F1 Race in 2008 set to push Singaporean Tourism Industry

Released on = June 10, 2007, 10:25 pm

Press Release Author = Shushmul Maheshwari

Industry = Media

Press Release Summary = Next year is going to be quite significant for the tourism
industry in Singapore, as the city is all set to host the grand event - F1 race

Press Release Body = As per the key findings of RNCOS report “Opportunities in
Singapore Tourism Industry (2007-2009)\", “Innovative products & concepts often
catch the fancy of youths. Owing to this reason, the tourism industry considers
youths - population falling in the age group between 15 and 64 years - as its
potential customers. And, this youth population is expected constitute almost 77% of
the total population in Singapore by the year 2011. Therefore, targeting this
particular age group can be a great opportunity area for tourism industry.”

Happening events such as F1 race are something that can drive the youth crazy. With
Singapore all set to host F1 race in 2008, retail industries, nightspots, and hotels
are in celebration mood. The main reason behind this is that during the event,
there’s going to be parties galore – virtually by each participating
team & its sponsors. Also, the tourism industry will likely earn above US$ 100
Million from this event.

Hoteliers are expected to benefit from this because room rates should multiply
during the event as a direct result of tourists’ and spectators’ influx.
Govt. will also benefit from this, as it will impose an exclusive F1-cess on the
revenues earned by the hotels, not more than 30% during the event so that hosting
costs are defrayed.

\"I believe F1 is going to bring a lot of people here, the right people, the right
tourists...the world\'s paparazzi will be here, it will put us on the world map
alongside major sporting venues. It will not just make Singapore a destination for
nightlife, it will propel Singapore to be a world-class lifestyle destination\",
Dennis Foo, The St James’ CEO said this, as reported by CHANNEL NewsASIA on
May 12, 2007.

As per the RNCOS report on “Opportunities in Singapore Tourism Industry
(2007-2009)\", “Singaporean tourism industry has observed tremendous growth in
terms of inbound tourism, outbound tourism, and revenues generated through tourism
over the past few years. Tourism arrival is expected to grow at a CAGR of roughly 4%
during 2007-2011, departure will grow at approximately 6.20% during the same period,
also per head inbound tourist expenditure should reach 865.49 by 2011.”

Key issues analyzed in this report include: emerging trends in the tourism industry
in Singapore, future outlook of the tourism industry in Singapore in terms of
Inbound Tourism, Outbound tourism, expenditure by Inbound tourists, expenditure by
outbound tourists, and so on.

About RNCOS E-Services Pvt Ltd.:

RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of
industry experts who analyze data collected from credible sources. They provide
industry insights and analysis that helps corporations to take timely and accurate
business decision in today\'s globally competitive environment.

For more information visit: http://www.rncos.com/Report/IM504.htm
Current Industry News: http://www.rncos.com/blog

Web Site = http://www.rncos.com

Contact Details = RNCOS E-Services Pvt Ltd.
Shushmul Maheshwari
Head of Business Development
29, 1st Floor, Patparganj Industrial Area, Delhi 92

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