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Singapore's tourism receipts slipped 1.7% to $6.6b in Q2

Author: Theodore Koumelis / Date: Tue, 11/13/2018 - 08:43
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The decline was led by the 22% YoY decrease to $1.26b in shopping.

Tourism receipts (TR) fell 1.7% to $6.6b due to a decrease in most segments, the Singapore Tourism Board (STB) revealed. This was despite the 8% YoY increase in international visitor arrivals (IVA) which reached 4.6m for the quarter.

Data from the agency revealed that the declines in tourism receipts were led by the 22% decrease to $1.26b in shopping and the 15% drop to $601m in food and beverage. Sightseeing, entertainment and gaming also saw a 2% dip to $1.45b.

On the other hand, TR receipts for accommodation and other TR components including airfares on Singapore-based carriers, business and transit visitors grew 6% and 20% respectively to $1.48b and $1.78b

The agency also revealed that China continued to lead the generation of tourism receipts with $988m in Q2. It was followed by Indonesia with tourism receipts totalling $766m and India with $566m.

China (1.7 million), Indonesia (1.5 million), India (0.8 million), Malaysia (0.6 million) and
Australia (0.5 million) were Singapore’s top five international visitor-generating markets in 2018, according to STB.

“China (+11%), India (+16%) and Indonesia (+5%) registered the largest absolute YoY growth while Germany (-4%) was the only market recording an absolute YoY decline,” STB added.

For gazetted hotel rooms, revenue grew 9.4% YoY to $1b, STB noted.

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Theodore Koumelis

Co-Founder & Managing Director

Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.