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Singapore
Market Overview
The global economic downturn severely impacted Singapore’s export-based economy and this has seen a reduction in outbound travel. However, as key export markets begin to recover, optimism is returning in Singapore and bookings are beginning to improve. Demand for the coming summer is strong, with airlines near capacity on this route.
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New Zealand is a popular holiday choice for Singaporeans seeking an escape from life in the concrete jungle. Travellers from this market enjoy New Zealand’s open space, scenery and fresh air.
Many Singaporeans have the financial means to enjoy premium travel, making them a valuable high-yield market for New Zealand over the long term. Visitors from Singapore contributed just under NZD64 million to the New Zealand economy in the year ended September 2009.
Despite a trend towards cheaper and short-haul travel during the 2009 recession, Singaporeans are still keen travellers and New Zealand remains a popular choice. Singaporeans are reported to be travelling for longer (10-12 days compared with 8 days previously) and spending more.
Consumers are increasingly choosing self-drive holidays. There is also an increased interest from baby boomers, who are more insulated from the economic downturn and have more time to travel.
Travel agents are still the primary mode of booking for travel packages. However, there is a growing trend towards direct booking online, especially for air travel and research the cost of accommodation and activities.
In November Singapore Airlines and Tourism New Zealand signed a marketing agreement to jointly develop and promote tourism to New Zealand on Singapore Airlines’ services. The three-year deal will come into effect on 1 January 2010. Each party has agreed to commit NZD$ 2million over three years to fund joint activities and promotional work in six key Asian and European markets.
Fast Facts:
Visitors Arrivals year to date
(Total Arrivals) |
29,098 (YE Sep 2009) +7.8% |
Median length of stay
(Holiday Arrivals) |
10 days (YE Jun 2009) |
Average Expenditure per visit
(Holiday Arrivals) |
NZ$3,012 (YE Sep 2009) +19.9% |
Total Expenditure
(Total Arrivals) |
NZ$63,694,565 (YE Sep 2009) -1.4% |
| Forecast growth in travel to New Zealand 2009-2015 average |
1.4% per annum (Asia outside of China, Japan and South Korea) |
| Population |
4,657,542 (by Jul 2009 est.) |
| Key Regions/cities |
Singapore |
| Direct Routes to New Zealand |
Singapore - Auckland
Singapore - Christchurch |
| Leave Entitlement |
14-25 days |
| Currency |
Singapore Dollar (SGD) |
| Exchange rate |
SG$ 1 = NZ$ 0.97 (17 Nov 09) |
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GDP Growth |
-4.5% in 2009
3.8% in 2010
(Nov 2009 est.) |
| Per capita GDP (PPP) |
US$40,320 (2008) |
This information was last updated on 17 November 2009.
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