Tourism receipts plunged 39% to $4b in Q1
This was attributed to the decline across all components.
Tourism receipts crashed 39% YoY in Q1 to $4b amidst the pandemic, the Singapore Tourism Board (STB) revealed. International visitor arrivals (IVA) also fell 43.2% YoY to 2.7 million visitors over the same period.
Data from the agency revealed that the decline in tourism receipts was led by the 52% YoY drop in shopping in Q1, 41% YoY slip in sightseeing, entertainment, and gaming (SEG), and 36% YoY contraction in food and beverages (F&B).
On the other hand, tourism receipts for other components, which include expenditure on airfares, port taxes, local transportation, business, medical, education, and transfer visitors fell 34% YoY whilst accommodation dipped 31% over the same period.
The agency also revealed that the top three tourism receipt-generating markets contributed to a total of 37%, with China leading the generation at $471m. Indonesia and India followed with $421m and $238m, respectively,
For gazetted hotel rooms, revenue plunged 30.9% YoY at an estimated $687.3m. Average occupancy rate dropped by 27.2 percentage points (ppt) from the previous year with 58.6% in Q1. Meanwhile, average room rate slipped 1.2% YoY to $215, whilst revenue per available room (RevPAR) contracted 32.5% YoY to $126 over the same period.