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Created with Fabric.js 1.4.5 SINGAPORE Travel and Tourism in to 2017 # OF ESTABLISHMENTS TOURIST PROJECTS CHANGI INT AIRPORT The travel and tourism sector was adversely affected by the financial crisis, which caused a decline in tourism activity and expenditure in 2009 The nations capital investment in tourism increased from US$10.9 billion in 2009 to US$13.3 billion in 2012 The nations travel and tourism sector accounts for 11.3% of GDP and 9.1% of its total employment Singapore has maintained it's rank at 10th position in terms of the quality of its travel and tourism servicesIn terms of business environment and infrastructure, the country is ranked 4th ROOM OCCUPANCY RATES increased to 86.7% in 2012 Increased to 316 in 2012390 expected in 2017 Rising Tourist Flows and an Increase in Air Capacity will Support Tourism Sector Growth New terminal to be completed in 2017 to support increaseddemand for air travel Park Hotel Farrer ParkLittle India Singapore has one of the pre-eminent business environments in Asia due to its government policies, tax structureand skilled workforce. Business travel is a key source of tourism receipts in Singapore and accounted 23.6% of inbound tourism in 2012. Singapore liberalized its aviation policy through an open-skies agreement, which led to a rise in the volume of low-cost carriers providing routes to the country. This is expected to increase inbound tourism from 14.4 million tourists in 2012 to 20.9 million in 2017. Increasing internet penetration rates coupled with a rising propensity for travel are driving the growth of online travel bookings. The share of online bookings made through travel intermediaries increased from 7.9% in 2008 to 13.3% in 2012. The adoption of applications in areas such as customer service, advertising, promotion and service management will drive growth in the sector.
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