Tourism – A leading economic sector enhancing GDP
A multi-ethnic city , state in Maritime Southeast Asia , an Archipelago ; Singapore famous as a global financial centre, Tourist destination.
Tourism a leading economic sector contributing 9.5%of Global GDP.The contribution of travel and tourism to gross Domestic product is expected to reach 10.8% at the end of 2026.
The above data exemplifies the potential of Tourism in Socio-Economic growth and inclusive development of a nation.
The focus shifts to Singapore.Let’s take a tour to overview the Tourist attraction of Singapore which in turn enhances its GDP and Contributes in the Economy of the Country. This Contribution was 10 % in 2019 which recorded a fall during Pandemic.International tourism accounted for 4.1% of Singapore’s National GDP in 2017 with a direct contribution of $17.7 billion. Its percentage to Singapore GDP is projectedto rise to 4.4% in 2028.A brilliant figure of around 18.5 million intended visitors came to explore Singapore in 2018 which isadmirable. Obvious with the data that something is present here to allure its visitors dramatically.
Singapore ranks 5th in Master card’s global destination cities Index, behind Bangkok, London, Paris & Dubai. Its Cruise sector is contributing immensely in spiking the percentage of tourists by offerings such as Genting dreams & Royal Caribbean Cruises Voyages of the sea.
It is one of the major hub as market-Oriented open economy in the World. A country welcoming all with open arms to materialize with ease. One should reimagine a Visit to Singapore after this tiresome and monotonous life and let time come to a stand still combined with the feeling of ecstasy. The major attraction herein that captivates Millennium are:
Rich Arts & culture: Asian Civilization Museum (Live to Asian culture),Buddha Tooth Relic temple & Museum (Religious Attraction, Chinese Calligraphy Society of Singapore.
Esplanade performing Arts Centre areTheatres on the Bay.
National Museum of Singapore captivates all with its living gallaries relatedto Fashion , Films, Wayang (Shadow puppet theatres)
Sanctuaries, gardens , Nature Reserves aspires a sense of Serenity to the restless hearts.
Roots.SG : foremost digital concierge discover the World of diverse Culture & History inscribes its discovery way back to 2016 for the people who wants to delve into this mesmerizing beauty.
The boost in GDP through tourist attraction facilitates its transformation into a High-tech Economy. Singapore is rejuvenating and reinventing itself with the passionate people out there. A new world of endless possibilities and unfelt desires awaits to be unveiled.