Results in line with tourism board’s yield-driven strategy
Tourism receipts grew 2% year-on-year to S$11.8 billion (€7.3 billion) in the first half of 2014, even as international visitor arrivals dipped 3% to 7.5 million over the same period.
Tourism receipts are an important indicator of tourism performance and the Singapore Tourism Board is stressing that the results are in line with its yield-driven strategy as it pursues “quality tourism”. The first-half growth came on the back of higher expenditure in sightseeing, entertainment and gaming.
Fewer visitor arrivals were registered following the continued impact of China’s tourism law, enacted in October 2013, and its clampdown on “zero-dollar-tours” and other forms of poor-quality package tours.
In addition, the disappearance of flight MH370, the abduction of Chinese visitors in Sabah and political unrest in Thailand all had a dampening effect on Chinese travel to the region. Excluding China, arrivals from the other markets grew 2% over the same six-month period.
In the second quarter of 2014, tourism receipts dipped 3% year-on-year to S$5.6 billion while arrivals slid 6% to 3.6 million. The tourism receipts decline was mainly due to lower shopping expenditure, particularly from China, Indonesia and Malaysia.
[pictured: Infinity pool, Marina Bay Sands, Singapore]