Saturday, November 22, 2008

Tourism roles and economic value of the event

Festivals and events are part of the local fabric of life. Whether traditional or contemporary, festivals and events reflect popular culture. They depict the local color, local flavor, sights and sounds.

Being an international contemporary visual arts exhibition, it could play a part for tourism to attract people from other countries to Singapore to attend the event, extend their length of stay and increase average spend per visitor. This absolutely contributes a lot to the economy of Singapore as part of the tourist receipts.

It could be an image maker for Singapore, to project it as a cosmopolitan capital and centre of all things ‘hip, chic and trendy’, offering a vast range of lifestyle options for art and culture connoisseurs. With a destination theme and positive image, foreign visitors would certainly return back to Singapore for another visit.

It could also be seen as a catalyst for infrastructure, business and economic development. The infrastructure such as Old City Hall and South Beach Development which are no longer in use are being preserved. It helps to add on to preservation of historic sites which is a positive impact of tourism. And as people come in and out of Singapore for this event, social interaction would have occurred for sure. There could be chances for new business deal to flourish and thus added on to economic development.

Festivals and events with International appeal are worth billions to the local economy.

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