Monday, September 8, 2014

Singapore Tourism Inflow new report

International arrivals grew by 5% in 2013; a two percentage point decline from 2012. This was attributed to the drop in business travellers as there was a cut in corporate business budgets in general, resulting in fewer business trips. In addition, key source countries like Indonesia and Malaysia displayed sluggish arrival growth as the Singapore currency remained strong. Slower growth in tourism receipts was the next implication of the strong currency exchange rate as the cost of travelling to Singapore became slightly higher. Nonetheless, positive growth recorded was an indication that Singapore's tourism strategy remained relevant and productive. 

Industry Prospects 

Overall inbound arrival is expected to see a value CAGR of 4% at constant 2013 prices, over the forecast period. This is due to the recovery of the global economy from economic slowdown and the array of events contracted in Singapore over the forecast period which will create a boost to inbound arrivals. Some of the major sporting events over the next few years which will attract international tourists' arrivals include, 

Full Report Details at 
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http://www.fastmr.com/prod/872499_tourism_flows_inbound_in_singapore.aspx?afid=303

(UKprwire)

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