compared to its neighbouring competitors, it has much to offer. Being a developed country, Singapore has more packages on its attractions. Furthermore, collaborations with travel services companies help to increase these packages. Further research reveals that as a destination brand, Singapore constantly seeks to improve its offerings and reach to a wider market through technology like its YourSingapore website. Through this website, Singapore differentiates itself by promoting and highlighting...
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... 6. Presence of other recreational attractions 7. Qualified Personnel inputs In addition, other aspect of the potential destinations such as the reputation of the destination, the economic development situation, the potential tourism development opportunities, accessibility problem in VISA restrictions and the risk analysis of the destinations will be taken into consideration. Attracting elements in choosing Singapore: After conducting the site selection analysis, it is found that Singapore could be one of the potential destinations to be developed for a new casino. General speaking, the high revenue generated by tourism, the high proportion of people in the highest socio-economic categories, the presence of Singapore’s iconic attractions, the high concentration of hotels and so on making Singapore being a higher potential for the new casino development. a) Prosperous Singapore Economic situation: Singapore is a prosperous city with a high living standard proving that it has a sound economic system. It is said that world’s highest millionaire households are in Singapore. It is regarded as one of the best investment destinations across Asia for foreign firms. According to the Business Environment Risk Intelligence (BERI) report (2011)...
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...Master of Business Administration Assignment in Marketing Management Singapore Tourism Marketing Strategy Evaluation Dimitri Blättler Malcolm Ferguson Sascha Gartenbach Shama Rahman 8th August 2011 2/30 Document information Title: Topic: deadline: saved: Page count: Singapore Tourism Marketing Strategy Evaluation Marketing Management 8th of August 8. August 2011 30 excluding Layout Version Version V1.0 date 8.08.2011 changes Turn- it in Version responsible Authors (see front) © by the authors This report is confidential and intended only for members of the University of Strathclyde. The University of Strathclyde is entitled to use the information provided herein by the authors for the agreed purpose only. Use of this information for purposes not stipulated in the original order is strictly prohibited. Swiss centre of University of Strathclyde Zurich Tel. +41 44 305 95 11 · Fax +41 44 305 95 19 · www.awk.ch 3/30 Table of Contents 1. 2. Executive Summary ................................................................................................................. 6 Situational Analysis.................................................................................................................. 7 2.1. Market Summary .......................................................................................................... 7 Target Markets Evaluation.............................................................................. 7 2.1.1. 2.1...
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...Master of Business Administration Assignment in Marketing Management Singapore Tourism Marketing Strategy Evaluation Dimitri Blättler Malcolm Ferguson Sascha Gartenbach Shama Rahman 8th August 2011 2/30 Document information Title: Singapore Tourism Marketing Strategy Evaluation Topic: Marketing Management deadline: 8th of August saved: 8. August 2011 Page count: 30 excluding Layout Version Version date changes responsible V1.0 8.08.2011 Turn- it in Version Authors (see front) © by the authors This report is confidential and intended only for members of the University of Strathclyde. The University of Strathclyde is entitled to use the information provided herein by the authors for the agreed purpose only. Use of this information for purposes not stipulated in the original order is strictly prohibited. Swiss centre of University of Strathclyde Zurich Tel. +41 44 305 95 11 · Fax +41 44 305 95 19 · www.awk.ch 3/30 Table of Contents 1. Executive Summary ................................................................................................................. 6 2. Situational Analysis.................................................................................................................. 7 2.1. 2.2. SWOT......................................................................................................................... 13 2.2.1. Strengths................
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...Zhou, Dai, and Zhang (2007), affecting purchase decisions will also be discussed. In addition, traditional TA roles have evolved throughout the years to offer differentiated services in order to keep within the competition. The distribution of travel products has undergone changes and in order to remain competitive, TA must take a page out of OTAs, adapt to technology and online platforms in order not to be rendered obsolete. Keywords: Travel Agents, Technology, Internet, Online Intermediaries, Online agents Will The Advent of Online Intermediaries Diminish the Need for Travel Agents Totally in the Near Future? The travel and tourism industry is a million dollar trade. Many countries in the world have seen the value in promoting Travel and Tourism, pushing it to be one of the strongest sectors in the world. In 2013 the Travel and Tourism industry direct GDP (Gross Domestic Product) stands at $US2.1 trillion; representing almost...
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...BUS 317 Strategic Management Management Report for SMRT Corporation By: Subash S/O Tharumalingam Table of Contents 1. Executive Summary 4 2. Introduction 5 3. Current Company Situation 5 3.1. Past Performance Assessment 6 4. External Environment Analysis - PESTEL 6 4.1. Political 6 4.2. Economic 6 4.3. Socio-Cultural 7 4.4. Technology 7 4.5. Environment 8 4.6. Legal 8 5. Industry Analysis 9 5.1. Porter's Five Forces 9 5.2. Competitor Analysis 9 6. Internal Environment Analysis 10 6.1. Financial Performance 10 6.2. Value Chain 11 6.3. Key Success Factors 12 6.4. Core Competencies 14 6.5. SWOT Analysis 15 6.6. Objectives 16 6.7. Key Issues Identified 17 7. Development Strategies 17 7.1. Strategies base on SAVED 17 7.1.1. Strategy One: 17 Venture into tourism by providing two-way transport services to Johor Premium Outlets, Legoland and Hello Kitty Land from Singapore for families and schools 17 7.1.2. Strategy Two: 19 SMRT to provide transport services mainly for tourists to send them to their hotels from airport and partnership with budget hotels chains and hostels. 19 8. Selection of alternatives 21 8.1. Chosen Alternative 21 8.2. How is the chosen alternative superior to the rejected alternative? 21 8.3. Weakness of the chosen alternative and how to overcome 22 9. Implementation 22 10. Evaluation and Control 23 11. Conclusion 23 12. References 24 13. Appendix 27 13.1. Appendix 1: SMRT Operating Metrics 27 13.2. Appendix 2: Porter’s Five Forces 28 13.3...
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...WHY AUSTRALIA BENCHMARK REPORT 2016 WHY AUSTRALIA 25 YEARS OF CONSECUTIVE GROWTH. A SMART, SKILLED WORKFORCE. A CULTURE OF INNOVATION. INTEGRATED WITH ASIA, EUROPE AND NORTH AMERICA. READY FOR BUSINESS. GROWTH INNOVATION TALENT LOCATION BUSINESS Australia offers a powerful combination of solid economic credentials, a highly educated labour force, legal and political stability, and proximity to the fast-growing markets of Asia. With a resilient economy, a AAA sovereign risk profile and diverse, globally competitive industries, Australia remains well placed to build on an impressive record of prosperity. Australia has strong business and cultural ties with Asia, and longstanding trade, investment and research links in Europe and North America. Recently completed free trade agreements will make Australia even more competitive and further increase prospects for greater two-way investment. There are significant commercial opportunities in sectors where Australia has specific strengths and expertise, such as agribusiness, resources and energy, and financial services. Australia’s north in particular offers untapped possibilities. Australia’s world-class scientific and academic institutions, and commitment to research and development encourage innovation and the commercialisation of new technologies. There is no better partner for trade, investment and collaboration than Australia. 01 SECTION GROWTH // // Economic...
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...The Authority on World Travel & Tourism Travel & Tourism Economic Impact 2015 Malaysia For more information, please contact: Rochelle Turner Head of Research rochelle.turner@wttc.org ©2015 World Travel & Tourism Council Foreword The World Travel & Tourism Council (WTTC) is the global authority on the economic and social contribution of Travel & Tourism. WTTC promotes sustainable growth for the sector, working with governments and international institutions to create jobs, to drive exports and to generate prosperity. Travel & Tourism’s impact on the economic and social development of a country can be enormous; opening it up for business, trade and capital investment, creating jobs and entrepreneurialism for the workforce and protecting heritage and cultural values. To fully understand its impact, however, governments, policy makers and businesses around the world require accurate and reliable data on the impact of the sector. Data is needed to help assess policies that govern future industry development and to provide knowledge to help guide successful and sustainable Travel & Tourism investment decisions. For 25 years, WTTC has been quantifying the economic impact of Travel & Tourism. This year, the 2015 Annual Economic Reports cover 184 countries and 25 regions of the world, including, for the first time, the Pacific Alliance. Travel & Tourism generated US$7.6 trillion (10% of global GDP) and 277 million jobs (1 in 11 jobs) for the global...
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...HEALTH TOURISM IN ASIA 1. Introduction: Medical tourism can be broadly defined as provision of 'cost effective' private medical care in collaboration with the tourism industry for patients needing surgical and other forms of specialized treatment. Medical or Health tourism has become a common form of vacationing, and covers a broad spectrum of medical services. It mixes leisure, fun and relaxation together with wellness and healthcare. The global health care industry is valued at $ 2.8 tn. The market for health tourism is estimated to be $67 bn, growing at a rate 20% per annum. It can be divided into three broad segments: 1. Surgeries like orthopedic surgery, heart by-pass surgery, cancer therapy, eye surgery, organ transplantation. 2. Plastic surgery or cosmetic surgery. 3. Health spas, weight loss exercise centers, hot springs and holistic treatment including wellness therapies. Different countries have become preferred destination in each of these segments for medical tourist. India is a preferred destination for heart, orthopedic, eye and neurosurgeries. Eye surgery kidney dialysis and organ transplantation are among the most common treatments sought by medical tourist in Thailand and according to the Health Ministry, in 2004 the country attracted 600,000 medical tourists, who generated 20 billion baht in revenue. As a result, Asia’s medical tourism industry could generate over US$4.4 billion a year by 2012, with India, Thailand, Singapore, Malaysia...
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...of three years, from 1 July 2006 to 30 June 2009. 1.1 Reasons for Choosing the Topic Financial and business analysis is an important part of evaluating a business’ performance and its ability to survive. In particular, the financial analysis reveals how well the company is performing and the business analysis assesses its ability to maintain performance in the future. Such evaluation conveys valuable information to various stakeholders of the company for many purposes. For an employee, the company’s performance and prospect are important for making decisions on choice of employers. For an investor, it is the basic consideration before making investments. For suppliers and financial institutions, the company’s ability to meet interest payments and repay debts is important for making credit decisions. For the management, it is also an essential process in developing a business plan and monitoring its success. For an accounting student, this covers some of the most important concepts of the major which he or she needs to fully understand. Therefore, I chose to write my research report on topic 8, which is both informative and practically relevant. 1.2 Reasons for Choosing the Company First of all, I would like to briefly introduce FJB. FJB is a mid-size fashion retailer and distributor for international brands in Singapore, Malaysia, Indonesia, Thailand and Australia. The Group is headquartered in Singapore, represent over 20 brands and has four core...
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...economy (Direct Investor) with the objective of establishing a long term interest in an enterprise (the direct investment enterprise) resident in another economy (N. Samarappuli& G.C.R. Tharanga, (2009). While bringing foreign capital into the country, FDI supports economic growth by transferring knowledge, technology, managerial skills and best practices and creating employment opportunities (Dharma de Silva, 2011). When considering the Sri Lankan context, with the termination of three-decades lasing civil war, Sri Lanka is moving itself towards a faster economic growth reaching the upper-middle income status. With these objectives, the importance of attracting FDI has become a high priority of the Government’s strategies. The Sri Lankan Government has been adopting very liberal FDI policy in order to encourage and attract foreign investors into the country. As per the report on “Recent Economic Developments” published by the Central Bank of Sri Lanka (CBSL), net FDI has increased to USD 368 million during the first six months of 2012, compared to USD 364 million during the corresponding period in 2011. Major proportion of FDI has concentrated on sectors as infrastructure, utilities, manufacturing and tourism. This study focuses on analyzing the attractiveness of FDI towards the tourism industry of Sri Lanka. 2. Back Ground With the elimination of three decades lasting civil war, the Sri Lankan economy is experiencing a rapid growth.With this economic...
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...mandated subprime lending, imprudent mortgage lending, housing bubble, securitization and a few other more factors, which will be discussed. Causes The government mandated subprime lending has contributed to the financial crisis by promoting affordable housing under Community Reinvestment Act (CRA) as well as Fannie Mae and Freddie Mac. Through affordable housing, banks were encouraged to participate in imprudent mortgage lending as mandated by the federal in order to help low-income borrowers, which imprudent mortgage lending is another cause that contributed to the global financial crisis (Jickling, 2009). As a result of mortgage lending, low-income families are able to purchase houses that they are not be able to afford to purchase without the policy. The loans require low or no down payments and limited documentation of income are to be produced (Wallison and Pinto, 2009). Due to limited documentation presenting to get loan, asymmetric information existed as the financial institutions providing loans were lack of information about the borrowers. Housing prices are able to rise to unsustainable levels as a result of the easy money policies being implemented and an increase of people who wants to...
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...Pacific 3 Foreword While the 21st century has been termed the “Asian Century”, the term “Indian Century” is equally apt as the tremendous pace of economic development in India will drive the country to a leading place in the global economy along with other markets such as China. In terms of the travel industry, India represents the emerging giant of the Asia Pacific travel market, as the number of Indian travellers will grow exponentially over the next 20 years. But alongside growth in traveller numbers, the nature of the Indian traveller will also change as a series of geopolitical, economic, social and technological effects combine to change the way that Indian travellers behave, with consequent impacts on the travel industry. This report follows on from...
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...TROY UNIVERSITY INTERNSHIP PROGRAM TERM PAPER Submit day: June 1st ,2012 INTRODUCE ABOUT THE TOUSIST IN VIETNAM Vietnam has enough elements to develop tourism into a spearhead economic sector. With tourism potential and rich diversity, this country is a popular destination in the world. In 2008, Vietnam welcomed 4.218 million international passengers; this figure in 2009 was 3.8 million, down 11% over the previous year. Vietnam National Administration of Tourism predicts the number of international visitors to Vietnam in 2010 was 4.5 to 4.6 million; the number of domestic tourists was 28 million in 2010, up 12% to 2009. Revenue from tourism in 2009 reached Vietnam from 68,000 to 70,000 billion. According to the Vietnam National Administration of Tourism, 2015 Vietnam's tourism sector will attract 7-8 million international passengers, 32-35 million domestic tourists; the corresponding figure in 2020 was 11-12 million international 45-48 million domestic tourists. Revenue from tourism will reach 18-19 billion USD in 2020. However, Vietnam's tourism industry for many years, are also alarmed about the victims' tight guillotine, "bullying travelers, weak infrastructure and poor service quality, create a bad impression to tourists. Tourism potential of Vietnam: Monuments: As of May 8/2010, Vietnam has more than 40,000 relics, including places of over 3,000 monuments are ranked national monuments and ruins are over 5000 provincial rankings. and the number density most monuments...
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