Singapore wants to boost its tourism strategy by focusing on increasing tourist expenditure. Singapore's tourism industry is a major employer and contributor to the local economy, bringing in more than 19.1 million international visitors in 2019, more than three times the country's entire population. It is also eco-friendly, with nature and heritage preservation measures in place.
Tourism is one among the fastest-growing industries within the twenty-first century. Supply, demand, competitiveness, and globalisation are all concerns that the tourism, hospitality, and leisure industries must deal with. Our clients rely on us for strategic analysis, in-depth research, and insightful independent advise to stay competitive and maximise possibilities in local, regional, and international markets.
Tourist attractions, activities, and events are a part of both disciplines and industries, but the primary distinction is that hospitality is concerned with great housing, transport, and other facilities like restaurants and sports centres.
COVID-19 Government Policies
With a focus on building confidence and providing support, a variety of government initiatives have been launched to help the travel sector. The government is subsidising the costs of expert environmental cleaning and disinfection for hotels that have hosted suspected/confirmed cases in order to promote confidence. Singapore developed a Clean Certification programme to provide residents and tourists peace of mind that tourism attractions and amenities follow strict preventative measures.
Singapore has eliminated licencing costs for STB-licensed hotels, travel agents, and tourist guides for 2020, as well as cut industry participation fees for STB-led tradeshows by half; enhanced the training scheme, and funding up to 90% of coaching course fees and trainer fees; provided salary support through Workforce Singapore of up to 70% of fixed monthly salaries, capped at $2,000 per month per employee for the training duration for up to six months; provided licensed self-employed tourist guides with wage support of $1,000 to assist with some of their basic living expenses, provided they are Singaporean citizens or permanent residents; implemented rebates on aircraft landing and parking charges as well as rental rebates for shops and cargo agents at Changi; and more. The Government is prepared to think about further measures if and when necessary.
During these trying times, significant and rapid action is required to strengthen the travel and tourism industry. WTTC urges governments to enact policies that will directly benefit the sector in the three areas listed below:
The Livelihoods of Employees Must Be Secured:
Financial assistance must be provided to protect the incomes of millions of workers who are in dire straits.
As a stimulus, the government should provide essential, unrestricted interest-free loans to global Travel & Tourism enterprises as well as millions of small and medium-sized businesses to keep them from collapsing. Dues and financial demands imposed by the government on the travel and tourism industry must be dropped immediately for at least the next 12 months.
Adding Liquidity and Cash:
It is vital to provide cash flow assistance to both large and small companies in the Travel & Tourism sector, as well as to provide targeted help to severely afflicted industries within the sector.
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