Singapore Tourism records drop in tourist spending in Q2
Despite some 4.6 million visitor arrivals, Singapore tourism sector recorded a drop in overall spending in the second quarter of the year by 1.7 per cent to USD 6.6 billion, compared with the same period last year. It was revealed by the quarterly report by Singapore Tourism Board (STB)
The dip in tourism spending was attributed to lower spending in areas like shopping, 22 per cent less and food and beverage, 15 per cent less, and in sightseeing, entertainment and gaming, 2 per cent less.
However, tourism spending grew for accommodation (6 per cent) and a miscellaneous category that includes expenditure on airfares on Singapore-based carriers, port taxes, local transportation, business, medical, education and transit visitors (20 per cent).
Miscellaneous spending has become the largest part of the tourist spending with an estimated USD 1.8 billion.
Singapore has hosted the meeting between US President Donald Trump and North Korean leader Kim Jong Un during June, which attributed in highest visitor arrivals during the month. Visiting tourist numbers increased 11.3 per cent to 1.54 million that month compared with the same period last year, states the STB report.
China, Indonesia and India remained the biggest sources of visitors and spending in the second quarter.
Chinese visitors grabbed the top position for tourist spending on shopping with USD 988 million, which was 43 per cent of total spending on shopping. Indonesian visitors spent USD 766 million, while Indian visitors spent USD 566 million.