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Recession hits tourism in Singapore
Source: Agencies |
February 28, 2009, Saturday
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Print Edition
SINGAPORE tourism fell 13 percent in January as the global economic slowdown kept visitors at home -- another blow to a city-state deep in recession.
Tourist arrivals dropped to 771,000 in January from 855,000 in the same month a year earlier, the Singapore Tourism Board said yesterday. Hotel revenue fell 30 percent last month and the occupancy rate fell to 67 percent, down from 85 percent in January 2008, the board said.
Singapore's tourism industry is being hit hard along with the country's manufacturing and financial sectors.
The government expects the economy to contract as much as 5 percent this year after gross domestic product shrank a seasonally adjusted, annualized 16.4 percent in the fourth quarter from the previous quarter.
Tourist income will likely fall to between S$12 billion (US$7.8 billion) and S$12.5 billion this year from S$14.8 billion last year, the board said earlier this month.
Tourist arrivals dropped to 771,000 in January from 855,000 in the same month a year earlier, the Singapore Tourism Board said yesterday. Hotel revenue fell 30 percent last month and the occupancy rate fell to 67 percent, down from 85 percent in January 2008, the board said.
Singapore's tourism industry is being hit hard along with the country's manufacturing and financial sectors.
The government expects the economy to contract as much as 5 percent this year after gross domestic product shrank a seasonally adjusted, annualized 16.4 percent in the fourth quarter from the previous quarter.
Tourist income will likely fall to between S$12 billion (US$7.8 billion) and S$12.5 billion this year from S$14.8 billion last year, the board said earlier this month.
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