March 20th, 2009 Strength and Growth During These Economic Times
Not many companies, much less large cities, can say that their position during these economic times is one of strength. But that is just how is was stated by the executive chief of the Singapore Tourism Board, Aw Kah Peng, this past February at a convention aimed at protecting the tourist driving sector of the economy. The Board along with the government of the island have proposed a stimulus plan of initiatives that top 90 Million dollars, offering deductions and financial help in the most successful, stable and promising businesses in the tourism and service sector. This plan was developed before the loss of jobs, attacking the future and insuring that those in the Singapore luxury hotels, travel agencies, resorts and tourist attractions will remain to enjoy not only job security, but growth as well. An aggressive and pro-active approach as the people in the world right now, are spending less money on things such as travel, for business or for holiday. Singapore’s reputation as one of the premier destination sites for travel has been extremely well established over the years. Entertainment in the form of festivals and celebrations have brought millions to the city for vacations, and the strong sectors in technology, medical research and business practices of the city, have attracted many international conventions.
Travel habits have changed for most of the world’s population over the last few years, with many traveling shorter distances for shorter amounts of time. Still needing or wanting to ‘get out of town’ and still doing so, just in a manner more cost efficient. Part of the incentive plan is a change in the marketing of tourism, providing means and enhancement and special rates that would make Singapore an attractive option for this. Businesses from different sectors are combining forces to come up with commercial marketing campaigns, as the continued influx of travelers benefits all those involved. The goal for 2009 is to continue the growth and the strength of viable and long standing businesses and the continued growth and strength of the island of Singapore on the whole.
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