More and more hoteliers are investing in Singapore, foreseeing that Singapore tourism will continue to grow year on year.
Its continuous transformation into a world class city amazes the world till today; though with its tiny land size of 721.5 sq m, it is smaller even than some cities in the world, yet its stellar economic achievement over the last 5 decades is nothing short of stunning.
Many came and fall in love and became citizens; its population grew from 1.8 million in 1963 to 5.8 million people today.
And the white house paper expects the population to further increase to close to 7 million people by 2030.
Amidst the tourist crowd, some came to source job opportunities, investment opportunities, relocation of headquarters, new business propositions and/ or acquisition, children’s education, family offices set up; all these fuel demand for hotels besides just a pure holiday visit.
Not forgetting Singapore has amazing variety of food; her people speak both English and Mandarin fluently to the delight of many tourists.
Tourists came to marvel the beauty of the country; the greens, the cleanliness, the non-stop shopping paradise, the adrenaline of perfection in achievement of the Changi airport and Jewel, the world class Singapore Zoo, F1 formula, conventions; the list never ends.
Recent turmoil from Hong Kong, trade war, Brexit had caused many tycoons to park their money in Singapore and real estate in Singapore is expected to continue to soar.
James Dyson entry to Singapore is a testament of Singapore’s attraction to the world. And more will follow in the months to come.
More good news is hotel room revenue went up by 7.4 per cent to $4 billion in 2018 and this will further translate to appreciation growth for hotels sites.
For this year 2019, STB forecasts tourism receipts to grow by 1 to 3 per cent and visitor arrivals to be 18.7 million to 19.2 million, an increase of 2 to 3 per cent.
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