Chart of the Day: Check out Singapore's tourist mix
ASEAN represents 40% and visitors from China account for 17%.
This chart from DBS shows the tourist composition in Singapore, with visitors from ASEAN accounting for 40% of arrivals into the city state. Visitors from North Asia and Europe account for 7% each and those hailing from North America represent 5%.
China alone represents 17% of Singapore's tourist mix, which bodes well for the city's hospitality-related businesses - such as Genting and Jumbo - that can cash in on increasing unrest in Hong Kong pushing Mainland visitors to shun the city in favour of more stable destinations, according to analyst Derek Tan.
Assuming a scenario where 30% of Chinese outbound tourists are diverted from Hong Kong, Singapore visitor arrivals may rise 3.6% as key tourism markets in the region such as Macau, Thailand, Japan, South Korea and Vietnam also benefit, according to DBS. In a scenario where 50% of visitors are diverted from Hong Kong, tourist numbers in Singapore will receive a 6% boost.
"Singapore might doubly benefit," Tan said in a report. "We believe that Singapore stands tall to attract visitors apart from China, and to include the likes of Australia, India, Japan, South Korea, Europe and USA which may choose to come to Singapore instead.
In the first half of the year, the number of Chinese outbound tourists hit nearly 89 million of which Singapore accounted for 2%, according to DBS which cited data from Bloomberg.
"Feedback on the ground already points to a stronger 3Q19 and occupancy and room rates could continue to trend up at a higher momentum if Singapore enjoys some of the spillover of tourist arrivals," Tan added.
RevPAR hit a five-year high to $203.6 in July, according to an eariler report from Jefferies.