Chart of the Day: Tourists could account for a fifth of retail sales by end-2019

Tourist expenditure on shopping grew at a 10-year CAGR of 3.4%.

This chart from UOB Kay Hian shows spending by tourists over the past 18 years and projects that the sector will account for 21.5% of total retail sales by end-2019.

Also read: Visitor arrivals growth slows to 2% in January-February

The headline figure is higher than 16.7% seen in 2000, but is lower than its peak of 23.6% in 2016.

Furthermore, tourist expenditure on shopping and F&B grew at a 10-year compound annual growth rate (CAGR) of 3.4% and 3.1% respectively, which was faster than the 1.4% for retail sales excluding motor vehicles.

Also read: Retail sales slipped 10% in February 2019 to $3.3b

The report noted that tourists are becoming a bigger driver of retail sales relative to domestic consumption.

This will be further driven by the expanding number of tourist visits as well. UOB Kay Hian stated that visitor arrivals has consistently surpassed population growth, with the former growing at a CAGR of 6.2% over the past ten years compared to the latter’s 1.5% growth.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia