Economic Impacts and Tourism Roles of the event

The economic impacts of the event derives from 3 sources which are expenditures by visitors from outside the region, capital expenditure on facilities required to conduct the event and expenditure incurred by event organizers and sponsors to stage the event.

Singapore Biennale 2008 had brought in much tourism receipts as it has attracted art lovers from all over the world to view artistic collections we have in our exhibition. When people travel thousand of miles over to Singapore to appreciate art, they would stay over for a few nights to tour around Singapore and all expenditures like the accommodation, food and beverage and shopping will add on to Singapore’s tourism receipts.

Singapore Biennale was a huge event that required much land, electricity, ventilation and renovation of the display sites. Thus, the sponsors and organizers had spent an enormous sum of money on the fanning, electricity, furniture and ventilation in the South Beach Development since no one has used it since year 2000 and air conditioning, facilities and equipment cost in the City Hall.

Many of the art pieces moved from countries to countries for Biennale is an international event. Thus, organizers have spent another sum of money on the transportation, labour, and stage up cost for these exhibits to be presented.

Singapore Biennale is a mega event that requires much pre-preparation work like planning, and designing and decided the stage up for this event would require highly talented persons who may cost substantially. Other working crews for management stage till operations stage of the project contribute greatly to Singapore economy, helping to boost Singapore’s GDP and have a positive impact on Singapore’s economy.

Singapore Biennale 2006 was a success, an exhibition showcasing 195 art collections from 95 artists from all around the world. The first biennale held in Singapore had attracted around 883,000 visitors generating sales of a few million dollars. Since the first Biennale had been such a success, thus, making the success of Singapore Biennale a success easier.

All these money that the organizers, sponsors and tourists have spent would help to increase our tourism receipts and have a positive impact on currency exchange as there is a higher demand of Singapore Dollars if these tourists need our currency during their stay in Singapore.

Singapore Biennale had made Singapore another destination for art lovers to go if they want to find some nice place to appreciate art. Singapore have been trying its very best to promote art, from the building of our esplanade, Singapore had used much effort to bring in art events and festivals into Singapore. Thus, Singapore is another step closer to being a artistic country after Singapore Biennale had been a success.