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The Contribution of Tourism to the Singapore Economy

17 February 2011

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This paper measures the contribution of tourism to the Singapore economy by estimating the tourism value-added (TVA) between 2007 and 2010. TVA complements existing indicators, such as visitor arrivals, tourism receipts and hotel statistics, to reflect tourism’s performance.

We find that tourism’s economic contribution fell during the 2009 financial crisis, but more than recovered in 2010 along with the global economic recovery and the opening of new tourism offerings in Singapore. By the third quarter of 2010, tourism had generated $7.9 billion in nominal value-added, surpassing the TVA for the full year of 2009.

Tourism also generates significant employment opportunities. Between 2007 and 2010, tourist spending supported around 101,200 jobs on average each year.

The views expressed in this paper are solely those of the authors and do not necessarily reflect those of the Ministry of Trade and Industry or the Government of Singapore

Download for the full article [PDF, 207 KB].

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