Singapore Airlines (SIA) was founded back in 1947 and was formerly known as Malayan Airways Limited. The airline has grown and is now widely known among many Singaporeans and others around the world. Currently, Singapore Airlines has a total of 111 fleets flying to 64 different destinations (Singapore Airlines, 2016). One of its closest competitors, Cathay Pacific (CP) has been in the industry since 1946 and has a total of 145 fleets flying up to 70 different destinations(Cathay Pacific, 2016). In the highly sophisticated and competitive tourism industry, SIA should venture into a niche tourism- Adventure tourism by providing exclusive services, for instance, from providing essential adventure travel items on board to discounted customized
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This could be justified from an article from Business Destination which stated that there is an expansion in Adventure Tourism at a rate of 65% since 2009 and it is still growing (French, 2015). Our company’s SWOT Analysis also agreed that there is a growth in the global tourism industry of about 4.4% since 2009 and was estimated to have grown by 4% in 2016 (Marketline, Page 23, 2016). This is a prime opportunity for SIA to exploit as CP have yet to advance from providing only flights and accommodation options for travelers. CP has financial obligations which may hinder their expansion plan despite a growing global tourism industry (Marketline, Page 20, 2016). With this growth, it will aid in strengthening the company’s brand image just like how the company did by sponsoring Formula 1 Singapore Grand Prix back in 2015 (Singapore Airlines, 2016) which has helped to broaden our customer base and shaped a new relatable identity. On top of that, this opportunity will create a new channel of revenue for the company. With high goodwill attached to SIA’s brand name, SIA should remain ahead of CP by venturing into Adventure …show more content…
The company operates in East Asia (43.9%), South West Pacific (9.4%), Europe, the Americas, West Asia and Africa (Markertline, 2016) and this will greatly support the company as Business Destination reported that countries like Burma, Mexico, Brazil and others are becoming increasingly popular (French, 2015). On top of that, the company offers flights to these destinations as well. This is a great advantage for our company as even with CP’s geographically diversified operations and numerous flights to the Americas and the other countries, their focus is still ultimately in Hong Kong and Mainland China (50.3%) (Marketline, 2016). Since CP is focusing more on Hong Kong and China, SIA could take the chance to ride on the fact that there is a change in travel preferences to developing countries and possibly put more focus on these countries. With SIA flying to destinations that are popular among the adventure travelers, it will likely be able to entice them to travel with us as we will be able to cater to their needs. The company’s wide geographic base will also aid in the partnership with various tour operators to enhance the services provided to the adventure travelers. This growth opportunity will allow our company to maximize the resources that we have and gain a competitive edge in the
This could be justified from an article from Business Destination which stated that there is an expansion in Adventure Tourism at a rate of 65% since 2009 and it is still growing (French, 2015). Our company’s SWOT Analysis also agreed that there is a growth in the global tourism industry of about 4.4% since 2009 and was estimated to have grown by 4% in 2016 (Marketline, Page 23, 2016). This is a prime opportunity for SIA to exploit as CP have yet to advance from providing only flights and accommodation options for travelers. CP has financial obligations which may hinder their expansion plan despite a growing global tourism industry (Marketline, Page 20, 2016). With this growth, it will aid in strengthening the company’s brand image just like how the company did by sponsoring Formula 1 Singapore Grand Prix back in 2015 (Singapore Airlines, 2016) which has helped to broaden our customer base and shaped a new relatable identity. On top of that, this opportunity will create a new channel of revenue for the company. With high goodwill attached to SIA’s brand name, SIA should remain ahead of CP by venturing into Adventure …show more content…
The company operates in East Asia (43.9%), South West Pacific (9.4%), Europe, the Americas, West Asia and Africa (Markertline, 2016) and this will greatly support the company as Business Destination reported that countries like Burma, Mexico, Brazil and others are becoming increasingly popular (French, 2015). On top of that, the company offers flights to these destinations as well. This is a great advantage for our company as even with CP’s geographically diversified operations and numerous flights to the Americas and the other countries, their focus is still ultimately in Hong Kong and Mainland China (50.3%) (Marketline, 2016). Since CP is focusing more on Hong Kong and China, SIA could take the chance to ride on the fact that there is a change in travel preferences to developing countries and possibly put more focus on these countries. With SIA flying to destinations that are popular among the adventure travelers, it will likely be able to entice them to travel with us as we will be able to cater to their needs. The company’s wide geographic base will also aid in the partnership with various tour operators to enhance the services provided to the adventure travelers. This growth opportunity will allow our company to maximize the resources that we have and gain a competitive edge in the