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...
South Shore Holdings, owner of Macau's The 13, has said it won't be able to publish its financial results for 2020 according to the deadline set by the Hong Kong Stock Exchange and as a result its shares will be suspended from trading from July 2 until the release of the figures.
For this edition of our magazine, we focus on Southeast Asia, with a particular look at the Philippines. The country’s casino industry has been among the hardest hit in Asia, with the integrated resorts in Manila’s Entertainment City having remained mostly closed to the general public since the beginning of the crisis last year.
The world is bouncing back, or at least coming to grips with the fact that going forward not much will be the same as before. Commendably, this industry quickly understood the need to adapt to a new normal, and that the days of targeting the low hanging fruit of the VIP sector are gone.