New $5 mil fund for tourism industry
A new 5 million dollar Kickstart Fund will be available to the tourism industry to help with innovation and the test-bedding of ideas.
Second Minister for Trade and Industry S Iswaran said it will support lifestyle concepts with strong tourism potential and scalability, such as pop-up entertainment, dining, retail or arts events.
He said the scheme will also provide entrepreneurs access to business advice from experienced mentors from the industry.
The Singapore Tourism Board will announce the details and call for applications soon.
The board forecasts 2013 tourism receipts to be in the range of about $23.5 bil to $24.5 bil.
Visitor arrivals are expected to be between 14.8 mil to 15.5 mil.
Mr Iswaran said looking ahead, arrivals cannot continue to grow indefinitely and sustainably at the rates we have seen in recent years.
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