TANG DYNASTY VILLAGE - A MARKET STUDY

Abstract

Singapore's tourism industry has cause for celebration and reflection as it goes forward into the nineties : celebration of twenty six years of extraordinary progress, and reflection on important issues and challenges ahead. Tourism has played an important role in the development and restoration of Singapore's historic and cultural heritage through the implementation of the 1986 Tourism Product Development Plan, the results of which have helped shape the way Singapore is today, improving not only a visitor's experience, but also the quality of life of Singaporeans. As the message of Singapore's tourism appeal becomes more widespread, the industry must respond to the challenges of developing the necessary levels of service and infrastructure to cater to growing visitor demand. As a result, theme developments, aimed at transforming Singapore into a destination of many exciting new worlds, are continuously emerging. One example that illustrates the Government's efforts to achieve this aim is the development of the Tang Dynasty Village. This study, first, highlights the attractive and innovative features of the Tang Dynasty Village and attempts to find out its level of popularity through conducting a survey. Then, this work goes on further to examine factors that might be inherent to the success of the development and carries out a financial analysis to enquire into the level of returns which the developer (FEHL) expects to reap for its investment. Finally, this study attempts to give recommendations as to how the attractiveness of the Tang Dynasty Village might be enhanced.