18 Sep 2013
· New data from Amadeus and ForwardKeys shows a 12.6% spike in bookings made for the 2013 F1 period.
· Boost in arrivals from key Asian cities, with Hong Kong and Seoul showing strong growth as source cities for inbound visitors to Singapore.
· The F1 long weekend gets longer, with a 29% jump in arrivals on Wednesday 18th September.
Amadeus, a leading technology partner for the global travel industry, and Forward Data SL, a market research and consulting company, today unveiled travel trends, based on global travel agency air reservations, that highlight the growing impact of the Singapore F1 night race on inbound travel to the city.
Bookings for the F1 period, made until 1 September 2013, show a 12.6% spike in overall bookings over the previous year. Compared to 2012, which saw arrivals shrink by 1.9% from 2011, the sharp growth in bookings for this year’s event reaffirms the Singapore government’s decision to extend the country’s F1 contract to boost tourism to the Asian city state.
The data shows that a surge in last minute bookings can be expected. Looking at booking data three weeks before the first race, 30% of the final 2012 F1 arrival figures had not even been booked yet.
Top trends identified:
- Public holidays in Asia Pacific drive tourists to Singapore; Hong Kong and Seoul take first and third spots on the podium for top source cities
With the 2013 night race coinciding with the Mid-Autumn Festival public holidays in Hong Kong and Korea, tourists from these countries are flocking to Singapore for the long weekend. Hong Kong, which showed a 37% increase in bookings over 2012, takes over pole position from London as the top source city for F1 arrivals this year, accounting for 8% of total bookings. London holds on to second place with 7% of total bookings, while Seoul makes a grand entry into the top three with 6% of total bookings – a staggering 241% increase over the previous year.
- Australians take the top spot as Singapore F1’s biggest fans
Despite Hong Kong, London and Seoul taking the top spots as key source cities, the data shows that the biggest F1 Singapore fans are in fact, Australians, who account for 17% of total bookings this year. With Australia overtaking the UK as the primary source country, the latter moves down to second place with 8% of total bookings. Rounding up the top three source countries is Indonesia, with 6% of total bookings.
- The long F1 weekend gets longer, with more race goers arriving earlier in the week
While Thursday 19th September and Friday 20th September show peak arrivals, the data shows the biggest growth (29%) in arrivals on Wednesday 18th September, three days before the first qualifying race. This suggests that the F1 weekend is starting earlier than before, with tourists looking to enjoy more of Singapore beyond the iconic night race.
Angel Gallego, President Amadeus Asia Pacific said, “The sharp growth in the number of visitors flocking to Singapore for the F1 race underscores the significance of the event for the city’s tourism industry. Travel providers will do well to take note of changing traveller behaviours, such as the increasing propensity for travellers to book last minute, to fully leverage the opportunities present.”
Olivier Jager, CEO of Forward Data added, “Market intelligence can help travel companies better understand travel patterns around major events, and help them to capitalise on the opportunity such an event offers. The data used in this analysis represents actual bookings made, so travel providers can base their business decisions upon it with confidence.”
The forecast provided by ForwardKeys.com, a business intelligence tool launched by Forward Data in partnership with Amadeus, is based on actual air booking data available as of 1 September 2013.
Notes to the editors
About the research
Market Research and Consulting Company for the Travel Industry Forward Data SL publishes ForwardKeys.com a web site and a database aggregating Air reservation information worldwide.
This study is based on air reservations processed through online and off-line Travel Agencies worldwide using the leading reservations systems (GDS), as aggregated within ForwardKeys.com database until the (01/09/2013). For more information about ForwardKeys.com data, studies and methodologies, please contact us by email at market_info@ForwardKeys.com.
Facts, figures and observations published in this document are no projection or extrapolations, but concrete and factual information based on the information available at the time and market fluctuations.
The analysis is based on all reservations stored in ForwardKeys.com database for international travelers that have made an Air reservation to travel to Singapore for the considered “Singapore F1 Period”.
“Singapore F1 Period” has been considered for this analysis as the full week before the “Singapore Grand Prix” finishes; therefore from 15 Sep to 22 Sep 2013 and past equivalent dates.
Reservations aggregated the day of the study represent a total of 70% when compared to actual arrivals for the period of concern in 2012 (As a matter of comparison, at same day and same week in 2012, 70%of arrivals later observed for 2012 “Singapore F1” had been processed).
You can find a snapshot of the information used for the research at http://www.forwardkeys.com/revenue-management/article/Perspectives-2013-Singapore-F1.html
ForwardKeys background information
Market Research and Consulting Company Forward Data SL, a company registered in Spain, publishes www.ForwardKeys.com, and an innovating service bringing a new approach to operational traveler data intelligence for Hotels Chains, Tourism boards and Destination Management Organizations (DMOs) leveraging non confidential Air reservation information.
ForwardKeys provides DMOs and Tourism Boards with travelers’ trends information and means to monitor and measure the impact of their marketing efforts to drive more business to their destination
ForwardKeys provides Hotel chains with ways to quantify future demand and anticipate market trends to optimize sales, marketing and revenue management efforts, using traveler’s reservation, source market, arrival, return date and future travel information.
For more information about our company and services, please contact us at info@ForwardKeys.com or visit our web site at www.ForwardKeys.com.
Disclaimer
© 2013 Forward Data, S.L.
Forward Data, S.L. is providing the information in this document “AS IS” without warranty and for informational purposes only, and shall not be liable for any damages, including loss of profit or goodwill, for any matter arising out of or relating to the use of this information or any statement made in this document. The information may be used or republished as long as ForwardKeys.com is credited as the origin. ForwardKeys is a registered trademark of Forward Data S.L. Other company, product, or service names used herein may be trademarks or service marks of their respective owners in Spain, the USA or other countries.
About Amadeus
Amadeus is a leading provider of advanced technology solutions for the global travel industry. Customer groups include travel providers (e.g. airlines, hotels, rail and ferry operators, etc.), travel sellers (travel agencies and websites), and travel buyers (corporations and travel management companies).
The Amadeus group employs around 10,000 people worldwide, across central sites in Madrid (corporate headquarters), Nice (development) and Erding (operations), as well as 71 local Amadeus Commercial Organisations globally.
The group operates a transaction-based business model. For the year ended December 31, 2012 the company reported revenues of €2,910.3million and EBITDA of €1,107.7 million.
Amadeus is listed on the Spanish Stock Exchange under the symbol "AMS.MC" and is a component of the IBEX 35 index.
To find out more about Amadeus please visit www.amadeus.com
Contact details
Amadeus IT Pacific
Satu Raunola
Marketing Communications Manager
Tel 02 9903 3939
