Hotel rooms in Singapore are now the most expensive in almost a decade as the city-state seeks to position itself as the tourism and business destination in Asia.
The average hotel room rate in July was S$259 a night, up 70% from the same month a year ago.
The hotel room prices in the financial hub reached a decade high.
The Singapore Tourism Board is owned by the government.
Luxurious stays in the Southeast Asian nation are still cheaper than in other big cities.
The average cost of a five-star hotel in Singapore is more than double that of Hong Kong, Tokyo and London. The cost of a five-star hotel is S$318 per night in Australia and S$256 in South Korea.
Visitor arrivals in Singapore increased for the sixth month in a row in July to 726,601. The country is playing host to a growing number of international business and sporting events.
There is a plan to make a new mega terminal proof.
The Formula One Grand Prix will take place in September. Two years after a break. Singapore's transport minister S Iswaran told local media in August that this year's night race is set to see its biggest turnout since the inaugural event in 2008.
Green Day and Westlife perform away from the track. Other big names in entertainment will be in Singapore later this year.
The Milken Institute Asia Summit, Forbes Global CEO Conference, and severalcryptocurrencies will be hosted in Singapore.
Hong Kong requires three days of hotelQuarantine for incoming visitors.
Over 37,000 people attended more than 150 local and international events in the first three months of the year in Singapore.
The number of visitors is expected to grow to 6 million. The board said that the nation saw 1.5 million visitor arrivals in the first half of the year, 12 times more than last year.
In the first half of the year, Indonesia, India, Malaysia, Australia and the Philippines accounted for more than half of Singapore's total visitor arrivals.
Low Dewei, and Nonomiya assisted.
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