Starting a Spa Business in Singapore

Global statistics. Since the mid-twentieth century, the spa industry has grown significantly around the world. In 2013, the market size of the global wellness industry grew up more than 3.4 trillion U.S. dollars. According to “The Global Spa & Wellness Economy Monitor Report”, the global spa industry generated $94 billion last year. Thermal/mineral springs sector of wellness industry generated $50 billion worldwide. But wellness tourism (or travel associated with maintaining or enhancing health or wellbeing) was the fastest-growing part of the industry for the past few years. The amount of the earning of this part of the industry was equal to 494 billion. For period from 2012 to 2013 number of people that had taking wellness trips grew by 12% according to U.S. spa industry revenue report for 2013 (“ Statistics and facts”, n.d.).

Singapore: This healthcare system is funded by mandatory taxation and the residents are forced to purchase insurance, much the same as the U.S. One main pro to this system is the preventative medicine offered to high risk groups. One con to this system is the out of pocket cost to the people who are in need of long term care of dental services.

One of the biggest issues in the medical field sector in United Arab Emirates is the lack of work forces such as doctors, nurses, and pharmacists (Gov of the UAE). According to Ministry of health statistics, the number of doctors in United Arab Emirates is 1.75 per 1000 people which is a very low ratio. While the nurses represent 2.7 per 1000 people ( MOH of the UAE,2014 ) . The country had realized the huge gap that impaire the health care system. Thus , the priority was set on its agenda for the plan of the year 2030. where it focuses on the issue and state the following " The Authority is also working on a comprehensive plan to attract, train and retain health care professionals with the focus on increasing the number of Emirati work force" (HAAD,2014).On the other hand the main obstacle that is facing Singapore heath care system is finance . The government is only responsible for the basic health care services. Therefore each individual is expected to take responsibility for his/her own health requirements (Lee & Wong ,2008 ).This issue has the major impact on the health care system of Singapore .However an outstanding country as Singapore would not stay still while such a problem exists in its system

There are many requirements that have to be met after the program and before the license may be obtained.

These licenses must be done before putting the heavy equipment on the highway. When you are leasing your truck to a broker, they will make sure this will be done when you join his/her company.

License renewal- The licensing renewal requirements are not something you have to worry about right away, but it is good to be aware of them for the future.

work in a specialized area then additional tests may be required. Once the exam has been taken and passed the endorsement will

If you are not already a member of AMTA or any national massage membership organization, you may want to take a look at Associated Bodywork & Massage Professionals (ABMP). The ABMP has grown significantly in the last 10 years to out number the membership of the AMTA. Both organizations offer their members significant advantages as professional massage therapists. In addition to a listing in their national therapist directories they provide free marketing tools, liability insurance for a reliable cost and online marketing training courses and workshops.

There are various techniques used to value the organization's financial and business worth. The most common techniques used to value the business are based on accounting and financial principles. The discounted cash flow, Asset based, and relative valuation are useful techniques. The valuations of an organization's worth are performed according to a pre-determined framework best suitable for assessments. Similarly the techniques are not only different in their approach but the results also very on the basis of methodology

It is also easy for many other companies to set up headquarter in Singapore as their starting point in Asia to make it possible to reach to its market point. In addition, Singapore is unique in different lifestyles and culture. It is also known for its capability of attracting sizable foreign investment, pro-business environment and entrepreneurs. Singapore focuses more on a knowledge based economy which can be seen in its education sysem. Furthermore, Singapore is located in the heart of Asia and it plays an important role in international

There were two major happenings that temporarily effected Singapore’s economy between 2001 and 2003—the worldwide electronics slump and the outbreak of Severe Acute Respiratory Syndrome (SARS). Both times, growth bounced back, by world demand for electronics, pharmaceuticals, other manufactured goods, and financial services. The return was mostly contributed to by the economies of its major trading partners—the United States, the European Union, Japan, and China, as well as expanding emerging markets such as India (Bureau of East Asian and Pacific Affairs, 2010). The next

Singapore has a highly developed market which has historically revolved around extensive exports trade, in other words an export driven economy hugely dependant on export of goods to other countries.

Singapore is an island that lies just off the southern tip of the Malay Peninsula between the South China Sea and the Indian Ocean. Its strategic location on major sea lanes has provided the country with an economic importance in Southeast Asia. Singapore is often considered as a base for global enterprises looking to expand into Asia and Asian enterprises looking for global connectivity. Located at the heart of Asia, Singapore is sitting at the centre of business opportunities. Having the four key attributes - Trust, Knowledge, Connected and Life, Singapore is being positioned as an ideal city to Work, Live and Play. Singapore was ranked first in Mercer’s Quality of Living Survey 2009.

The Singapore economy had proved its resilience during the worst post-war recession and experience exceptionally high economic growth during the 42 years since its independence. For the period 1966-1973, the economy expanded consistently at a double-digit growth rate in real terms (Kum Poh, 1982, p.1). Gross Domestic Product (GDP) at constant prices continues to rise at an annual rate of 8 percent till 2005. With population growth at 2.1 percent, per capita GDP increased by 5.8 percent on average each year (Gesquiere, 2007, p. 12).

In addition, with Singapore being a well-established hub for various sectors such as the finance and medicine, business travel in Asia has seen an increase by 20% compared to 2009 (Channel News Asia, 2010). With a rebound in Asian business travel, hotel occupancy in July hit a high of 90% an increase of 10.2% from 2009 and hotel room revenue grew 37.2% (The Business Times, 2010). Being the “Best Business Hotel in the World, Asia-Pacific and Singapore” as awarded by Business Traveller (Shangri-La, 2010), the surge in business travels is definitely advantageous to Shangri-La.