Singapore's 2023 Tourism Receipts Surpassed Forecast
Photo Credit: Marina Bay Sands Singapore in the early evening. Wikimedia / Someformofhuman
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The Singapore Tourism Board said tourism receipts in 2023 surpassed their forecast. This was driven by key markets such as Indonesia, China and Malaysia, the top three contributors in 2023 with 2.3 million, 1.4 million and 1.1 million visitors respectively.
STR reported China hotel data for the week ended January 27. China Hotel RevPAR was down -11.2% year over year. It faced an extremely tough comparison as last year was up against a +177.8% comp. Chinese New Year 2023 was January 22nd.
The Tongcheng Research Institute produced a study showing some 63.9% of Chinese respondents to a survey have plans for outbound travel, with over 40% planning to complete more than two outbound trips in 2024. For Chinese New Year, they will be staying close to home with only 13.5% saying they are planning outbound travel during the upcoming Chinese New Year. 21.6% said they are considering outbound travel for the summer vacation and 13.7% are considering it for China’s National Day Golden Week in October. 46.8% said they are avoiding public holiday periods for outbound travel.
The Singapore Tourism Board said tourism receipts in 2023 surpassed their forecast. This was driven by key markets such as Indonesia, China and Malaysia, t
