Singapore has a total population of over 5 million people, with the majority being ethnic Chinese. English is the main language used in schools. The main industries are manufacturing, wholesale, retail, and business services. The Singapore Tourism Board has set targets to triple tourism receipts to $30 billion, double visitor arrivals to 17 million, and create an additional 100,000 jobs in the tourism sector by 2015. There are approximately 155 backpacker hostels in Singapore, providing around 4,750 beds, with average nightly prices between $7-33 USD. Key challenges for hostel operators include selecting suitable properties, implementing backend booking systems, and dealing with stiff competition.