AGL 37.89 Decreased By ▼ -0.26 (-0.68%)
AIRLINK 124.10 Increased By ▲ 2.59 (2.13%)
BOP 5.67 Decreased By ▼ -0.18 (-3.08%)
CNERGY 3.75 No Change ▼ 0.00 (0%)
DCL 8.55 Increased By ▲ 0.15 (1.79%)
DFML 40.48 Decreased By ▼ -0.41 (-1%)
DGKC 87.10 Increased By ▲ 2.50 (2.96%)
FCCL 33.98 Increased By ▲ 1.28 (3.91%)
FFBL 66.01 Increased By ▲ 0.51 (0.78%)
FFL 10.20 Increased By ▲ 0.15 (1.49%)
HUBC 104.45 Increased By ▲ 0.65 (0.63%)
HUMNL 13.45 Increased By ▲ 0.20 (1.51%)
KEL 4.78 Increased By ▲ 0.35 (7.9%)
KOSM 6.84 Decreased By ▼ -0.25 (-3.53%)
MLCF 38.84 Increased By ▲ 1.34 (3.57%)
NBP 60.35 Increased By ▲ 0.10 (0.17%)
OGDC 179.65 Increased By ▲ 7.40 (4.3%)
PAEL 24.97 Increased By ▲ 0.17 (0.69%)
PIBTL 5.71 Increased By ▲ 0.01 (0.18%)
PPL 153.00 Increased By ▲ 11.31 (7.98%)
PRL 22.79 Increased By ▲ 0.07 (0.31%)
PTC 14.91 Increased By ▲ 0.17 (1.15%)
SEARL 66.85 Increased By ▲ 2.29 (3.55%)
TELE 7.01 Decreased By ▼ -0.13 (-1.82%)
TOMCL 35.70 Increased By ▲ 0.20 (0.56%)
TPLP 7.32 Increased By ▲ 0.03 (0.41%)
TREET 13.99 Decreased By ▼ -0.21 (-1.48%)
TRG 50.95 Decreased By ▼ -0.80 (-1.55%)
UNITY 26.40 Decreased By ▼ -0.20 (-0.75%)
WTL 1.23 Increased By ▲ 0.01 (0.82%)
BR100 9,717 Increased By 233.5 (2.46%)
BR30 29,237 Increased By 866.2 (3.05%)
KSE100 90,860 Increased By 1893.1 (2.13%)
KSE30 28,458 Increased By 630.4 (2.27%)

Singapore is sticking to its forecast for more than 15 million visitor arrivals this year, encouraged by a spurt in travellers from China and India in July, the head of its tourism board said, despite a subdued first half. The city-state, which is preparing for the eighth edition of its annual Formula One weekend frenzy under a pall of smoke from fires in neighbouring Indonesia, last year posted the first fall in visitor arrivals since 2009 and missed its own estimate.
For 2015, it expects 15.1-15.5 million travellers, or flat to a 3 percent rise. "That's something we are still on target to achieve," Lionel Yeo, chief executive of the Singapore Tourism Board, told Reuters in an interview. "We are somewhat hopeful that we have turned a corner," he said ahead of the marquee race that helps pull in average tourism receipts of S$150 million ($107 million).
July arrivals rose 7.7 percent, but were still down 1.7 percent in the first seven months. Singapore, named Lonely Planet's 2015 top travel destination, has over the years built itself into a tourist destination famous for its glitzy malls, street food, casinos and the night street race. While tumbling local currencies have hit vacationers from Indonesia, its biggest market, and Malaysia, efforts to promote Singapore in smaller Indian and Chinese cities are paying off.
Chinese travellers picked up pace after falling last year for the first time since two casinos were opened in Singapore in 2010. Visitor arrivals have risen about 56 percent from 2009-end to last year. Yeo said Singapore was comfortable with a moderate annual growth rate of 3-4 percent over the medium term. Tourism contributes 4 percent to Singapore's economic output, which is forecast by economists to see the weakest expansion since 2009. Falling tourism has hurt January-July room rates, which dipped 5.5 percent.

Copyright Reuters, 2015

Comments

Comments are closed.