International Monetary Fund World Bank Group
The IMF is an organization of 184 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty.
During this period of time, estimated 16000 delegates from all over the world will be arriving from 10 Sept to attend a meeting till 20th of Sept.
This important event is known to contribute to national income, increase revenues in hotel businesses and promoting the nation's tourism industry. This will be a good opporunity to showcase Singapore to the world.
Hotels in Singapore, will be having high occupancy as the Singapore Hotel Association (SHA) has already blocked rooms for the arriving delegates.
Ironically, travel agents in Singapore will not be making good profits during this period because there are not many rooms left for leisure travellers. Even if there are rooms avaliable, the rates will not be appealing to those leisure travellers. Hotel rates will be on rack rates, a simple deluxe room can cost up to SGD$450 to SGD700. Not including government taxes(+++). haha.
Similarly, Tour and transportation agency will lose out in this period too. Government has already made decision to give the business to government bodies, such as, NTUC, MaxiCabs and catered buses to transport the delegates. BMW will also sponser about 400 new series cars to cater the VIPs etc. Wow!
Well. The Tourism and Hotel Industry is blooming. I'm glad that its improving.
