Chart of the Day: Passenger movements drop 71% YoY in March
This is due to border closures and the circuit breaker period.
This chart from CBRE shows that passenger movements within Changi Airport fell by 71% YoY to a mere 1.65 million passengers in March. This comes as measures including the closure of Singapore’s border to short-term visitors and the circuit breaker period have been initiated to contain the pandemic.
In addition, there were barely 240,000 international visitors to Singapore in the same month as reported by Singapore Tourism Board (STB). This represents a 85% YoY decline from 2019 and one of the lowest levels recorded since the SARS hit Singapore in 2003.
CBRE notes that the implementation of control measures has caused heightened uncertainty in the tourism and hospitality industry causing the number of tourists to decline.