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Synopsis
The travel industry encompasses areas ranging from hospitality and tourism to other travel verticals like travel technology, with the former already contributing around 4% of Singapore’s GDP whilst supporting some 160,000 jobs in approximately 37,000 businesses. Simultaneously, the industry greatly enhances the liveability of the country by cementing Singapore’s status as a bustling regional hub, in turn attracting talent, businesses and investments. Even during crises such as the current COVID-19 situation, the industry remains full of untapped potential. With continued support from the government over the years – such as strategies to improve productivity through the use of robots in hotels as stated in the government’s 2016 Industry Transformation Maps – the industry is widely expected to rebound and continue to become one of the major growth factors of Singapore’s economy in the future.
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