Singapore to provide tourism industry $223M subsidy

By Hoang Phong   March 5, 2024 | 03:29 pm PT
Singapore to provide tourism industry $223M subsidy
Tourists pose for photos at the Merlion Park in Singapore, Jan. 28, 2020. Photo by Reuters
Singapore is set to provide a S$300 million (US$223 million) grant to its tourism industry to boost its competitiveness.

The grant would help develop and market new products and experiences and enable businesses to develop new intellectual properties, Minister of State for Trade and Industry Alvin Tan said in Parliament on March 1.

It would also be used to train tourism workers, improve tourism services and help tourism companies become more productive, he said.

Singapore received 13.6 million foreign visitors last year and eyes 16 million this year for tourism revenues of S$26- 27.5 billion.

Singapore is now in the regional limelight as American pop star Taylor Swift is performing her six sold-out nights in the city state as part of her global The Eras Tour.

Thousands of people have been flocking to Singapore from across the world this week despite high airfares and hotel tariffs.

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