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
    1.3700-0.0001-0.01%
    USDSGD=X
    1.4924+0.0007+0.05%
    EURSGD=X
    2.0404+0.0004+0.02%
    GBPSGD=X
    87.0208+0.0381+0.04%
    SGDJPY=X
    5.6598+0.0007+0.01%
    SGDHKD=X
    2.6858+0.0003+0.01%
    SGDMYR=X
    9,542.6260+0.9775+0.01%
    SGDIDR=X
    4.5329+0.0005+0.01%
    SGDCNY=X
    1.0603+0.0007+0.07%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,199.80-6.50-0.54%
    GCJ15.CMX
    17.07-0.17-0.99%
    SIK15.CMX
    67.73-0.66-0.97%
    ^XAU
    2.77-0.05-1.78%
    HGK15.CMX
    48.87-3.00-5.83%
    CLK15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.42-0.06
    ^FVX
    1.95-0.06
    ^TNX
    2.53-0.07
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.435+0.030+7.41%
    E5H.SI
    0.131+0.015+12.93%
    E13.SI
    0.167+0.004+2.45%
    5GB.SI
    0.285-0.005-1.72%
    5WA.SI
    0.945+0.015+1.61%
    N21.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.31+0.08+34.78%
    5PD.SI
    0.131+0.015+12.93%
    E13.SI
    0.255+0.025+10.87%
    D79.SI
    0.39+0.03+9.86%
    D03.SI
    0.435+0.030+7.41%
    E5H.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.135-0.007-4.93%
    K14.SI
    1.862-0.095-4.85%
    O9D.SI
    0.515-0.025-4.63%
    R07.SI
    0.22-0.01-4.35%
    M14.SI
    0.225-0.010-4.26%
    DU4.SI