Singapore’s tourism receipts were down 1.3 per cent y-o-y in the second quarter at S$6.5 billion, despite a 1.7 per cent rise in international visitor arrivals to 4.6 million, according to Singapore Tourism Board figures released on November 2019.
The slide in Q2 receipts brings the first-half figure to S$13.1b, less than half the S$27.3-S$27.9b forecast for the year; but the number of arrivals still on an uptrend.
Nevertheless, the figures show an improvement from the first quarter's 4.8 per cent fall in tourist spending. With the latest figures, tourism receipts for the first six months of 2019 were S$13.1 billion, down 3 per cent from the year-ago period. This was despite a 1.3 per cent rise in arrivals to 9.3 million. Meanwhile, Singapore continues to be an attractive tourism destination despite facing some headwinds, with tourist arrival up 1.9 per cent y-o-y. This was driven by good growth from key markets such as China up 5 per cent), the US up 12 per cent), Japan up 7 per cent) and Germany up 10 per cent).
The decline in receipts for the first half was due to lower spending down 5 per cent, and tourist arrivals down 4 per cent. Cautious spending may be due to uncertainties in the global economy, such as the US-China trade tension, Brexit as well as currency fluctuations against the Singapore dollar.
In the second quarter, the top three markets for tourism receipts - excluding expenditure on sightseeing, entertainment and gaming - stayed the same, led by China at S$897 million, with Indonesia and India contributing S$757 million and S$478 million respectively. These were also the top three markets for tourist arrivals in the first six months, with 1.81 million, 1.49 million, and 747,000 respectively.
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