Tourists splurged $18.8bln on shopping in Singapore

Tourism receipts exceeded the $17.5-18.5 billion forecast, according to OCBC.

The receipts reached an estimated $18.8 billion, mostly from shopping, sightseeing and accommodation.

In a statement, STB said, 2010 visitor arrival rose 20% y-o-y to a record 11.6 million, in line with forecasts of 11.5-12.5 million. Visitors from Indonesia, China, Australia, Malaysia and India accounted for more than 50% of the 2010 arrivals.

A total of 2,305,000 visitors came from Indonesia while a total of 1,171,000 visitors came from China.

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