Tourism receipts was $6.5b in Q1 as per Singapore Tourism Board

Wednesday, August 7, 2019

Tourism receipts dipped 4.8 per cent YoY to U.S. Dollars 6.5 billion in Q1 as per a report by the Singapore Tourism Board (STB). However, international visitor arrivals rose over the same period. STB noted that international visitor arrivals (IVA) rose 1 per cent YoY to 4.7 million in Q1.

Spending on all major components, such as shopping (-7 per cent), accommodations (-12 per cent), food & beverage (-7 per cent) and entertainment (-3 per cent) declined in this quarter. Only ‘other’ tourism receipts components rose by 2 per cent to U.S. Dollars 1.87 million.

The increase in the international visitor arrivals wasn’t enough to offset declines in tourism spending. The number of visitor days edged up 2 per cent YoY to 15.7 million days as per Singapore Tourism Board.

The sightseeing, entertainment and gaming segment continue to account for the lion’s share of quarterly tourism receipts figures, contributing U.S. Dollars 1.46 billion. The shopping segment and the accommodations segment generated U.S. Dollars 1.37 billion in Q1. Accommodations and F&B segments accounted for U.S. Dollars 1.26 billion and U.S. Dollars 588 million, respectively.

China still accounts for the largest share of Singapore’s tourist arrivals at 960,000. Other top markets are Indonesia (725,000); India (300,000); Malaysia (283,000); and Australia at (263,000). These five markets accounted for 54 per cent of total IVA throughout Q1.

The top three generating markets were China (U.S. Dollars 1.09 billion), Indonesia (U.S. Dollars 732 million) and India (U.S. Dollars 338 million) in the quarter as well, contributing 43 percent of the overall tourist spending. Amongst the top ten generating markets, Indonesia, USA and Japan registered the highest absolute year-on-year growth in tourist receipts.

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