Singapore tourism numbers drop
Singapore’s tourism sector recorded a 2.9% growth in visitor arrivals and a 0.2% decline in tourism receipts for the first six months of 2008 as compared to the same period in 2007. This is based on the 5.1 million visitors who arrived here from January to June this year, generating an estimated S$6.5 billion in tourism receipts. However, despite the recent slowdown in the sector’s growth caused by the current slower global economic climate, the Singapore Tourism Board (STB) remains optimistic that the sector will continue to grow in the mid to long term.In the first three months of 2008, visitor arrivals (VA) to Singapore posted a growth of 6.6% compared to the same period last year. However, with the weakening economic climate, VA in April and May 2008 saw a growth of 0.8% against the same months in 2007, while the month of June 2008 recorded a 4.1% decline compared to June last year. Prior to June 2008, Singapore’s tourism sector had achieved 51 consecutive months of year-on-year growth in VA since March 2004. Continue Reading »