Not many companies, countries or cities can say that their economic outlook during these problematic financial times is one of extreme confidence. That, however, is exactly just how the outlook was stated by Aw Kah Peng, the executive chief of the Singaporean Tourism Board. This past February at a convention designed for protecting the tourist sector of the local economy, the Board, in tandem with the government of the city-state have proposed a massive stimulus package of incentives that exceed ninety million dollars, providing deductions, tax relief and financial assistance for the most successful, stable and promising businesses operating in the local tourism and service sectors respectively.

This plan was developed to avoid the loss of jobs, investing in the future and ensuring that those in the Singapore luxury hotels, travel agencies, resorts and other tourist attractions will remain to enjoy not only job security, but sustained growth as well. A comprehensive and pro-active approach was required as globally individuals are tightening their belts and forgoing luxuries such as travel, both for business purposes or for vacationing. Singapore’s reputation as one of the premier destinations for travel has been well cultivated and maintained over the years. Entertainment in the form of festivals and celebrations have brought millions to the city from vacationers and business visitors, and the strong economic sectors of technology, medical research and business practices of the city have attracted many international conventions.

Due to the economic downturn, world-wide travel habits have been adjusted for most of the global population over the last few years, with many people choosing to travel reduced distances for shorter periods at a time. Most people are still needing or wanting to ‘get out of town’ and are still doing so, they merely lack the means to do so on a large scale in the current financial climate. Part of the Tourist Board’s stimulus package is a distinct alteration of the marketing of the local tourism industry, providing incentives for special rates that would make Singapore an attractive option for global travelers again. Corporations from various avenues are joining forces to come up with comprehensive marketing media, as the continued influx of global travelers and tourists benefits all those involved.

The continued goal for 2009 and beyond is to maintain the growth and the strength of viable and long standing businesses and the continued growth and strength of the state of Singapore as a whole.