Singapore Tourism Board (STB) has reported increased tourism revenues through the first half of 2014, despite a dip in international arrivals.
H1 tourism receipts grew 2% year-on-year to SG$11.8bn (US$9.2bn), on the back of higher expenditure in Sightseeing, Entertainment & Gaming. Receipts are an important indicator of tourism performance and these results are in-line with STB’s yield-driven strategy as we pursue quality tourism.
Meanwhile, H1 international visitor arrivals dipped 3% to 7.5mn due to the continued impact from China’s tourism law, which was enacted in October 2013. Excluding China, visitor arrivals from the other markets grew 2% over the same six-month period.
Second quarter performance was particularly weak as tourism receipts dipped 3% year-on-year to SG$5.6bn while international arrivals slid 6% to 3.6mn. STB attributes this to lower shopping expenditure, particularly from China, Indonesia and Malaysia. Food & beverage and accommodation spending also fell, while quarterly Sightseeing, Entertainment & Gaming revenues increase 12%.