154th: Sporns Unaffected by RECESSION Woh!

[makapaaa]

Singaporeans making holiday plans despite gloomy economic outlook
By Dominique Loh, Channel NewsAsia | Posted: 26 October 2008 1725 hrs
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Travel agency staff serving customers at a travel fair.</TD></TR><TR><TD> </TD><TD class=update> </TD></TR><TR><TD> </TD><TD><TABLE style="BACKGROUND-COLOR: #cccccc" cellSpacing=0 cellPadding=0 width=240 border=0><TBODY><TR><TD vAlign=top width="100%"><TABLE cellSpacing=1 cellPadding=0 width="100%" border=0><TBODY><TR style="BACKGROUND-COLOR: #ffffff"><TD><TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR><TD vAlign=top>Related Videos </TD></TR><TR><TD vAlign=top bgColor=#cccccc>

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SINGAPORE: Amid the gloomy economic outlook, Singaporeans are literally taking time out and getting away from the reality of it all.

As Singaporeans approach the year-end holiday season, they are not shying away from spending thousands of dollars on a family vacation.

Holiday bookings at a travel fair on Sunday were being snapped up fast and furious.

Travel agency Chan Brothers said it was expecting some 10,000 people at the fair by day's end. And up to 40 per cent may end up with a booking.

A visitor at the fair, Lee Puay Khng, said: "This is already part of the budget we have set aside. To me, it's only a matter of which country we want to choose from."

Another visitor, Mohd Jawahir, said: ".....we are getting discounts here and if we do spend for this holiday, we will be saving for the other months next year. Without the savings, we definitely won't go."

A third visitor, Terry Ng, said: "I believe overall it will affect a lot of people, but you see the crowd today - I think a lot of people still have spare money to spend!"

In times of an economic slowdown, it may seem unwise to spend thousands of dollars on a luxury such as a vacation.

But the current financial turmoil has created an upside if you choose to travel.

The bigger question is: where you're travelling to that will give you the biggest bang for your buck.

Chan Guat Cheng, executive director of Chan Brothers, said: "Longer haul, they will probably go to Australia, because Australian exchange rate now is actually very attractive. So we also see (more) people are picking up Australian packages as compared to a few months ago."

Over at the SA Tours office, customers were also making a beeline for a holiday.

SA Tours' marcomm manager, Ruth Lim, said: "The financial crisis, cannot be felt yet. The onset hasn't really kicked in. Moving forward....after the Lunar New Year next year.... families will decrease their frequency of travel from three to four times a year to even once or twice."

In anticipation of this, tour operators are tweaking their travel packages, offering cheaper 3-star hotels' accommodation to make it more affordable.

They expect holiday makers to choose shorter trips around the region. More will even pick up budget travel.

And they're looking at a 20 per cent drop in longer-haul vacations to US and Europe, for instance.

Travel agents say they are watching the market carefully and remain cautiously optimistic about the year ahead.

- CNA/ir

 

[GoldenPeriod]

in Golden Period Singapore, everyone got rice to eat, holidays to enjoy!

 

[Conan the Barbarian]

Yep, i was there, but the queue number is about 100 from the currently served despite the multiple queues for different destination. Calculated it would take me at least 3 hrs to be served, so gave up.

My initial reaction when I saw the crowd was "where got recession". I was hoping not too many turn up so that I do not have to wait too long.

Guess this is one time "James" from GE Money came to the rescue of these people.

 

[DIVISION1]

Confidence to go for vacations is a sure sign of strength of the system.

 

[chinkangkor]

An estimated 4,000 people booking tour out of a workforce of 2,700,000 is less than 0.2%.

 

[myfoot123]

Many have ended in high paying jobs last year. So they are keeping it and use their earnings to pamper themselves in this quiet days.

 

[The_Latest_H]

Sweeping bad news under the carpet and hoping it somehow goes away is the worst way to sort out a problem. The PAP is plainly trying to muddle the water, so as to encourage a bubble and for people to overspend.

Never have I seen such a foolish government. Never have I seen such a stupid government. Never have I seen such outrageous actions from an outrageous government.

 

[jw5]

Many have ended in high paying jobs last year. So they are keeping it and use their earnings to pamper themselves in this quiet days.

Singaporean ministers sure don't have to worry.

 

[jw5]

Sweeping bad news under the carpet and hoping it somehow goes away is the worst way to sort out a problem. The PAP is plainly trying to muddle the water, so as to encourage a bubble and for people to overspend.

Never have I seen such a foolish government. Never have I seen such a stupid government. Never have I seen such outrageous actions from an outrageous government.

They are not really outrageous (other than their pay).
They are simply great at stating the obvious and making motherhood statements.

 

[melzp]

Look fm another perspective.
A vacation well spent is better than losing
$$ in stock market.

 

[DOM the Clown]

Here's my salute to "no recession"! Cheers!
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[The_Latest_H]

They are not really outrageous (other than their pay).
They are simply great at stating the obvious and making motherhood statements.

Well, no country can ever fully recover if the current policies that cause the current malaise are continued, and even worse, doubled down on it.

They just want to continue these policies because they are thinking of their financial self-interest and not of the country's.

 

[Powerman]

Sinkees are just a bunch of show offs. They all want to have face so they just ant to throw money.

 

[no_faith]

the crowd might go there simply ask service officer tons of qns and then go home.

 

[TeeKee]

Singaporeans making holiday plans despite gloomy economic outlook

i dunno about you, i think these people are helping to slow down the recession, because if you spend more during a recession, the economy will pick up faster...with the multiplier effect.

so i always spend alot during a recession. when times are good i cut down on spending and save a bit!!!!

when recessions come! i spend like crazy!!!

don't blame people like us for helping the economy!!

 

[peasantJUDGE]

Many S'poreans still have money in their banks. That's a fact. In the present downturn, they're coming out in thousands to take advantage of lower prices to enjoy whatever it is they enjoy -- the typical "cheep cheep" mentality.

 

[johnny333]

Many S'poreans still have money in their banks. That's a fact. In the present downturn, they're coming out in thousands to take advantage of lower prices to enjoy whatever it is they enjoy -- the typical "cheep cheep" mentality.

Sporeans on package tours are going on "cheep cheep" holidays. :o

Its good they're spending on some quality time with the family. If they spend the time in Spore, sure to cost more with the higher prices e.g. exp utilities :(