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Chart of the Day: Chinese tourists to flock back after shunning Singapore in 2014

Singapore Business Review

The STB is promoting the city as a mono-destination.

Despite the slow market, 2015 will be more positive than the year before on the back of Singapore’s 50th anniversary celebrations, stabilisation of the regional currencies and a recovering global economy.

According to a report by CIMB, Chinese tourist arrivals are expected to grow by high-single-digit to double-digit in 2015,mainly due to 1) the low base in 2014, and 2) promotional activities by Singapore Tourism Board (STB) to woo the Chinese to visit Singapore on their own as a mono-destination.

CIMB says that in view of these, coupled with stronger cruise business expectations and a full year of MICE events lined up, hotel players could post earnings surprises in 2015 as they benefit from both higher corporate spending and longer length of stay.

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