Chart of the Day: Find out why tourism receipts are up

STB cited two key factors driving tourism in Asia.

In the annual report of the Singapore Tourism Board, Chairman Chew Choon Seng said: “For 2011, outbound travel from Asia recorded a six per cent increase, on top of the fourteen per cent growth in 2010. Two key factors accounted for this performance: a growing middle-class with greater disposable income and the increasing affordability of air travel within Asia.”

Here’s more from the STB Chairman:

Confidence in Singapore’s tourism sector remains buoyant. In 2011, the sector registered S$22.3 billion in tourism receipts and saw 13.2 million visitor arrivals, increases of 18 and 13 per cent respectively from 2010. This healthy growth demonstrates Singapore’s transformation into one of Asia’s top business and leisure destinations.

At the same time, all of us at STB recognise that sustaining this momentum in the coming years will be challenging, given the uncertainties around the world, keen competition from other destinations, and not least, Singapore’s own limitations in land area and manpower resources.

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