Arrivals from China and the ASEAN region moderated.
This chart from Maybank shows that growth of visitor arrivals in Singapore slowed down to 2% in January-February 2019 from 2.4% in Q4 2018 and 7.1% in Q3 2018.
The weak figures were driven by the moderating visits from China and ASEAN, which remained flat. Weak ASEAN visits were dragged down by declines from Indonesia, Thailand and Vietnam arrivals.
On the other hand, overall arrivals from Americas and Europe grew 2% and tourist visits from the UK, the largest component of European arrivals, grew 11.3% YoY.
“Our 2019 outlook for overall visitor arrival growth is c.3% and Changi passenger movement c.4% YoY,” Maybank said in a report.
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