Fearless forecast: Singapore tourism growth to be halved in next 10 years

Tourism receipts to crash to 4-6%.

According to a report by OCBC citing minister Iswaran, Singapore tourism growth is likely to halve over the next 10 years to 3-4% yoy (previously 6.6% compounded annual rate for 2002-2012) and tourism receipts to 4-6% (previously 10% for 2002-2012) due to keen regional competition and the tight domestic labor market.

"Today’s Mar CPI inflation is expected at +3.8% yoy (-0.2% mom), with core inflation at +1.8% yoy, versus +4.9% yoy (+1.0% mom) in Feb, due to the correction in COE premiums," OCBC said.

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