More tourists in Singapore last year but spending reduced
SINGAPORE: The city-state received a record 18.5 million visitors last year as more tourists arrived from its top markets such as China and India, but growth in their spending slowed as they cut back on shopping, data showed yesterday.
Tourism receipts rose one per cent to S$27.1 billion (RM81.3 billion) last year, based on preliminary estimates.
That was slower than a four per cent rise in the previous year as tourists shopped less on items like gifts and souvenirs.
Singapore saw a 6.2 per cent rise in travellers last year from the year earlier, said Singapore Tourism Board (STB).
Arrivals from China, its biggest market, rose six per cent to 3.4 million, while those from India, another major market, rose 13 per cent to 1.4 million.
The data tracks a global trend of increased travelling but reduced spending, according to the STB. Tourists’ spending power was also hit by a stronger Singapore dollar versus some other currencies.
The board forecasts visitor arrivals of 18.7 million to 19.2 million this year, a rise of one to four per cent. It expects a one to three per cent growth in tourism receipts at S$27.3 billion to S$27.9 billion this year.
The STB said challenges include competition from regional destinations as well as a potential slowdown in outbound travel from China as trade tensions with the United States hit sentiment in a slowing economy.
“We are still forecasting growth from China this year. It will probably be a little bit more moderate compared to past years,” said STB chief executive Keith Tan.