Singapore adds S$300 million to kitty to boost tourism sector

SINGAPORE is adding more than S$300 million to a government fund for tourism development, to facilitate the country’s post-pandemic tourism recovery, said Minister of State for Trade and Industry Alvin Tan at his ministry’s Committee of Supply debate on Friday (Mar 1).

This will go towards developing and marketing new tourism products and experiences, which includes supporting local enterprises to develop new intellectual properties, as well as rejuvenating existing tourism offerings.

The funds will also be used to upskill tourism workers, and help local tourism companies get more productive and innovative, he added.

Tan noted that the Tourism Development Fund 4 has helped Singapore bring in attractions and events, such as Disney Cruise Line’s latest ship being home-ported exclusively in Singapore from 2025. Over the past two years, the fund has also helped more than 100 local tourism businesses become more productive and sustainable.

Investing in the tourism sector is one of two ways that the government is facilitating its recovery. The second way is working with the sector to develop a pipeline of high-quality, first-of-its-kind experiences, he added.

“This will help us to maintain international mindshare, and strengthen our appeal as a compelling destination.”

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These include a new Sensoryscape path in Sentosa, additions to Resorts World Sentosa such as the Singapore Oceanarium, and “a strong line-up of leisure and business events”.

This year, Singapore will host the Global Sustainable Tourism Council Global Conference for the first time, as well as a new regional trade show, National Retail Federation 2024: Retail’s Big Show Asia-Pacific.