Singapore’s tourist arrivals to slow down to 6% in 2013

Blame it on these 3 possible culprits.

According to UOB Kay Hian, visitor arrivals to Singapore grew at a steady pace in 2012 despite some slowdown in corporate travel, with arrivals up 11% yoy in 1H12. It expects visitor arrivals to comfortably meet its full-year 2012 growth forecast of 8%. For 2013, UOB Kay Hian expects visitor arrivals to continue on its growth track albeit at a slower pace of 6%. 

Here's more:

Key growth drivers ahead include the opening of River Safari at Mandai, Asia’s first river-themed wildlife park, and other attractions (SEA Aquarium and Marine Life Park in RWS), while risks to our assumptions are slower business travel growth, increased competition from neighbouring countries and a strong Singapore dollar. 

Visitor arrivals from the five core markets (Indonesia, Malaysia, China, Australia and India) saw strong double-digit growth (13%) in 1H12. The strong growth was backed by the growing prominence of low-cost carriers (LCC) combined with better affluence in these countries.

The core markets accounted for about 55% of total arrivals in 1H12, up from 50% in 2005. The proportion is expected to increase by 1-2ppt in the next three years as the growing LCC market opens up new routes, making intra-regional travel more affordable and easier. Other key growth markets to watch out for include Taiwan (+27% yoy), Japan (+21% yoy) and Vietnam (+17% yoy).
 



More From Singapore Business Review
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3463+0.0048+0.36%
    USDSGD=X
    1.4708-0.0024-0.16%
    EURSGD=X
    2.0745-0.0008-0.04%
    GBPSGD=X
    91.0548+0.451+0.50%
    SGDJPY=X
    5.7585-0.0203-0.35%
    SGDHKD=X
    2.6954+0.0014+0.05%
    SGDMYR=X
    9,815.6826-12.877-0.13%
    SGDIDR=X
    4.6079-0.0158-0.34%
    SGDCNY=X
    1.0505+0.0009+0.08%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,194.80-9.20-0.76%
    GCM15.CMX
    16.80-0.25-1.47%
    SIN15.CMX
    71.25-0.60-0.84%
    ^XAU
    2.80-0.02-0.57%
    HGN15.CMX
    59.42-0.30-0.50%
    CLN15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.56+0.05
    ^FVX
    2.21+0.03
    ^TNX
    2.99+0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.330.00-1.49%
    AFC.SI
    0.193+0.012+6.63%
    5OU.SI
    0.290.000.00%
    5WA.SI
    0.172+0.004+2.38%
    F13.SI
    0.27+0.01+3.85%
    B0Z.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.25+0.06+31.58%
    41H.SI
    0.26+0.06+30.00%
    AYP.SI
    0.138+0.019+15.97%
    5IF.SI
    0.15+0.02+14.50%
    5TJ.SI
    0.915+0.110+13.66%
    NC9.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.20-0.05-20.00%
    5PD.SI
    0.135-0.015-10.00%
    5OY.SI
    0.185-0.020-9.76%
    41O.SI
    0.56-0.06-9.68%
    AXK.SI
    0.25-0.03-9.09%
    L02.SI