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China-Singapore visa exemption boosts February visitor arrivals
The percentage of arrivals from China rose from 65.9% to 96.3%.
Visitor arrivals in Singapore increased to 95.8% of pre-pandemic levels in February, led by travellers from China.
Arrivals from China increased to 96.3% from 65.9%.
Nomura attributed the increase to the visa exemption between China and Singapore, which kickstarted on 9 February, and the effects of the Chinese New Year and leap year.
Arrivals from other countries also increased slightly to 95.7% of pre-pandemic levels from 94.0%.
With improvements in tourism, Nomura's outlook for Singapore's growth remains positive.
"We reiterate our 2024 GDP growth forecast of 3.0%, which is above consensus’ 2.4% and at the top end of the official forecast range of 1-3%," Nomura added.
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