SingapoRediscovers Vouchers scheme yields S$300 million in spending: STB

THE SingapoRediscovers Vouchers (SRV) domestic tourism stimulus scheme yielded roughly S$300 million in spending, the Singapore Tourism Board (STB) said on Friday (Jan 21).

That sum - which spanned 2.6 million transactions - comprised S$120 million in out-of-pocket payments and S$180 million in vouchers backed by the STB. It does not include ancillary, out-of-pocket on-site spending, such as food and beverage purchases.

The SRV programme opened in December 2020, with adult Singaporeans expected to receive S$320 million in credits that would be spent to support local businesses as short-term travel into the Republic was curtailed by border restrictions during the Covid-19 pandemic.

The scheme was originally set to expire in June 2021, but the deadline was later extended to end-2021 amid low take-up rates. Bookings made by that deadline are valid until Mar 31, 2022.

The STB picked 5 platforms - Changi Travel Services, GlobalTix, Klook, Traveloka and Trip.com - to administer the vouchers, which could be used for hotel stays, tours, and attraction visits.

But eateries and retailers in tourist hot spots were excluded from the redemption programme.

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Chan Chun Sing, then the minister for trade and industry, said in a parliamentary response in February 2021 that the SRV scheme was aimed at "tourism businesses, specifically hotels, tourist attractions and tours, that derive most of their income from tourists", although he noted that ineligible merchants could work with hotels, tours and attractions on bundles or deals.

By the end of the SRV scheme, about 1.9 million Singaporeans had used their vouchers at least once, the STB said in its update. Roughly 3 million users were eligible for the SRVs.

"We thank Singaporeans for supporting our local tourism businesses, and we hope that they will continue to explore and rediscover Singapore in 2022," the STB said in its statement.