STB injects $15m to build tourism-facing industry and precinct associations
The Singapore Tourism Board, STB, is setting aside $15 million in an Association Development Fund, or ADF, to develop tourism-related industry and precinct associations.
Making the announcement, Second Minister for Trade and Industry S Iswaran says they're crucial partners in developing the tourism sector.
This as Singapore faces more regional competition.
"With more support, industry and precinct associations can rally their members to capture higher value business opportunities, drive capability development initiatives, and create authentic visitor experiences in their precincts."
Mr Iswaran adds that regional neighbours like China, Japan and Korea have a slew of tourism developments lined up over the next few years.
ASEAN countries are also raising their game in both the leisure and business sectors.
The Orchard Road Business Association and Chinatown Business Association are among those who would benefit from the new Association Development Fund.
They could tap on the ADF to support them in organising annual festivities in their precincts.
The fund will be dispersed over the next two years.
Associations can apply for the fund through STB.
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