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STB expects flat to moderate growth for Singapore tourism industry

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Given persistent headwinds, the Singapore Tourism Board expects flat to moderate growth for the tourism industry this year.

GIVEN persistent headwinds, the Singapore Tourism Board expects flat to moderate growth for the tourism industry this year.

Visitor arrivals are expected to clock 15.1 to 15.5 million with tourism receipts at S$23.5 billion to S$24 billion. 

Visitor arrivals in the first two months of this year were down 5 per cent year on year, said Minister in the Prime Minister's Office S Iswaran at a tourism conference on Tuesday morning.

This comes after a tough year in 2014 where tourism numbers fell 3 per cent year on year and tourism spend was flat. Challenges included an uncertain global outlook, stiff regional competition and a relatively strong Sing dollar.

However, Mr Iswaran also pointed to positive near to mid-term prospects such as continued strong outbound travel in the Asia Pacific.

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