Singapore’s first quarter results look impressive

Published on : Thursday, August 3, 2017

singaporeAs per the latest details of Singapore Tourism Board, the country saw tourism receipts increase in the first three months of 2017. The growth was due to the increased visitor arrival and higher spending in all major tourism components. Except sightseeing, entertainment and gaming, which stood steady, the rest of the tourism segments saw a rise than the previous year.


The tourism board said that visitor arrivals grew approximately 4 percent year-on-year to 4.3 million in the first quarter of 2017, driven by growth in the key markets of China and Indonesia.


Until March 31, 2017, the number of visitors from China reached approximately to 851,000 which is about 14 percent from the prior-year period. The number of visitors from Australia and India increased by 6 percent and 7 percent, respectively, to 272,000 and 241,000.


The tourism receipts for the first quarter rose by approximately 15 percent year-on-year to SGD6.4 billion (US$4.7 billion) on the back of increased food and beverage, shopping and accommodation spending, the tourism board said.


The Singapore Tourism Board is forecasting tourism receipts to grow in the range of 1 percent to 4 percent or in full-year aggregate terms to SGD25.1 billion to SGD25.8 billion for 2017.

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