Singapore expects slower rise in visitors this year

Singapore expects overseas visitor arrivals to grow at a slower pace of between 2.8 and 7.6 per cent this year, hurt by a tight domestic labour market that has made it harder for firms to expand, the Singapore Tourism Board said on Wednesday.

The city-state hopes to attract 14.8 to 15.5 million visitors this year, which is an increase from last year's estimated 14.4 million, STB said.

STB is targeting tourism receipts of S$23.5 billion to S$24.5 billion this year, up from last year's estimate of S$23 billion.

Visitor arrivals rose by 9.1 per cent in 2012 over 2011, while tourism receipts grew around 3 per cent to S$23 billion.

Singapore is becoming a playground for Asia's rich, helped by the opening of two multi-billion-dollar casino-resorts as well as high-end clubs and restaurants helmed by Michelin-starred chefs.

Visitor arrivals grew 13.1 per cent in 2011. In 2010, the year Singapore's two casinos opened, visitor arrivals soared by 20.2 per cent.

Source: http://www.relax.com.sg/relax/news/1670588/Singapore_expects_slower_rise_in_visitors_this_year.html

Posted On : 27 March,2013