Strong tourist arrivals dispel worries of slow growth in EU

Malls in Singapore then enjoy better sales as 40% of Wisma Atria’s sales are derived from tourism receipts.

According to DBS Vickers, the tourism sector’s performance YTD continues to shine, despite initial worries of slowing growth from Europe impacting demand for travel. In 1Q12, total visitor arrivals came in at a robust 3.7m, up 15% y-o-y. Rising tourist arrivals, coupled with the traditionally high 2H season should translate to better sales for Starhill Global Reit’s two prime retail malls - Wisma Atria and Ngee Ann City - located along Orchard Road. Up to 40% of Wisma Atria’s sales are derived from tourism receipts.

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