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Chart of the Day: Here's strong proof that Singapore's visitor arrivals will hit 16.2m in 2014
Will STB's target arrival be reached?
According to DBS, while some have written off Singapore’s tourism sector as being past its prime after the opening of the two integrated resorts (Resorts World @ Sentosa and Marina Bay Sands), visitor arrivals have continued to record strong growth.
Here's more from DBS:
Three years after Resorts World @ Sentosa opened its doors on 14th Feb 2010, visitor arrivals have grown by c.30% (or a 3-year CAGR of 14.2%).
We believe that STB’s 2015 target of 17m visitor arrivals (implied 5.8% CAGR over 2012-2015) is attainable.
Using this growth rate as a guide, we estimate that visitor arrivals in 2014 will hit a high of 16.2m.
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