Tourism receipts grew 12.8% to $7.1b in Q4 2019

The growth was led by the 18% YoY increase to $2b in other components.

Tourism receipts increased by 12.8% YoY in Q4 2019 to $7.1b as expenditure grew for most components, the Singapore Tourism Board (STB) revealed. International visitor arrivals (IVA) also grew by 6.9% YoY to 4.8m visitors over the same period.

Data from the agency revealed that the growth in tourism receipts was led by the 18% YoY jump to $2b in other components, which include expenditure on airfares, port taxes, local transportation, business, medical, education, and transfer visitors.

On the other hand, tourism receipts for sightseeing, entertainment, and gaming climbed 15% to $1.6b. Accommodations (13%) and shopping (9%) expanded to $1.44b and $1.46b, respectively, whilst food and beverage services stayed flat at $649m.

The agency also revealed that the top three tourism receipt-generating markets contributed to a total of 38%, with China leading the generation at $900m. Indonesia and India followed with $810m and $399m, respectively,

For gazetted hotel rooms, revenue grew 11% YoY at an estimated $1.1b. Average occupancy rate edged up 2.3 percentage points (ppt) from the previous year with 86.3% in Q4 2019. Meanwhile, average room rate improved 3.7% YoY to $228, whilst revenue per available room rose 6.5% YoY to $197 over the same period.

For the whole year, the tourism receipts reached a growth of 2.8% YoY with $27.7b, with IVA increasing by 3.3% YoY to 19.1m visitors.