Significance of the Hotel and Tourism Sector on Economic Development in Singapore
The hospitality sector plays a critical role in the tourism industry. The study examined the significance of the hotel and tourism sector on economic development in Singapore. The research study was literature review-based. The study findings indicated that the hotel and tourism sector is critical in enhancing the economic growth in Singapore. The study also found that the hotel and tourism sector is one of the fastest-growing sectors in the tourism sector. It is truly justified as accommodation is a critical part of the country's development. Tourism is also a potentially large employment opportunity and hotels constitute a significant part of this hospitality sector. The study further noted that the growth of hospitality largely depends on skills consisting of language and interaction abilities, courtesy, values, kindness, good practices, technique, conscientiousness, positive self-image, flexibility, imagination and punctuality. The study concluded that partnership could enhance financial growth. The increasingly crucial modern technology and progressively requiring customers call for even more compelling customer/employee interaction is vital. The study concluded that hotels industry earnings in Singapore are the main element that flaunts the tourist sector's earnings. The study recommended that the Singaporean government seriously tackle the tourist and hotel sector in the context of financial investment and advancement since the tourism field will integrate a vast range of economic tasks and is now regarded as one of the globe's most important markets. Hospitality and also tourism firms ought to also play even more focus on work-life balance and retention approaches. The study also recommended that to enhance a greater rate of interest among the Singapore hospitality students, several actions can be taken like the sector needs higher credibility, professionalism and trust. The Singapore Tourist Board ought to engage the hospitality and tourism associations, such as the Singapore Resort Association and Singapore Organization of Housekeepers, to take even more aggressive action in getting entailed with the hotels, polytechnics, and the public.
Keywords: Hotel, tourism, business, Economic Development, Singapore
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