Tourism spending points to promising trend

Singapore generic

Singapore tourism arrivals are up just over 7 percent in the year to July, but a closer look at the detailed breakdown provided for Q1 shows that for the second consecutive quarter, visitors spent more on gaming, sightseeing and entertainment than in its glitzy shopping malls. Singapore welcomed 4.6 million visitors in the first quarter of 2018, however despite a rise in overall numbers, tourist spending fell half a percent to S$6.7 billion (US$4.9 billion). That was due to a 9 percent drop in spending on shopping; a 13 percent decline in accommodation and a 16 percent fall in F&B. There was however, an increase in spending on sightseeing, entertainment and gaming – increasing 6 percent year-on-year to S$1.5 billion. That adds to a 2 percent gain seen in spending in the sector in the fourth quarter of the previous year, marking just the third time in the prior eight quarters when...

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