Tapping the potential
BIZSPORT
| He finished only 27th and picked up $9,050 (approx S$14,500) from the tournament while two other Singaporean golfers earned less than $1,500 (S$2,400) for the week. |
| The Singaporeans were, however, happy. Not because they hosted a fantastic golf event, but because the recent sporting events have been bringing in tourist dollars and giving the economy a boost. |
| Nearly 20,000 spectators witnessed four days of golf, which had the best both from Europe and Asia compete against each for the prestigious Singapore Masters title. |
| Of that, almost 15 per cent were foreign spectators who had come to watch golf, enjoy Singapore and do some shopping. |
| "That's what sports events in Singapore are all about," said S Lim, a senior official at the Laguna Resort Raffles the Plaza. |
| The official hotel of the tournament is said to have been fully booked for the week, with more than two-thirds of the total 760-odd rooms having been occupied by golfers, golf tourists and officials. |
| Before the week ran out, Sentosa Leisure Group, which aims to promote Sentosa as the premier tourist spot, had decided to revive the Singapore Open golf tourney, which was last held in 2001. |
| The tournament will carry a purse of $2 million (S$3.2m), that is two times the amount Caltex Singapore Masters offered. |
| The idea is to get top pro golfers from Asia to play for such a huge purse and promote the Sentosa Island and the Sentosa Golf Club, which will host the event in September. |
| "I would like to thank the Singapore Golf Association for their efforts in securing such backing for the Singapore Open and the Sentosa Leisure Group for their faith in the professional game in Asia. I am sure the Singapore Open will be one of the highlights of the 2005 golf calendar, " said Louis Martin, chief executive of the Asian Tour. |
| "Golf is contributing substantially to the economy of Singapore," he added. |
| Figures showed that the 2004 Singapore Masters generated S$8.2 million for the local economy, with S$3.1m coming from operational costs, S$2.85m from event promotions and a tidy S$2.27m from tourist revenues. |
| The total figure for this year is expected to go well over S$10m, more than a 20 per cent increase over 2004. Overall, almost S$25m was generated for the local economy in 2004 from various sporting events. |
| A recent analysis showed that the Ryder Cup in Detroit in 2004 brought in over $80m for the Detroit. |
| With the global market becoming more and more competitive, Singapore plans to cash in on sports events to promote itself and bring in more tourist dollars. |
| In 2003, Singapore played host to 32 international events, which were either regional, continental or global in nature. In 2004, the figure rose to 42 with major events including the Golf Masters. |
| This year, in 2005, Singapore will host the high-profile International Olympic Committee meeting in July, when the venue for the 2012 Olympics will be decided, and that event alone is expected to generate S$40m. |
| With numerous other events, the total amount that will be generated around the economy could as huge as S$70 million. |
| Is anyone in India listening? |