Singapore's tourism receipts inched by a tad 3.1% higher

Outpaced by visitor arrival growth.

According to Colliers International, consumer restraint also extended to tourists. While visitor arrivals to Singapore was strong in 2012 chalking up a record 14.4 million, the pace of growth for tourism receipts was not as impressive.

Visitor arrivals for 2012 drew close to the upper limit of the Government’s projection of 13.5 to 14.5 million, while tourism receipts came in at the lower range of the Government’s projection of $23 to $24 billion at $23 billion.

"In other words, while visitor arrivals increased by 9.1% from 2011, it is estimated that tourism receipts grew by a more modest 3.1% during the same period," Colliers International said.

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