Welcome to Singapore: Tourist arrival reach a robust 6.4m in H1 2011

This is more than half the government’s target of at least 12 million visitors for this year.

According to Savills Research Singapore, this made retail spending jump 8.3% YoY in May.

Here’s more from Savills Research:

Despite mounting economic uncertainties, the number of visitors to Singapore continued to beat records. Singapore welcomed 3.2 million tourists in Q2/2011, 14% more than in the same period last year. This brings the total number of visitors for 1H/2011 to 6.4 million, more than half the government’s target of at least 12 million visitors for this year.

On the back of sustained job security, rising wages and robust tourist arrivals, retail spending remained strong this quarter, with retail sales, excluding motor vehicles, jumping 10.5% year-on-year in April and 8.3% in May.

Although the unemployment rate crept up slightly to 2.1%, the labour market remained tight this quarter. The watch and jewellery sector was the top performing category in retail sales for both months. June retail sales are expected to remain ﬁ rm as Singapore hosted its annual Great Singapore Sale (GSS).

A survey by Master Card showed that cardholders splurged S$830.7 million in the ﬁ rst month of GSS, some 49% more than in the same period last year.

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