Debated in Parliament on 14 Feb 2022.
Mr Edward Chia Bing Hui asked the Minister for Trade and Industry (a) what are the number and percentage of SingapoRediscover Vouchers (SRVs) redeemed at the end of 2021; (b) what is the percentage of SRVs that have been donated, unused and lapsed; and (c) what is the Ministry's assessment of the impact of SRVs on the tourism sector when assessed against the initial target set by STB to justify the creation of these SRVs.
One hundred and eighty million dollars in vouchers were used by the end of the SingapoRediscovers Voucher (SRV) scheme on 31 December 2021. This constitutes 56% of the $320 million budgeted. The remaining funds from the unused vouchers will be used for other Government initiatives and priorities.
Singaporeans donated close to $3 million of the $180 million vouchers redeemed. We thank Singaporeans for their kindness and generosity towards the various non-profit organisations and their beneficiaries in giving them the opportunity to rediscover Singapore as well.
The SRV was designed to help local tourism operators, guides and businesses, which have been the hardest hit during this pandemic, and, in the process, encourage Singaporeans to rediscover our island's inherent sights and charm. Collectively, SRV transactions generated about $300 million in voucher redemptions and out-of-pocket top-ups. The scheme also contributed close to $100 million in ancillary spending, such as retail, food and beverage, and transport. While the scheme has ended, we urge Singaporeans to continue supporting our local businesses and exploring our country, including our vibrant neighbourhoods and arts and heritage trails.
PAPERCUTS