Singapore pumps in more than US$33 billion into its tourism, aviation sectors

Singapore has recently announced massive financial support for specific sectors that have been badly hit by the COVID-19 outbreak, including the aviation, tourism, land transport and arts and culture industries under its Resilience Budget. This was revealed by GB Srithar, Regional Director (India, Middle East and South Asia), Singapore Tourism Board, during the first-ever TravTalk Digital Conclave. Singapore’s Deputy Prime Minister Heng Swee Keat announced more than SG$ 48 billion (approx. US$ 33.7 billion) in different areas related to tourism. The aviation sector alone will get SG$ 350 million of additional support.

Sridhar was part of the second session that focussed on present circumstances and possible future for tourism. About SG$ 90 million has been set aside to help the tourism industry rebound. A separate SG$ 55 million support package has been allocated to sustain and revive the arts and culture sector. The fund will also include Point-to-Point Support Package for taxi and private hire car drivers, who will receive the Special Relief Fund payments of SG$ 300 per vehicle per month until the end of September 2020. The government will also offer one-year road tax rebate and six-month waiver of parking charges at government-managed parking facilities for private bus owners.