Gateway to Asia’s Tourism Growth
Singapore as a regional hub
Half of the 10 largest global hotel groups have their regional headquarters in Singapore, including InterContinental Hotels Group, Hilton Worldwide and Carlson Rezidor. Singapore’s attractive business environment and investment in entrepreneurship have also helped it maintain a steady ecosystem of travel technology companies keen to expand into Asia such as TripAdvisor, Rakuten Travel and Skyscanner.
Travel Business Events: Opportunities for growth
Asia’s intensely competitive travel industry are seeking opportunities to showcase as well as access innovative tourism concepts and business opportunities. Events that cater to sectors such as attractions, cruise and gaming as well as broad areas of tourism investment, experience development, travel marketing and capability-building are particularly relevant as the industry looks to scale up and prepare for the future.
Did you know?
- Travel demand into the Asian region is expected to register growth of 4.6 per cent per annum from 2016 to 2020 from 538 million to 657 million. Asia is also poised to grow its share of global foreign arrivals to more than 73 per cent by 20201.
- With travel gross bookings of US$137 billion (S$186.1 billion), Asia will be the largest digital travel market in the world by 20182.
- The Asia Pacific region is expected to attract US$8.5 billion (S$11.9 billion) in hotel investments in 2016 (a slight 5 to 10 percent decline on the previous year)3.