The Singapore Tourism Board (STB) is confident the tourism sector will continue recovering in 2022.
Singapore.- The Singapore Tourism Board (STB) hopes 2022 will continue the path to recovery that started in the last three months of 2021 when the country saw a rise in foreign tourist arrivals. According to the STB, 330,000 foreign tourists arrived in Singapore in 2021, generating tourism receipts of around S$1.9bn.
The figure is still down when compared to 2020, due to a strong tourism performance in the first two months of 2020, before the Covid-19 pandemic. However, authorities reported tourist arrivals were up 221 per cent during the last quarter of 2021 when compared to the previous year, mainly due to the reopening of borders.
According to STB, the largest source markets were China (88,000), India (54,000) and Indonesia (33,000). STB also mentioned the cruise industry also saw a recovery as more than 400,000 domestic passengers were part of the cruise sailings in 2021.
Keith Tan, chief executive of the Singapore Tourism Board, told Asian Gaming Brief: “While it will take time for tourism numbers to return to pre-pandemic levels, we are encouraged by the resilience of our tourism businesses, and their commitment to preserving good jobs, transform their businesses and invest in new products and experiences.”
Singapore casino revenue may reach 75% of pre-pandemic levels in 2022
A report released by Fitch Ratings has forecast that Singapore’s casino revenue may reach around 75 per cent of 2019 levels in 2022.
Fitch said the living with Covid-19 policy and relaxation of travel restrictions will be key factors in the recovery expectations in Singapore and Malaysia.