STB expects flat to moderate growth for Singapore tourism industry
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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
US mulls first green-bond sales to tap a US$2.6 trillion market
US factory activity shrinks with price gauge highest since 2022
Hong Kong faces uphill battle to lure back Chinese tourists
Weak yen boosts tourist wallets in Japan
Gas prices are putting Washington’s boldest climate policy at risk
India collects record 2.10 trillion rupees as goods and services tax in April