Singapore expects increase in tourism revenue

With two new casino resorts under its wing, Singapore is expecting an increase in the number of tourists into the small but progressive Southeast Asian nation.

The number of visitors last year dropped by 4.3 percent to just 9.7 million. The Tourism Board of Singapore is hoping for an increase of up to 12.5 million tourists this year.

The board also said Friday that from SG$12.4 billion worth of revenue from tourism last in 2009, this could climb to as much as SG$18.5 billion in 2010.

Las Vegas Sands and Genting Bhd of Malaysia will have new resorts this year in the city-state and Singapore is counting on them to boost tourism which will lead to economic growth.

Genting opened Resorts World Sentosa last month and announced on Friday that its Universal Studios theme park will open on March 18. The Marina Bay Sands, meanwhile, will open on April 27.

Due to the global crisis, Singapore’s growth domestic product fell by 2 percent in 2009. As a sign of recovery, the government wants to see an increase of up to 6.5 percent this year.

No Comments »

No comments yet.

RSS feed for comments on this post. TrackBack URL

Leave a comment

       Terms of Service | Privacy Policy | Advertise with Us | About Us | Contact Us | © Copyright ALLENEWS.com – Breaking News, News Online, Current News 2008. All rights reserved.