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Tourist arrivals are about to hit the bottom this year.
After an extremely uninspiring 2014, Singapore’s hospitality sector might finally be in for a rebound this year.
Data from BNP Paribas show that there are early signs that tourist arrivals and tourist visitor days are nearing bottom, which could potentially benefit the hotels and, to an extent, retail sectors.
“We believe tourist arrivals should improve in 2015, on the back of a low base of 2014, prospects of slower appreciation/weakening of the SGD, and more tourist-drawing events (example, SEA Games in June and celebration of Singapore’s 50th anniversary “SG50”), which could also increase the length of stay for tourists,” the report stated.
After an extremely uninspiring 2014, Singapore’s hospitality sector might finally be in for a rebound this year.
Data from BNP Paribas show that there are early signs that tourist arrivals and tourist visitor days are nearing bottom, which could potentially benefit the hotels and, to an extent, retail sectors.
“We believe tourist arrivals should improve in 2015, on the back of a low base of 2014, prospects of slower appreciation/weakening of the SGD, and more tourist-drawing events (example, SEA Games in June and celebration of Singapore’s 50th anniversary “SG50”), which could also increase the length of stay for tourists,” the report stated.
