You are here
Spending by tourists using MasterCard up 10% in first month of Great Singapore Sale
SPENDING by tourists using MasterCard rose 9.9 per cent from a year ago to S$350.6 million during the first month of the Great Singapore Sale.
According to the credit card company, the number of transactions jumped 17.8 per cent to 2.01 million this year compared to 1.7 million in 2014.
Australia retained its pole position, with its visitors spending S$39.5 million, namely at restaurants, over the sale period from May 29 to June 28, 2015.
Malaysia ranked second, with its visitors spending S$29.6 million here, namely on electronic products. Like last year, China came in third, with its visitors spending S$26.9 million, mostly in speciality retail stores.
This year saw the US displacing Japan for fourth place, up from sixth last year. American visitors spent S$21 million, mostly at restaurants. Japan took fifth place with S$20.9 million spent, edging Indonesia out of the top five rankings.
Like last year, spending by local MasterCard users was almost double that of inbound tourists, with S$684.9 million spent domestically on Singapore-issued MasterCard cards. Local cardholders spent 12.7 per cent less this year while making 5.1 million transactions in stores and online, a dip of 7.2 per cent compared to the same period last year.
Restaurants and eating places remain the top category of spend for Singapore-based MasterCard cardholders, who spent over S$65.1 million.
Deborah Heng, MasterCard's group head and general manager, Singapore, said the 10 per cent growth in visitor spend numbers shows Singapore's appeal and resilience as a tourist destination.
"From our data, dining and retail are the largest spend categories for consumers so it is important that Singapore continues to grow these sectors to position itself as an attractive destination with quality, diverse experiences that will draw visitors back," she said.