Tourism has always been a major industry and economic contributor for Singapore. The last two years witnessed substantial growth in tourism after a few years of stagnation. A record number of Chinese tourists visited Singapore throughout 2017. There was also an unprecedented amount of money spent by Chinese tourists, thereby having a direct impact on the economy. As Singapore consolidates the growth in its gross domestic product for the third consecutive year, there is more good news on the tourism front. Singapore has been able to sustain its growth and has actually expanded its tourism sector further in the first six months of 2018.
The total number of tourists in Singapore for the first half of this year marks a growth of 7.6% compared to last year. The count stands at over nine million as of now. Almost a quarter of all these tourists visiting the island nation were from China. If the figure for greater China is considered then there has been a growth of 10%.
GGRAsia published a report in early August and cited figures made available by Singapore Tourism Board. Around two million and two hundred thousand people from greater China visited the island in the first six months, marking ten percent year on year growth. One of the more celebrated properties in the country, Resorts World Sentosa which is an integrated resort and casino, along with Marina Bay Sands recorded almost an eleven and a half percent of growth in footfall of tourisms from China.
China is not the only country contributing to the growth of tourism in Singapore. Taiwan, Malaysia and India are also substantial contributors. As per the official figures, around seventeen percent more Indians visited Singapore in the first half of 2018. The number of Indians who travelled to the city state is pegged at close to eight hundred thousand. This marks an eight percent half yearly growth and almost seventeen percent year on year growth if the trend persists for the rest of the year. Four percent more Malaysians visited Singapore in these six months, totaling to almost six hundred thousand. Various other Asian countries also had substantial contributions. More than five million tourists who visited Singapore in the first six months were from within Asia.
As per the report published by GGRAsia, Hong Kong contributed a little over a percentage point in the count of tourists who visited Singapore. Taiwan witnessed a swell of around eight percent, accounting for almost a quarter of a million visitors, up from just two hundred thousand last year. The sustained growth in tourism is even more encouraging when one considers the increased spending among the tourists. The casino market within the tourism sector is witnessing phenomenal growth. Around a million and seven hundred thousand tourisms from China visited the integrated casino resorts. This will clearly reflect on the spending habits of tourists. Genting Singapore Limited that operates Resorts World Sentosa noted a growth in revenue of around four and a half percent compared to the turnover in the first half of last year.
About the Author
Morris Edwards is a content writer at CompanyRegistrationinSingapore.com.sg, he writes different topics like Singapore Tourism Board signs MOU with Alipay to enhance Chinese tourists’ experience, Chinese Tourists Are Choosing Singapore as Their Preferred Destination and all topics related to Singapore Business and Economy. For more info about Singapore Company Registration and Business Setup visit our website.
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