Chitchat Singapore Tourism Will Huat Huat for Coming Decade - More Jobs?

sbr.com.sg
Singapore amongst five ASEAN cities to dominate travel, tourism sector over the next decade
HOTELS & TOURISM | Staff Reporter, Singapore

The industry is projected to be worth $1.1tr.

One in ten of all tourism investment dollars will go into ASEAN countries over the next ten years, and the greatest beneficiaries would be Singapore, Thailand, Vietnam, Indonesia, and Malaysia, according to new research by the World Travel & Tourism Council (WTTC).

According to the research, over the years 2016 – 2026, 9.7% (nearly 1 in 10 dollars) of global investment in travel & tourism (T&T) will be in ASEAN.

T&T investment in ASEAN over the next ten years will total US$782 billion (S$1.1 trillion), which is 7.4% of all investment in the region. This represents growth of 6.3% per year, nearly 2 percentage points faster than the global average.

Investment spending will be dominated (95%) by five major destinations - Singapore, Thailand, Vietnam, Indonesia, and Malaysia - which together account for over 80% of ASEAN’s international arrivals and tourism contribution to GDP.

However given the strong demand for travel to this region, some countries are still at risk of not investing enough to ensure infrastructure meets the needs of forecast tourism growth.

The reports noted that across the ASEAN region, there is wide variation in the total contribution of T&T to GDP. T&T makes a total GDP contribution of below 10% in Myanmar, Brunei and Indonesia, but over 20% in Thailand and almost 30% in Cambodia. Just less than 10% of Thailand’s total economy GDP is directly generated by T&T and over 13% in Cambodia.

But the report noted that even in higher-income Singapore with a sophisticated and diverse economy, T&T makes a substantively greater contribution to the economy than many other high-income economies in Europe or North America.

Across the ASEAN region in recent years, the report said that some countries have clearly prioritised both investment in general, and specifically investment in their T&T infrastructure. Thailand and Malaysia have sustained T&T investment spending of 1.5% of GDP on average from 2010-2015 and today have amongst the best-rated T&T infrastructure in the region.

Singapore, it said, is even better, investing a higher share of GDP in T&T and having the best rating T&T infrastructure in the region.

Some of Singapore's recent investment projects are Universal Studios Singapore, runway extensions and new runways at Seletar and Changi airports, aircraft purchases by Singapore Airlines and a number of new resort developments.

please let me give you a simple example.
in Thailand, investors can spend USD1 billion to build few blocks of hotel and created several thousands of jobs for local thai people.

In singapore, Investors can has to spend USD1 billion for just 1 block of hotel and created 200 jobs and out of these 200 jobs, 150 go to Pinoy and 20 go to angmoh hotel manager. Sinkie get the remaining 30 jobs

gingerlyn said:

please let me give you a simple example.
in Thailand, investors can spend USD1 billion to build few blocks of hotel and created several thousands of jobs for local thai people.

In singapore, Investors can has to spend USD1 billion for just 1 block of hotel and created 200 jobs and out of these 200 jobs, 150 go to Pinoy and 20 go to angmoh hotel manager. Sinkie get the remaining 30 jobs

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you are spot on........... I recall how the jobs in MBS went to peenoises, malusial, gringo etc

gingerlyn said:

please let me give you a simple example.
in Thailand, investors can spend USD1 billion to build few blocks of hotel and created several thousands of jobs for local thai people.

In singapore, Investors can has to spend USD1 billion for just 1 block of hotel and created 200 jobs and out of these 200 jobs, 150 go to Pinoy and 20 go to angmoh hotel manager. Sinkie get the remaining 30 jobs

Click to expand...

Let me give you a real example.

In Thailand, investors can spend $1 billion and easily $800 million is used for bribes and embezzlement before any money is spent on actual hotels and infrastructure.

In Singapore, investors spend $1 billion and all of that money goes into the actual project.

JohnTan said:

Let me give you a real example.

In Thailand, investors can spend $1 billion and easily $800 million is used for bribes and embezzlement before any money is spent on actual hotels and infrastructure.

In Singapore, investors spend $1 billion and all of that money goes into the actual project.

Click to expand...

Well the GLCs and other Khakis just sit there and collect rent and returns LOL. To get more returns meant its better to explore cheap 3rd world workers. The slaves below are feed only scraps.

Thnk god Sinkie Gahman has out price and over rated emself in Asia!