Taking part in the Asian leg of ITB here are 651 exhibitors and 5,000 buyers.

Minister for Trade and Industry Lim Hng Kiang said at the opening ceremony that having an Asian run to the annual event, which occurs in Berlin, is timely because of the emergence of the middle class with a growing appetite for travel in China and India.

Even though the current economic crisis may dampen consumer sentiment and their discretionary spending for travel, he said the region should rebound and grow in the medium term.

Singapore has been affected by the recent downturn, with tourism arrivals falling since June. However, Mr Lim is also optimistic for the future.

He said: 'Singapore is fortunate to be strategically located within the Asia-Pacific growth region. With our strong business fundamentals and low unemployment rate, coupled with the exciting pipeline of tourism projects coming on-stream, we expect momentum for our tourism industry to recover in two years' time, allowing us to participate effectively in the expected growth of the region.'

Speaking at a press conference on the trade show, Singapore Tourism Board chief Lim Neo Chian also echoed Mr Lim's optimisim in Singapore's ability to ride the downturn and emerge stronger.

He said that it is likely that the Republic would fail to meet its tourism arrival target of 10.8 million. But he still expects over 10 million visitors to come this year. He added that with new attractions like Marina Bay Sands and Resorts World at Sentosa coming on-stream in 2010, as well as Singapore playing host to the world's first ever Youth Olympic Games in that year, the rebound should be good.