The Supertrees vertical gardens and the Marina Bay Sands Hotel reflected in a pond at the Gardens by the Bay in Singapore. The Singapore Tourism Board is targeting more tourists from the arabian Gulf. Wallace Woon / EPA
The Supertrees vertical gardens and the Marina Bay Sands Hotel reflected in a pond at the Gardens by the Bay in Singapore. The Singapore Tourism Board is targeting more tourists from the arabian Gulf.Show more

Singapore sees Arabian Gulf carriers as key to boost tourism



The Singapore tourism authority expects to work with Arabian Gulf carriers this year to promote the destination as it targets a modest rise in tourist numbers from the region.

Last year, it received 80,212 tourists from the UAE, a 2 per cent rise over the previous year.

This year, it is targeting a 1 to 4 per cent rise in the number of tourists from the UAE, according to Mohamed Firhan Abdul Salam, the area director for the Middle East and Africa for the Singapore Tourism Board (STB).

“We are cautiously optimistic this year because of the low oil prices that has affected corporate travel,” he said. “But the [Arabian Gulf] region has excellent connectivity with Singapore.”

There are 49 direct flights a week between this country and the South East Asian island, with 17,248 seats on Emirates Airline, Singapore Airlines and Etihad. Last year, the STB partnered with Etihad to promote the destination. The UAE is its strongest source market in the region, Mr Salam said.

Singapore received 16.4 million visitors last year, up 7.7 per cent over 2015. This year, it expects a flat-to-modest growth of up to 16.7 million visitors.

Singapore, home to several theme parks, also expects to field competition from Dubai’s rising profile as a theme park destination. DXB Entertainments said this month it would tap into Saudi Arabia, India and the United Kingdom markets to attract tourists this year.

China, Indonesia and India were Singapore’s top three source markets last year.

“There could be an impact to the theme park visitation but Singapore remains a family friendly destination and we are constantly reinventing our offerings,” Mr Salam said.

Last June, Mandai Safari Park Holdings announced the rebranding of its Singapore nature precinct, which would add a new Bird Park and a new multi-level Rainforest Park to the existing attractions of Singapore Zoo, Night Safari and River Safari in Mandai. It will take about three years to complete, Mr Salam said.

India is a large tourism market and both Dubai and Singapore are likely to benefit from it, according to Filippo Sona, the head of hotels for the Middle East and North Africa region at Colliers International.

While Singapore gets a lot more South East Asian tourists than Dubai, the emirate receives a higher number of visitors from Europe, he said.

“Dubai, however, has more diversified offerings such as beaches and deserts,” Mr Sona said. “That said, Dubai Parks and Resorts have not been aggressive enough in marketing its theme parks in the region and it should not wait to do so.”

Singapore has fewer hotel rooms at 63,618 compared with Dubai’s 88,837 at the end of January, according to the research company STR. It has a pipeline of 4,803 rooms from 17 properties compared with Dubai’s 42,761 rooms from 146 hotels, STR said.

Mr Salam said: “So far we have managed with the room stock and this year there will be more mid-range to high-end openings.”

This year, among the new hotel openings in Singapore are Andaz Singapore, Hotel InterContinental Robertson Quay, Courtyard by Marriott and Yotel.

Dubai’s large number of hotel rooms and their steady supply have put a downward pressure on the room rates for the past couple of years. Last year, Dubai’s average room rate fell by 9.9 per cent to Dh894.27 compared with 2015. Singapore’s average room rate fell by 4.3 per cent to 280.64 Singapore dollars (Dh727.14) compared with 2015, according to STR.

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Dr Betina Rogalski said "The younger the child the more difficult it into pick up the symptoms. If the child is small, it may just be a bit grumpy or pull its leg a way or not feel like walking,” she said.
According to The National Institute of Arthritis and Musculoskeletal and Skin Diseases in US, the most common symptoms of juvenile arthritis are joint swelling, pain, and stiffness that doesn’t go away. Usually it affects the knees, hands, and feet, and it’s worse in the morning or after a nap.
Limping in the morning because of a stiff knee, excessive clumsiness, having a high fever and skin rash are other symptoms. Children may also have swelling in lymph nodes in the neck and other parts of the body.
Arthritis in children can cause eye inflammation and growth problems and can cause bones and joints to grow unevenly.
In the UK, about 15,000 children and young people are affected by arthritis.

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UAE currency: the story behind the money in your pockets
Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home. 

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Family: I have three siblings, one older brother (age 25) and two younger sisters, 20 and 13 

Favourite book: Asking for my favourite book has to be one of the hardest questions. However a current favourite would be Sidewalk by Mitchell Duneier

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Favorite place to go in the UAE: A quiet beach.

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