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Singapore’s tourism receipts grew despite drop in arrivals

  • Published by Ozgur Tore

Singapore Tourism Board (STB) announced that in the first half of 2014, tourism receipts (TR) grew 2 per cent year-on-year to S$11.8 billion, even while international visitor arrivals (IVA) dipped 3 per cent to 7.5 million over the same period.

This growth in 1H 2014 TR was on the back of higher expenditure in Sightseeing, Entertainment & Gaming (SEG) from January to June. Fewer visitor arrivals were registered following the continued impact from China’s tourism law, which was enacted in October 2013. In addition, the disappearance of flight MH370, abduction of Chinese visitors in Sabah and political unrest in Thailand have all had a dampening effect on Chinese travel to the region. Excluding China, visitor arrivals from the other markets grew 2 per cent over the same six-month period.

In the second quarter of 2014 (Q2), TR dipped 3 per cent year-on-year to S$5.6 billion while IVA slid 6 per cent to 3.6 million over the same period. The TR decline was mainly due to lower shopping expenditure, particularly from China, Indonesia and Malaysia, but was partially offset by the growth in Sightseeing, Entertainment & Gaming (SEG) expenditure.

Gazetted hotel room revenue came in at an estimated S$0.8 billion (+5.2%) in Q2 2014 and S$1.6 billion (+9.1%) from January to June 2014.

stb-q2perf

Tourism Receipts (TR) for the second quarter (Q2 2014) were estimated at S$5.6 billion, a 3 per cent decline over the same period last year. Sightseeing, Entertainment & Gaming (SEG) recorded the largest year-on-year increase of 12 per cent as both integrated resorts reported increases in their overall gaming revenues. However, declines in spending on Shopping and on Other TR Components were observed in Q2 2014. Apart from fewer visitor arrivals, the shopping expenditure could be affected by the strength of the Singapore currency.

Top three TR generating markets

Excluding expenditure on Sightseeing, Entertainment & Gaming (SEG), Indonesia (S$695 million), China (S$554 million) and India (S$329 million) were the top three TR generating markets in Q2 2014, and made up 38 per cent of TR excluding SEG.

Of the top ten markets, Hong Kong (+30%) saw the highest year-on-year growth in TR, boosted by increased BTMICE traffic and a double-digit growth in their per capita expenditure.

International Visitor Arrivals

Singapore’s international visitor arrivals (IVA) came in at 3.6 million in the second quarter, down 6 per cent from the same period last year. IVA for the first half of the year stood at 7.5 million, a 3 per cent year-on-year decline caused by weaker visitor arrivals in Q2 2014.

stb-h1visitors

Indonesia (1,525,000), China (871,000), Malaysia (592,000), Australia (529,000), and India (492,000) were Singapore’s top five international visitor-generating markets from January to June 2014.

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