Record Spending by Tourists in Singapore over Christmas Season

Global Refund has revealed that Singapore reached a record high in retail spend from tourists during the last Christmas season. In fact, tourist spending over the festive season accounted for 20% of the total tourist spend in Singapore over the entire year of 2006.

The biggest spenders were visitors from Indonesia, China and India, whose average spend on shopping was Sin$1200 during the season that stretched from 11 November 2006 to 2 January 2007.

Figures revealed by Global Refund also showed that tourists parted with close to 10% more money during Christmas than during the Great Singapore Sale – one of the year’s main shopping calendar highlights. Despite its appeal, the Great Singapore Sale drew just over 15% of total tourist expenditure in 2006.

“The record Christmas spend from tourists certainly spells good news for the local retail sector. Between 2005 and 2006 alone, total tourist expenditure during the Christmas period increased by close to five per cent. While industry estimates indicate that half of tourist spend goes to the retail sector, this figure is expected to grow even further. The country’s emphasis on enhancing its position as a vibrant shopping destination with increased retail malls and the forthcoming Integrated Resorts, should help the local retail sector to capitalise further on new opportunities in tourist shopping,” said Rodney Teo, Managing Director of Global Refund Singapore.

The most highly sought after products in 2006 included watches and jewellery which accounted for 35% of total purchases, while fashion apparel made up 15%.

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