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ECONOMY, HOTELS & TOURISM | Staff Reporter, Singapore

Tourism receipts dipped 0.5% to $6.7b in Q1

The decline was led by the 16% YoY decrease to $589m in food and beverage.

Tourism receipts slipped 0.5% YoY in Q1 to $6.7b amidst decrease in receipts in most segments, the Singapore Tourism Board (STB) revealed. This was despite the 7.3% YoY rise international visitor arrivals (IVA) for the quarter.

Data from the agency revealed that the declines in tourism receipts were led by the 16% YoY decrease to $589m in food and beverage. Accommodation (-13%) and shopping receipts(-9%) also slipped to $1.33m and $1.47m, respectively.

On the other hand, tourism receipts for sightseeing, entertainment, and gaming grew 6% to $1.50m in Q1. Other tourism receipt components including airfares on Singapore-based carriers, port taxes, local transportation, business, medical, education, and transit visitors jumped 22% to $1.80m.

The agency also revealed that China led the generation of the tourism receipts with $1b in Q1. India and Indonesia followed with tourism receipts totalling $700m and $300m, respectively.

For gazetted hotel rooms, revenue grew 8.5% to $1b, STB noted.

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