Published on : Wednesday, February 15, 2017
In 2016, overseas tourist arrival and spending had reached record heights intensified by the growth of China Market and travelers spending more on food, shopping, beverage and accommodation like never before. The number reached 16.4 million than the previous year which was 7.7 percent. Tourism receipt rose to $24.8 billion as estimated by the Singapore Tourism Board.
In 2015, tourism receipts fell 7.6 percent which is tantamount to $21.8 billion, first major decline since 2009. To quote Lionel Yeo, STB chief executive, ‘’ Despite challenges such as weaker economic performance in some of Singapore’s top source markets and a Zika virus outbreak, Singapore has managed to attract more quality visitors to contribute to economic growth.”
He also added that gross domestic product for Singapore stayed at 4 percent last year. Lionel stated, ‘’ we saw not just more visitors, but the type we hope to attract.”
Surprisingly, retail was the top performer. In comparison to 2015, 48 percent more visitors spent on shopping from January till September 2016. Besides, visitors also spent 28 and 24 percent in accommodation, beverage and food.