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In 2008, Singapore welcomed 10.1 million visitors,
registering a decline of 1.6% as compared to 2007. Visitor days were
estimated to reach 41.3 million days, setting another record and posting
an increase of 8.7% in comparison with 2007.
Indonesia (1,765,000), P.R. of China
(1,079,000), Australia (833,000), India (778,000) and Malaysia
(647,000) were Singapore’s top five visitor-generating markets in
2008. These markets accounted for about 50% of total visitor
arrivals in 2008.
The decline in visitor arrivals to
Singapore reflects the impact of the global economic slowdown on
consumer sentiments and discretionary spending.
The hotel sector was estimated to achieve
an all-time record of Sin$2.1 billion in room revenue in 2008,
posting a growth of 12.1% over 2007.
Average Occupancy Rate (AOR) was estimated to
reach 81%, which was 6 percentage points lower in 2008 as compared
to 2007.
The hotel sector remained robust with both the
Average Room Rate (ARR) and Revenue Per Available Room (Revpar)
setting new highs. The ARR was estimated to reach Sin$246 for
2008, an increase of 21.9% over 2007, while Revpar grew by 13.5%
to reach Sin$199.
See also:
Singapore Visitor Arrivals for October 2008
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