It doesn't come as a surprise that Singapore contributes to this Asian tourism boom. Singapore's travel and tourism industry is quickly becoming one of the country's most influential economic drivers and experienced unprecedented growth in the past decade. It now accounts for more than four per cent of Singapore's nominal gross domestic product. In 2013, Tourism Receipts came in at S$23.5 billion, a 2 per cent year-on-year increase, while International Visitor Arrivals grew 7 per cent to 15.6 million.
As promising as these developments sound, the significant growth has led to a manpower crunch. 60% of tourism employers in Singapore said they face difficulty finding suitable manpower. While job opportunities within the tourism industry are phenomenal, we are competing with other sectors for talent.
The key solution to fully leverage the growth of the tourism industry in Asia while solving the problem of manpower shortage lies within the millennial.
There are 1 billion millennial who account for almost 35 per cent of the $600 billion that Asians spend on international travel. As we look at consumption patterns, the reality is that the millennial traveller is going to consume their travel experience differently from most. They are educated consumers that conduct extensive research before making purchases and are looking for a travel experience that is unique and shareable across social media platforms.
In order to cater to this group of travellers and to remain relevant to them, it is crucial that the industry attracts and supports fresh millennial talent that fully understands the needs of these rising millennial travellers.