3. TOURISM ROLES AND ECONOMIC VALUES OF SB08

I have once thought of how Singapore tourism economy would be like without any events. Most probably we would be like North Korea, a country which is still trying hard to progress. For many, they may see events like Singapore Biennale as a local outreach program in the field of arts.

Truthfully, till today, the society we live in still have a mindset that arts is a total waste of time and money. Only a minority of Singaporeans would relate SB08 as a kind of tourism activity that is used by the nation to bring in more tourism receipts.

With a kind of market-based event instead of revenue oriented, SB08 was not mindful of how much profit the event can earn for the organiser. Instead, it is an act by the government to bring Singapore out of her red-dot, showcasing to the world how fun our city is!

The primary role of SB08 was to promote and place Singapore prominently in the visual arts field. What would be the secondary objective then?

With S$13.8 Billion earned through tourism receipts in 2007, it is impossible for Singapore to reach its target of S$30 Billion by 2015 if there were no events planned to attract tourists.

As stated in the book written by Johnny Allen, one of the most important impacts to the local economy is the revenue generated by the event. Apart from spending at the event, visitors are likely to spend money on travel, accommodation, goods and services in Singapore.

Furthermore, if promotions are effectively done, tourists may extend their stay in Singapore, thus spending even more amount in our city. In a long-run, what we gain is the tourism image as well as visitation.

As Singapore Biennale 2008 took place during the inaugural Singapore Grand Prix season, it was expected that SB08 would boost even higher tourism receipts. It was the image of Singapore that the government was targeting at when planning such events. SB08 was a way to showcase our expertise in the area of arts.

Viewers could choose to buy off the art pieces from Biennale and this revenue contributes to the tourism receipts as well! This is an example of business opportunities provided by SB08.

With this event planned, some Singaporeans may take into consideration the setting up of small businesses, like selling souvenirs to the tourists or probably transportation companies may offer transport services to and fro attractions and exhibit venues. These again, are new business opportunities.

I am sure that with more events of similar scale as Singapore Biennale, Singapore economy would gain and probably able to reach our goal of S$30 Billion by 2015!