Relevant Industry Profile and Prospects
School of Business and Services, and List of Courses
Graduates' Employment Performance

 

RELEVANT INDUSTRY PROFILE AND PROSPECTS

The School of Business & Services conducts various business, accounting and service courses at the Higher Nitec and Nitec levels, to support the following service sectors:

Beauty & Wellness
Business Services
Early Childhood Education
Meetings, Incentives, Conventions and Exhibitions (MICE)
Sports & Fitness
Tourism
Transport & Logistics
Wholesale & Retail

Singapore was ranked the best place to do business in the Asia-Pacific region and was ranked 7th globally by the Economist Intelligence Unit in July 2003. It offers companies the key ingredients for business success - strong infrastructure, skilled and dedicated workers, global trade and communication links, and a carefully nurtured environment for successful enterprise. With its excellent infrastructure, Singapore has been viewed as an ideal place to do business. It has also served as the gateway to the region.

 

BEAUTY & WELLNESS

The Beauty & Wellness industry in Singapore is growing and has become an important segment of the tourism and hospitality market. Today, the Beauty & Wellness business is estimated to be worth more than $200 m a year. The industry has grown by about 20% over the last 3 years, fuelled by a greater demand for spa services by both locals and tourists. As part of making Singapore a lifestyle hub in Asia to grow the tourism sector, the Singapore Tourism Board is promoting the spa cluster in Singapore. Recognizing the opportunity to further capitalize on the growth potential, the government has taken steps to nurture the local spa industry and help establish Singapore as a hub for the spa industry.

 

BUSINESS SERVICES

The services sector has been identified as one of the twin engines of growth to propel the Singapore economy in the 21st century. To develop Singapore into a premiere services hub in Asia with a global orientation, there are plans to further enhance local competencies in business services, as well as to attract major international players in key services industries to our shores.

 

EARLY CHILDHOOD EDUCATION

Based on an MCYS report, there are in excess of 700 childcare centres in Singapore as at Dec 2006. Together, they offer more than 60,000 child care places. Embedded in the service are early childhood educational and development programmes to cater for the physical, intellectual, and emotional and needs of young children. There has been a steady demand for trained practitioners who can play a range of roles. These include Play Group Leaders, Assistant Preschool Teachers and Childcare Assistant Teachers.

 

MEETINGS, INCENTIVES, CONVENTIONS AND EXHIBITIONS (MICE)

Singapore has set high targets for the MICE sector: projected revenue of approximately S$10.5 billion and more than 2 million MICE visitors by 2015. Since 2006, Singapore Tourism Board (STB) has launched a set of key initiatives to establish Singapore's calibre as an events destination. These initiatives include the re-development of Marina Bay area into an integrated, compact and vibrant MICE location. STB is also committing S$170 million out of the S$2 billion Tourism Development Fund to finance the development of business events for the next few years. These focus and initiatives propel the growth in the volume and calibre of events.

 

SPORTS & FITNESS

The Sports & Fitness industry in Singapore enjoys good government support as S$300 million is put into the Sporting Singapore Fund to finance sports development until 2010. The government is building a new S$800 million world-class Sports Hub, located on a 35-hectare site in Kallang, to create a critical mass of international, regional and local sports federations and associations; sports medicine and sports science service providers; sports-related training and education service providers; and sports companies’ sales & marketing headquarters; retail outlets; R&D and design centres in one centralized location. Besides providing substantial funding support, the government has identified strategic areas to promote and nurture the full spectrum of business opportunities in the sporting world and its related industries.

 

TOURISM

Singapore enjoys distinct advantages in its ability to attract tourists.  Blessed with a unique blend of different ethnicity and culture, the modern metropolitan society is also perceived to be able to uphold traditional values and practices.  Built on the legacy of a colourful colonial past, it is now a progressive independent nation.  Singapore is seen to be a unique and exotic destination in the eyes of the leisure and business travellers.

To further enhance its attractiveness as a tourist destination, the Singapore Tourism Board continues to develop new world class attractions and attract strategic business and leisure events to its shores.  A re-energised Orchard Road as a premier shopping district, the Singapore Flyer, integrated resorts are all part of an exciting and promising tourism landscape.

Singapore Tourism Board’s long term plans aim to triple tourism receipts to $30 billion and double visitor arrivals to 17 million visitors by 2015. The projected growth of the increasingly important tourism sector will provide new and ample employment opportunities in the different sectors of the tourism industry.

 

TRANSPORT & LOGISTICS

Strategic location, efficient 24/7 operations, reliable physical and IT infrastructure, and excellent connectivity have made Singapore a compelling global logistics hub and supply chain management (SCM) nerve centre. Singapore's emphasis on logistics/SCM training and education provides the industry with a dynamic talent pool, well equipped to meet the challenges of the ever-changing supply chain needs.

Singapore's transport engineering sector, underpinned by strong mechanical engineering capabilities, comprises the aerospace, marine and offshore engineering and land transport industries.

 

WHOLESALE & RETAIL

This sector is an integral part of Singapore's domestic sector and a key pillar of Singapore's Economy. To boost the retail sector, it is vital for local retailers to constantly innovate and differentiate. In the new economy, only retailers who can generate and exploit new ideas stand a better chance of success. With the vision of achieving a world-class centre of retail excellence, Singapore has set up the Retail 21 Plan, which aims to work out new strategies for the growth and expansion of the retail industry. As the retail industry is faced with the rapid change in consumer lifestyle, there is also a growing trend for service personnel to be trained in delivering better services to consumers by being equipped with IT skills.

Sources: Extracted from publications from Ministry of Manpower, STB, WDA and EDB, Singapore

 

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SCHOOL OF BUSINESS & SERVICES

Confident, articulate, enterprising and having a creative and inquiring mind, and an independent-learning mindset - these attributes are what we envision our graduates to have.

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