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Singapore Tourism Sets a New Record in 2017

News Last year was exceptionally great for hotels in Singapore and the tourism sector in general. For the second year in a row, the number of foreign visitors was growing. Moreover, tourists keep spending more during their stay in Singapore, thus helping the country’s economy.

In 2017, total tourist receipts added another 3.9% to significant S$26.8 billion. This was mostly caused by the growth in the number of visitors. Tourists from all top10 markets were more active in 2017, so Singapore enjoyed an increased number of guests from China, the United States, the United Kingdom, and Korea. The total number of arrivals grew by 6.2% to 17.4 million. If analyzing on a source country basis, tourists from the UK and the US had the largest year-on-year increase in spending - 24% and 22% respectively. Chinese visitors spent 10% more in Singapore last year.

Tourists spend the most money on the following categories – Sightseeing, Entertainment, and Gaming. Singapore also attracts more high spending tourists who enjoy some high-end shopping. At the same time, tourists from Japan, Indonesia, and India spent less in the city-state. That is particularly true about business visitors and attendees of various meetings and exhibitions. However, business travelers from India and Japan generally spent less in 2017.

In terms of International Visitor Arrivals, the vast majority of top15 source markets for Singapore showed growth in 2017. That is particularly true about China, Philippines, the UK, the US, India, Vietnam, and Germany. The top three source markets for the tourism sector of Singapore are the following: China, India, and Indonesia. The number of tourists from Vietnam added 13% last year, making the country a top10 source market for the first time. Thailand and Hong Kong performed weaker as source markets, posting declines.

Singapore hotels also enjoyed higher results in 2017. Their room revenue added 3.9% to S$3.7 billion. The occupancy added 1.5% despite a significant growth hotel supply by 5% to 67,084 rooms. In December 2017, as many as 420 hotels operated in Singapore. Twenty two of them opened last year. Singapore is also a popular cruise stop, so there’s no wonder why the throughput of passengers added 17% to 1.38 million, setting a new record. According to forecasts, the growth of tourist spending will add something between 1% and 3% this year. The total number of international visits will be in the range of 17.6 to 18.1 million.


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