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
    1.3446-0.0002-0.02%
    USDSGD=X
    1.5309+0.0041+0.27%
    EURSGD=X
    1.9692+0.0052+0.27%
    GBPSGD=X
    79.8042-0.5765-0.72%
    SGDJPY=X
    5.7693+0.0008+0.01%
    SGDHKD=X
    2.9044+0.0164+0.57%
    SGDMYR=X
    9,828.6406+17.1328+0.17%
    SGDIDR=X
    4.8158+0.0007+0.02%
    SGDCNY=X
    1.0282+0.0021+0.20%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,277.00+10.60+0.84%
    GCM16.CMX
    17.82+0.23+1.32%
    SIN16.CMX
    86.90+3.46+4.15%
    ^XAU
    2.25+0.02+0.83%
    HGN16.CMX
    46.02-0.01-0.02%
    CLM16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.30-0.04
    ^FVX
    1.84-0.02
    ^TNX
    2.690.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.75-0.01-1.32%
    Y92.SI
    0.4550.0000.00%
    N21.SI
    0.099-0.004-3.88%
    5WH.SI
    1.500.000.00%
    M04.SI
    0.400.00+1.27%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.125+0.015+13.64%
    AZG.SI
    0.91+0.09+10.30%
    A23.SI
    0.365+0.025+7.35%
    BLU.SI
    0.119+0.009+8.18%
    42Z.SI
    0.151+0.011+7.86%
    M14.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.36-0.25-40.98%
    BQP.SI
    0.101-0.008-7.34%
    UV1.SI
    0.345-0.025-6.76%
    BBP.SI
    0.13-0.01-6.47%
    B69.SI
    0.96-0.06-5.42%
    AYN.SI