New Singapore Hotel Transforms Decommissioned Buses into Luxury Suites
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- The Philippines is close to reaching its annual goal of 4.8 million tourist arrivals, with nearly 4.1 million arrivals in the first 10 months of 2023. South Korea remains the top source of inbound tourists.
- Hotel prices in Malaysia may increase by 30% due to a rise in the Sales and Services Tax, excluding food and beverages or telecommunications. Consumers are expected to pay higher room rates.
- Sri Lanka anticipates its best tourism year in 2024, with exceeding arrival and revenue targets for this year. Plans to accommodate higher arrivals include expanding accommodation in Colombo and other areas.
The Philippines Department of Tourism said foreign arrivals to the Philippines reached nearly 4.1 million in the first 10 months of 2023, approaching the government’s full year goal of 4.8 million arrivals. Adding overseas Filipino arrivals, the country has recorded more almost 4.45 million arrivals so far. South Korea continues to be the top inbound tourist source, with nearly 1.2 million visitor arrivals recorded in the 10 months. This figure represents 26.3% of the country’s total arrivals. The U.S. was second, responsible for 16.7% of arrivals.
Christina Toh, President of the Malaysian Association of Hotels, indicated hoteliers in the country may raise the prices of rooms by 30%, owing to an increase in the Sales and Services Tax next year. The SST is expected to increase from 6% to 8% next year but it will not include food and beverages or telecommunications. Toh believes that regardless of how hotels respond, consumers will be paying higher room rates.