{"id":777001970,"date":"2023-02-01T12:05:28","date_gmt":"2023-02-01T15:05:28","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777001970"},"modified":"2026-04-23T01:02:47","modified_gmt":"2026-04-23T04:02:47","slug":"singapore-irs-chinese-visitors-wont-reach-2019-levels-until-next-year-analysts-say","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/singapore-irs-chinese-visitors-wont-reach-2019-levels-until-next-year-analysts-say","title":{"rendered":"Singapore IRs: Chinese visitors won&#8217;t reach 2019 levels until next year, analysts say"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Analysts at Maybank Investment Bank think the number of tourists will remain limited this year.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">Singapore.- A report from <strong>Maybank Investment Bank <\/strong>suggests that mainland Chinese tourists visiting Singapore are likely to have a &#8220;positive&#8221; effect on the city-state&#8217;s two integrated resorts (IRs) this year but that numbers won&#8217;t reach pre-pandemic levels pre-pandemic levels until 2024.&nbsp;Chinese visitors contributed around 25 per cent of gross gaming revenue (GGR) in 2019.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The spending of Chinese visitors could also be impacted by factors such as declining property values in mainland China and a general slowdown in the country&#8217;s economy, including manufacturing. The high cost of airfares and room rates in Singapore will also limit their gaming budget.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The<strong> Singapore Tourism Board (STB)&nbsp;<\/strong>expects international visitor arrivals to reach&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/singapore-may-welcome-up-to-14m-visitors-in-2023-government-say\" target=\"_blank\">12 to 14 million<\/a> in 2023, bringing in approximately SGD18.00bn (US$13.62bn) to SGD21.00bn in tourism receipts \u2013 around two-thirds to three-quarters of 2019 levels.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It said that to support tourism recovery, \u201cSTB will front load SGD110m of the SGD500m set aside for Singapore\u2019s tourism recovery to ramp up business and leisure events over these two years.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In 2022,&nbsp;<strong>the country\u2019s international visitor arrivals reached 6.3 million<\/strong>, exceeding its initial forecast of between 4 and 6 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Analysts at Maybank Investment Bank think the number of tourists will remain limited this year.<\/p>\n","protected":false},"author":176,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Maybank Investment Bank analysts project a positive, yet limited, impact from mainland Chinese tourists on Singapore's integrated resorts (IRs) in 2023, with pre-pandemic visitation levels not expected until 2024. Factors such as China's economic slowdown, declining property values, and high travel costs to Singapore are anticipated to constrain GGR contributions from this key demographic. The Singapore Tourism Board (STB) forecasts international visitor arrivals to reach 12-14 million in 2023, supported by a SGD110m front-loaded investment from a SGD500m tourism recovery fund.","focusai_entities":"Maybank Investment Bank, Singapore Tourism Board","focusai_location":"Singapore, China","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.9), investor_analyst (0.95), journalist_researcher (0.85)","focusai_suggestions":[{"label":"IR GGR Diversification?","query":"What specific marketing and operational adjustments are Singaporean IRs implementing to mitigate the impact of reduced Chinese high-roller visitation and diversify their GGR streams?"},{"label":"EBITDA Impact Analysis?","query":"Given the projected GGR contribution from Chinese visitors, what is the anticipated EBITDA impact for Singapore's integrated resorts if pre-pandemic visitation levels are not achieved until 2024?"}],"footnotes":""},"categories":[157,16333],"tags":[23632,23907],"class_list":["post-777001970","post","type-post","status-publish","format-standard","hentry","category-business-news","category-south-east-asia-news","tag-integrated-resorts","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777001970","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777001970"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777001970\/revisions"}],"predecessor-version":[{"id":777001991,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777001970\/revisions\/777001991"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777001970"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777001970"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777001970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}