It could only hit 16.5m-16.9m on lack of major events.
Tourist arrival into Singapore had a good run of 11% yoy growth up to Aug 16, and likely to hit16.2m-16.5m tourists, said CIMB.
Going into 2017, the research house expects a moderate growth of 2-3% or 16.5m-16.9m tourists on a high base and fewer major events such as the Singapore Airshow.
Here's more from CIMB:
The mom tourist arrival growth rate has started to taper from an average of 13% in 1H16 to the single digits of c. 5% in Jul-Aug 16.
The number of Chinese tourists visiting Singapore is still growing at a healthy double-digit pace (18% yoy in Aug 16) to reach a record c.315,500 in Aug 16.
Efforts by the Singapore Tourism Board to woo first-time visitors from second and third-tier cities in China will continue to yield harvest, in our view.
Changi Airport’s Terminal 4 is scheduled to be up and running by 2H17, adding another 16m passengers’ capacity or a 24% increase from the existing 66m.
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