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Singapore's tourism sector fell short of its 2008 targets for visitor arrivals and revenue.

In a statement, the Singapore Tourism Board said that the industry had been hit by a dramatic slowdown in the second half of this year.

The tourism receipts grew by five percent over 2007, generating a record 14.8 billion dollars.

But this was still below the official target of 15.5 billion dollars.

Singapore also welcomed an estimated 10 million visitors in 2008, a decline of two percent against the previous year.

Visitors from Indonesia, China, Australia, India and Malaysia accounted for about half of total arrivals.

Average room rates based on data from January to November rose 23.5 percent over the same period in 2007, and total hotel room revenue climbed by about 14 percent.

But the average occupancy rate fell by almost six percent points to 82 percent.

In the statement, STB's Chief Executive, Aw Kah Peng said that Singapore's tourism turned in a credible and robust performance in 2008 despite the dramatic turn in the global economy in the second half of the year.

To help the sector through the tough times expected this year, STB is developing a global marketing campaign to drive visitorship to Singapore, emphasising on regional markets.