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Spending on all major components, such as food & beverage (-7 percent), shopping (-7 percent), entertainment (-3 percent) and accommodations (-12 percent) decreased in the same period.
Even in the face of rising international visitor arrivals in Q1, the Singapore Tourism Board has noted that tourism receipts fell 4.8 percent year-on-year to $6.5 billion, reported Singapore Business Review.
Spending on all major components, such as food & beverage (-7 percent), shopping (-7 percent), entertainment (-3 percent) and accommodations (-12 percent) decreased in the same period. Only other tourism receipts components grew two percent to $1.87 million.
The entertainment, gaming and sightseeing segment continue to comprise a majority of the quarterly tourism receipts figures, contributing $1.46 billion.
Next on the list is the shopping segment accommodations segment which contributed $1.37 billion in Q1, while the accommodations and F&B segments made up $1.26 billion and $588 million, respectively.
STB, however, noted that international visitor arrivals (IVA) grew two percent year-on-year to 4.7 million in the same period, indicating that the increased tourist arrivals was insufficient to offset declines in tourism spending.
China accounted for the biggest share of Singapore’s tourist arrivals with 960,000, followed by Indonesia with 725,000, India with 300,000, Malaysia with 283,000 and Australia with 263,000. These markets accounted for 54 percent of the total IVA for Q1.
The top generating markets which contributed 43 percent of the overall tourist spending in Q1 were China ($1.09 billion), Indonesia ($732 million) and India ($338 million).
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg
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