In 2008 the Singapore Tourism Board is targetting Sin$15.5 billion in tourism receipts (TR) and is aiming to attract 10.8 million visitor arrivals (VA).

STB's Chairman of the Board, Mr Simon Israel, said, “Singapore’s tourism sector has improved vastly from a few years ago. Since 2004, we have grown visitor arrivals by 25% to 10.3 million and tourism receipts by 45% to $13.8 billion. Our Average Room Rates have increased by 66% since 2004, redefining the economics of the industry.”

Mr Israel said looking ahead, 2008 was already starting on a strong note with the opening of Changi Airport Terminal 3, several inaugural major international events such as the Singapore Airshow, Singapore International Water Week and ITB Asia, the opening of the Singapore Flyer and the upcoming 2008 Formula 1 SingTel Singapore Grand Prix
 

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